Last month an AI bill passed by California lawmakers meant to support the ethical use of AI received backlash from some of the world’s biggest technology companies.
Kriti Sharma, chief product officer of legal tech at Thomson Reuters, shares her thoughts on the bill. Thomson Reuters is a multinational information conglomerate founded in Canada.
Why is there so much opposition to the bill?
The bill has divided opinions over who should drive regulation, as well as prompting debate over whether it strikes the right balance between putting in guardrails while also supporting AI development and innovation.
Ultimately, we cannot afford to run AI that humans cannot trust, and this rests on thoughtful implementation of guardrails and policies to support the safe usage of this technology. Whatever the path, we need to effectively navigate understanding of, and managing, both near term as well as long term benefits and risks. This will help us harness the possible benefits of AI in a clear and trusted way which balances innovation and safety.
How realistic are worst-case scenarios like critical infrastructure exposed to rogue AI?
As AI systems become more advanced and deeply integrated into critical infrastructure, for example, the potential risks also grow. Future developments combined with the possibility of malicious exploitation highlight the need for pre-emptive regulation, robust security, and continuous monitoring to protect public safety and prevent unintended consequences.
It highlights that, while we may not have all the answers now, we need thoughtful standard setting today to address known concerns with AI such as around transparency and bias, while enabling us to unlock potential benefits such as improving access to justice, improving job satisfaction and driving productivity.
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What work is being done at Thomson Reuters to deliver GenAI solutions to solve real-world challenges?
According to our Future of Professionals report, GenAI is set to free up 12 hours per week for professionals within the next five years. Thomson Reuters is at the forefront of delivering professional-grade AI in the fields of legal, tax, accounting, risk, fraud, compliance, and news.
CoCounsel 2.0 our professional-grade AI assistant functions as an extra team member and draws on its robust set of specialized skills to handle complex, multi-step work, helping professionals quickly pinpoint key knowledge in vast databases, thoroughly communicate sophisticated information, and complete essential work with unprecedented speed.
This can bring with it transformative value to organisations through greater productivity and creativity. We are committed to bringing GenAI technology to our customers at pace but in the right way, which means giving our customers answers they can trust, which is particularly important for high stakes sectors such as legal.
For example, our GenAI solutions are helping lawyers, judges and court administrators process vast amounts of information and streamline tasks, such as document review and due diligence, in a matter of minutes. This not only reduces error rates but enables professionals to focus on higher value work, such as strategic decision-making and client counselling, well as delivering societal benefits such as driving access to justice through greater productivity in the legal profession.
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