Who Pays If Generative AI Runs Into Legal Troubles, You or Your Provider?
Generative AIs may face legal issues for infringing copyrights and website terms, with potential liability extending to end users. Recent data suggests increased risk.
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Did My Prompt Break The Law? Potential Copyright and Breach of Contract Issues with Generative AI
TL;DR: Don’t underestimate the risks of copyright and breach of contract issues with generative AIs. Claims on either ground could be successful, and there will be lots of problems for vendors (and, maybe, end users) if they are. Imagine it’s November 2023. The district judge in Getty Images v. Stability AI has just issued an injunction against Stability AI, prohibiting them from selling any generative AI trained with Getty Images’ copyrighted content.
Problems With Prompts? Measurability & Predictability of LLM Accuracy
TL;DR: We are somewhat uncomfortable with prompt engineering, because it’s hard to know how accurate a given prompt really is, and responses can be inconsistent and unreliable. There are ways to mitigate this. There are a lot of factors you could consider in evaluating Large Language Models (LLMs) in contract analysis. Accuracy is likely near the top of any list. Recently, we wrote a piece evaluating how GPT-4 is at finding information in contracts.
The Top 10 Reasons Why Microsoft SharePoint Can Be A Solid CLM
In recent years, Contract Lifecycle Management (CLM) has emerged as a software category that aims to provide organizations with a dedicated, comprehensive piece of software to manage all of their contract management processes. The space is booming. According to data from PitchBook, in 2021, $436.8M of venture capital was invested in the CLM space across 22 deals—up 63% vs. the year prior. Though CLMs are growing in adoption, they serve a relatively small number of businesses compared to Microsoft’s SharePoint.
How is GPT-4 at Contract Analysis?
Where Generative AI Is Good in Contract Data Extraction … And Where It Isn’t TL;DR: GPT-4 is impressive overall, but-on contract review tasks-it’s inconsistent and makes mistakes; probably not yet ready as a standalone approach if predictable accuracy matters. Back in 2011, when we started Kira Systems, other contract review software companies were using rules- or comparison-based approaches to finding data in contracts. We used supervised machine learning to find information in contracts, and did well against our competitors.
Introducing a new FREE version of Zuva contracts AI
At Zuva, we think contract data is too important to be bottled up in one system, or be forced into one particular set of workflows. Almost any business team can benefit from being able to access and review contract data. We’ve been building contracts AI since 2011. Our tech has been used by the world’s most demanding contract reviewers and for many of the world’s biggest companies. At Zuva, our focus has not just been to free this technology from any one system, but also make it dead simple for business people to use AI to extract and make use of contract data.
The National Labor Relations Board (NLRB) enforces labor laws in the United States, specifically those related to collective bargaining and unfair labor practices. On February 21, 2023, the NLRB issued a ruling in McLaren Macomb, 372 NLRB No. 58 (2023) about, among other things, a Severance Agreement that contained confidentiality and non-disparagement provisions. The provisions at issue prohibited employees from disclosing the terms of the Severance Agreement to most third parties, and broadly restricted employees from making statements about the employer.
Using Zuva AI Trainer To Build Custom AI Fields for ETF Documents
Do you understand the information contained in your ETF documents? An ETF (Exchange-Traded Fund) is a type of investment product that allows buyers to invest in diversified securities at once, for a single price. They are traded on stock exchanges and can be bought and sold during a trading day, in a similar manner to stocks. This allows an individual to participate in the gains and losses of the underlying securities held within the ETF.
Does Contract Management Software Have Product/Market Fit?
Recently, legaltech commentator Zach Abramowitz posed a provocative question: “Has CLM reached product market fit?” Product/market fit is, roughly, whether a product meets strong market demand, but the definition is pretty squishy and inexact1. Since the definition of product/market fit (aka “PMF”) is squishy, Abramowitz considers a bunch of indicators. “how total number of users would increase if marketing were to slow down. Is the number of users growing organically or is traction simply a product of marketing?
How Record-High Inflation Rates Could Be Impacting Your Company
Are your contracts doing enough to protect your company from unforeseen circumstances like inflation? In January 2022 the U.S. inflation rate climbed to its highest level in 40 years1, with prices rising by 7.5% from a year ago. It has had a significant impact on many, including the companies (both buyers and vendors) that have been trying to survive the past two years of the COVID-19 pandemic. Inflation brings risk and uncertainty along with it, and it might be doing more harm to your business than you’re aware of.