Top 5 Key Takeaways from the “Key Considerations When Leveraging AI Tools for In-House Counsel” Webinar

In the recent In-House Connect webinar titled “Key Considerations When Leveraging AI Tools for In-House Counsel” legal experts John Lee, General Counsel at Ivo.ai, Jacquie Cooke, Chief Legal & Regulatory Officer at WeighWatchers, Alex Touma, Partner at A&O Shearman, and Nguyen Vu, Deputy General Counsel at OKX provided valuable information for in-house counsel. They focused on important considerations when using AI tools, covering topics like data handling, legal issues, and the evolving landscape of AI regulations.

Here are five important considerations when using AI tools:

1. Data Management:

Strict rules are necessary for managing data with AI tools. Important considerations when using AI tools include understanding what types of data are collected, how long they will be kept, and whether they comply with consumer agreements. Transparency with users and getting their permission are also necessary considerations when using AI tools to reduce risks.

2. Clear Communication:

Informing users about how AI interacts with them can be challenging. Clear disclosures are important considerations when using AI tools. Similar to what many apps already do, users should have the choice to talk to a human instead of an AI. Younger generations tend to be more comfortable with AI, while comfort levels can differ depending on the situation, making this a consideration when using AI tools.

3. Legal Challenges:

There are many legal issues to consider when using AI tools. Key considerations when using AI tools include obtaining permission for data use, following data protection laws, and understanding questions around ownership of AI-created content. It’s important to be clear about what data is input into the AI and what is produced, as these details can greatly impact contract terms, making them considerations when using AI tools.

4. Keeping Up with AI Rules:

Staying informed about AI regulations is key. New rules from the government and state laws can change how AI is used. Important considerations when using AI tools include ensuring contracts with AI providers have a requirement to inform clients about any legal updates that might affect their services.

5. Weighing Benefits and Risks:

It’s necessary to balance the benefits of AI with the potential risks. Relying too much on AI could lead to a decline in important skills in areas like law and engineering. AI-generated content can also contain mistakes, which might create legal problems. Common sense and strong internal communication are necessary considerations when using AI tools in any organization.

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