February 2024

Scott Kosnoff Contributes to Lex Mundi Report on Implications of GenAI for Corporate Legal Management

Lex Mundi published the report “Opening Pandora’s Box: Early implications of Generative AI for corporate legal management,” that offers an in-depth analysis of the risks and opportunities associated with the adoption of Generative Artificial Intelligence (GenAI) in products, services, and operations. The report specifically highlights how the rapid advancement of GenAI technology has outpaced the development of regulatory frameworks, particularly in cross-border contexts, and turns to Faegre Drinker for guidance on how organizations that use artificial intelligence should be thinking about how to mitigate their regulatory, litigation and reputational risk.

The report includes a figure from Faegre Drinker that outlines how to approach an AI risk management framework and provides AI-X team co-leader Scott Kosnoff as a source on this topic. The figure highlights that a risk management framework should demonstrate that the organization appreciates the concerns associated with AI, takes those concerns seriously and has exercised reasonable care in identifying, managing and mitigating the risk of negative outcomes.

The full report is available here.

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