Introduction to the series
Last year McKinsey estimated that AI could deliver additional economic outputs of $13 trillion by 2030, increasing global GDP by approximately 1.2%.1 Forrester predicted that users of AI, Big Data and the Internet of Things could develop new business insights enabling them to "steal $1.2 trillion per annum from their less-informed peers" by just 2020.2 Early 2019 commentary echoes these predictions and continues to forecast exponential AI-powered global economic growth and disruption.
Technology is no longer a back-office support function – it is a strategic Boardroom level matter relevant to every organisation across every industry. However, in 2018 New Zealand's AI Forum found that only 36% of New Zealand companies surveyed were discussing AI at a Boardroom level.3
Understanding emerging technology and the risks and benefits for your organisation is essential to remaining competitive in today's dynamic environment. To get you thinking about your digital strategy and the unique challenges and opportunities that lie ahead, we have put together a series of articles outlining some of the key considerations that you should be aware of.
While this series focuses specifically on the considerations arising from the implementation of AI-powered solutions, a number of these matters are equally relevant to other technologies and your broader digital strategy.
Article 1: Regulating AI – A Global Perspective
Article 2: Do your homework first – Data, algorithms and human checkpoints
Article 3: AI and employees – AI stole my job!
Article 4: AI and price fixing – Collusion by machines
Article 5: Ethics and liability – Mistakes by machines
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This article is intended only to provide a summary of the subject covered. It does not purport to be comprehensive or to provide legal advice. No person should act in reliance on any statement contained in this publication without first obtaining specific professional advice. If you require any advice or further information on the subject matter of this newsletter, please contact the partner/solicitor in the firm who normally advises you, or alternatively contact one of the partners listed below.