AI Trends For 2022 - AI Industry Poised for Successful 2022
- The AI industry continues to mature as venture investment increased significantly in 2021 and exit values for venture-backed AI companies significantly outpaced venture investment in AI companies in 2021. According to PitchBook, AI companies have produced over $166 billion in value through IPOs and... ›
AI Trends For 2022 - The IRS will use increased budget resources to achieve a main objective
By: Shane M. Shelley
The IRS plans to audit the wealthiest corporate, partnership, and individual taxpayers to achieve some of its main objectives in 2022. In his recent testimony before Congress , IRS Commissioner Charles P. Rettig identified the allocation of additional resources to enhance the IRS’s data... ›AI Trends For 2022 - FDA Regulatory
FDA is actively monitoring the use of AI and machine learning (ML) software in medical devices and clinical developments, and has taken a number of first steps in building out a regulatory framework. In 2021, FDA published the AI and Machine Learning Software as... ›AI as a Patent Inventor – an Update from South Africa and Australia
By: Alistair Maughan, Georgia Wright and Anna Yuan
Although the European, U.S., and UK Patent Offices have denied patent applications on the grounds that an AI system cannot be listed as an inventor, not every country seems to be following that approach and some may be set to buck the trend. Last... ›Draft EU Regulation for Artificial Intelligence Proposes Fines of up to 6% of Total Annual Turnover
By: Christiane Stuetzle and Patricia C. Ernst
After the presentation of a general “European Approach to Artificial Intelligence” by the EU Commission in March 2021, a detailed draft regulation aimed at safeguarding fundamental EU rights and user safety was published today (“Draft Regulation”). The Draft Regulation’s main provisions are the following:... ›The Collision of AI’s Machine Learning and Manipulation: Deepfake Litigation Risks to Companies from a Product Liability, Privacy, and Cyber Standpoint
By: Michael Burshteyn and Erin M. Bosman
AI and machine-learning advances have made it possible to produce fake videos and photos that seem real, commonly known as “deepfakes.” Deepfake content is exploding in popularity. In this article, we explore deepfake technology and the legal risks it presents to companies while providing practical... ›Recent Digital Health-Related FDA Announcements
By: Jean Nguyen Ph.D.
The U.S. Food and Drug Administration (FDA) is showing its dedication to the advancement of digital health technology with two recent announcements: a new Digital Health Center of Excellence and an update on its Software Precertification Program. Manufacturers developing mobile medical devices, software as... ›Applying AI and Data Science to the Fight Against COVID-19: The Science and Legal Considerations
By: Jean Nguyen Ph.D., Kristen J. Mathews, Matthew Karlyn and Michael Ward Ph.D.
Our new Life Sciences MoFo Perspectives podcast is available now. In this episode, several of our Life Sciences Group partners unpack the science, regulatory framework, commercial transactions, and privacy and data security considerations of applying AI and data science to the fight against COVID-19.... ›In the Public Eye: USPTO Issues Report on AI
By: Tessa J. Schwartz
The USPTO recently released the report “Public Views on Artificial Intelligence and Intellectual Property Policy”. The report is part of the USPTO’s effort to engage with the innovation community and experts on AI and to promote innovation of AI through appropriate intellectual property incentives.... ›Changing the Safety and Liability Rules on AI – What is the European Commission planning?
By: Alistair Maughan, Mercedes Samavi and Dan Alam
A White Paper on Artificial Intelligence (AI) from the European Commission provides insight on how governments might change product safety and liability rules to address the issues arising from AI systems. Five years ago, the European Commission (EC) established a key policy agenda designed... ›