In this blog post by Ashley Kelso, a variety of new technologies are surveyed, along with their legal ramifications.
There has been a lot of talk about how ‘blockchain’, ‘machine learning’, and ‘Internet of Things’ (IoT) will ‘disrupt’ everything. How it will automate jobs, challenge existing business models, and overhaul the legal industry. But there haven’t been a lot of tangible examples of how this will occur. This article aims to provide a snapshot […]
- Automating Contract Administration: Singling out Ridley and Flux (a Google company), intelligent project-management software will not only optimize schedules and payments, but also the imposition of penalties for non-compliance. See also Kira, eBrevia, Thompson-Reuters Contract Express, Beagle.ai, Legal Robot, and more.
- Automating Copyright Infringement Detection: Veredictum is used as an example of software that automatically detects unauthorized republication of videos. It uses a blockchain as its mechanism of registration. Other examples of automated copyright infringements detection include: YouTube’s Content ID system, Vobile, Attributor, Audible Magic, and Gracenote (see this Wired.com article for a full discussion). The idea of using a blockchain to register artwork is discussed in this TechCrunch article, specifically concerning Verisart.
- Property and Security Registries: Discussing Ethereum smart contracts
- Self-Executing Contracts
- Wills as Smart Contracts
- Machine Learning as an Assistant
Kelso concludes that “Advisers need to be able to understand how these innovations work so that they can anticipate and deal with the issues that will arise, as established business models are threatened and legislators struggle to keep up.”
I couldn’t agree more.