AI Assistance in Managing NFTs

AI can play a crucial role in managing and organizing NFT portfolios and collections. As the NFT market grows, many investors and collectors may find themselves holding NFTs across different platforms and blockchains. Keeping track of all these assets, their values, ownership details and other relevant information can become increasingly challenging without the aid of … Read more

LOIs – Common Mistakes

A letter of intent or LOI is a document that’s often used to outline the preliminary understanding between parties before entering into a formal contract or agreement. Below, I outline the common mistakes in LOIs and how to avoid them. Parties should address these common mistakes and taking proactive steps to draft clear, comprehensive, and … Read more

AI and Legal Fees

A federal judge harshly criticized a law firm’s attempt to use ChatGPT to help estimate its legal fees in a case against New York City. The Cuddy Law Firm, which specializes in special education cases, cited ChatGPT’s feedback as a “cross-check” to support its request for over $113,000 in fees after successfully representing a student … Read more

Using AI to Manage the Corporate Transparency Act

The use of AI can provide significant benefits for the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in managing the Corporate Transparency Act (CTA). However, there are potential dangers and risks that need to be carefully addressed. AI models can perpetuate or amplify existing biases in the training data, leading to discriminatory outcomes or … Read more

Artificial Intelligence and Private Equity

The best and worst uses by private equity firms of AI depend on how effectively the firms leverage AI technologies to achieve their goals while considering potential risks and—I am hopeful—ethical considerations. Best Use Worst Use The best use of AI by private equity firms involves leveraging AI technologies to enhance investment decision-making, operational efficiency, … Read more

Corporate Transparency Act – Enforceable?

A Federal District Court in Alabama just issued a decision finding the Corporate Transparency Act (CTA) unconstitutional in the case of National Small Business United v. Yellen. The court ruled that in enacting the CTA, Congress exceeded its Constitutional powers, including its authority to regulate interstate commerce. Specifically, the court agreed with plaintiffs that while … Read more

Alleged Fraud by AI Company

Innodata Inc. is an American company, headquartered in New Jersey, that provides business process, technology and consulting services. A class action lawsuit has been brought against Innodata alleging securities fraud related to misrepresentation of the company’s AI technology and business prospects. The plaintiffs claim that between May 9, 2019, and February 14, 2024, the defendants … Read more

AI: Automating M&A Document Review

AI can automate various aspects of the due diligence process, such as document review, redlining, and contract summarization. By automating routine tasks, AI frees up M&A professionals to focus on higher-value activities, such as strategic analysis and negotiation. I give more particulars below after the video. By automating routine tasks and leveraging AI-driven analytics, M&A … Read more

AI: Thorny Issues of Liability & Accountability

As artificial intelligence increasingly makes high-stakes decisions without direct human intervention, the domains of legal liability and ethical responsibility drift into uncharted territory. From medical diagnoses to judicial sentencing to self-driving vehicle accidents, complex AI systems utilize vast data processing capabilities to take consequential actions autonomously. But who is held accountable when inevitable errors arise, … Read more

AI Training for Lawyers

AI and ethics can walk hand-in-hand. Ever pondered what role artificial intelligence might play in the legal landscape? As technology marches on, AI offers unique opportunities for legal professionals. But training AI isn’t all ones and zeros. Ethical, regulatory, and practical considerations abound. Training AI for legal tasks isn’t a walk in the park. It demands … Read more

A Sonnet on AI Bias by Claude AI

The data trails we leave each dayContain our joys, beliefs, errors of the past.The systems trained on such displayBiases that within were cast. Imprints of preconception live on,As algorithms crunch through unfeeling bits.Creating models that still drawnTo the prejudices found in it. They mirror latent flaws back to us,Mathematizing the biases we’ve made.Garbage in begets … Read more

Artificial Intelligence and Bias

Artificial Intelligence systems can unintentionally perpetuate and amplify societal biases, leading to unfair outcomes. This can occur because the AI algorithms reflect the biases in the data used for training. The video below presents the reasons biases can occur and the ways those biases can be overcome. We’ll talk more about training in the near … Read more

Are NFTs Securities?

Non-fungible tokens (NFTs) represent unique digital assets that are typically used to represent ownership of digital art, collectibles, virtual real estate and other digital items. (For some background on NFTs see my primer.) Determining whether an NFT is a security is a complex and evolving legal question that depends on numerous factors and the jurisdiction … Read more

Copyright Protection for AI⁠⁠-⁠Generated Works

The U.S. Copyright Office has ruled that AI-generated artwork cannot be copyrighted. Let’s talk about that. But first a little background. What’s a Copyright A copyright is a legal right that grants exclusive control over the use and distribution of an original creative work. It gives the creator or owner of the work the exclusive … Read more