Business firms respond to challenges posed by big data and AI

Italia Oggi devotes an in-depth study to the impact that artificial intelligence, cybersecurity, and big data have on the business of business law firms. Nearly 2/3 of European firms offer data-driven products and services, and 26% intend to do so shortly, but only 36% of these have an adequate data strategy in place. Reflecting this, regulations have been developed at the European level to implement and use artificial intelligence according to security and reliability principles. This situation makes consultants service crucial: law, standards, and contractual rules allow control over what can happen independently of the will of those who create or employ these technologies.

Marco Giorgi, a partner at Andersen who is an expert in comparative corporate law, corporate governance, legal and financial structuring, and venture capital contributions, recalls how the main innovations introduced by the technological revolution are now familiar to most professionals. Law firms have approached these phenomena to offer services capable of responding to new market needs and making their professional processes more efficient. “Only a few realities have managed to develop new tools of effective use, more often existing solutions have been adopted,” the lawyer commented. “There has been a realization that application capabilities require large investments and specific skills not present in the market today. There has been a need for a new professional figure between a lawyer and a developer, who can understand the tools offered by machine learning, big data, and Dlt models, but at the same time has a legal background.”