Generative Artificial Intelligence (GenAI) can generate and manipulate our ideas and thinking by creating human-like content via non-human intelligence.[1] These software(s) such as OpenAI’s ChatGPT/ GPT-4, Google’s BARD, inter alia, are initially trained on a large data sets and computing power. After the training, they are capable of self-enhancement to generate unique and personalised content.[2] This has posed novel questions before the copyright experts, as content generation, previously reliant on human inputs, has moved beyond that realm. Now, instead of answers based on user queries – as obtained via Google’s search engine – customized personal content is delivered to the user. Creation of this new content through GenAI has led to concerns on copyright infringement, privacy violation, libel and defamation, etc. Copyright infringement is particularly worrisome as the companies are using the user-generated data to train these software(s), which includes the data generated by minors, amplifying their vulnerability. Questions arise regarding the extent to which the companies can claim ‘fair-use’ exception of the Copyright Act? This article attempts to bring some clarity over these issues. It incorporates two landmark US cases against OpenAI’s ChatGPT and Alphabet Inc., respectively[3], and their implications in India, including the India’s recently-passed Digital Personal Data Protection Act, 2023.Continue Reading Guardians of Genius: Securing Tomorrow’s Generative AI via Copyright Protection

Financial institutions have invested heavily into artificial intelligence (“AI”) and machine learning (“ML”) techniques globally, and in India, over the past decade. There are estimates that AI technologies could potentially contribute towards US$ 1 trillion in additional value for the global banking sector, and a World Economic Forum survey indicated that seventy seven per cent of all respondents (151 fintechs and financial institutions from thirty three countries) anticipated AI to possess a high or a very high overall importance in their businesses in the near future. Tangible use-cases in the financial sector have resultantly sprung, benefitting both customers and investors through robo advisors, portfolio optimisation, and algorithmic trading bots. Financial institutions on their part have benefitted greatly through chat bots handling consumer interactions and grievances, identity verification (including video KYC), predictive analytics to mitigate and minimise frauds, etc.Continue Reading FIG Paper (No. 19 – Series 1)- AI/ ML, ChatGPT: Legal and regulatory considerations for financial service use-cases