Fintech and the law: can we keep it up?

08 Apr 2019

BLM's head of analytics, Andrew Dunkley discusses and gives his opinion on Lord Hodge's recent lecture at the University of Edinburgh regarding the legal implications of data-related technologies and the more practical implications for application within law making.

Andrew comments, "There is a widespread confusion about what is involved in building AI, particularly that it is ‘intelligent’ of its own accord and independent from human input. The idea here is that the AI is making decisions on its own and because of that it is hard to connect it to a legal person.

"This is not correct.

"When you are designing an AI model, there are a whole series of fundamental decisions you take that defines how the ultimate model works. These include ‘editorial’ choices about the training data you give the computer, the variables you tell it to focus on and the framework in which it operates."

To read Andrew's full commentary, as published by Legal Futures, please click here.

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Disclaimer: This document does not present a complete or comprehensive statement of the law, nor does it constitute legal advice. It is intended only to highlight issues that may be of interest to customers of BLM. Specialist legal advice should always be sought in any particular case.

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