Fondia's Data Economy Group
Nowadays it seems like everywhere we turn we see a post or a news flash about AI, technical development and how innovation will change the way we live, work and study. AI creates exciting possibilities, but some think it goes too fast and want to push the pause button to allow humans to catch up. Despite the pros or cons of innovation, with the recent technologies (with effects throughout the whole society), the European Union has recognized the need for additional regulation.
ChatGPT already has more than 100 million users, AI programming tools are making the lives of programmers easier, and AI generated photos are winning art contests. We are in the middle of jumping from the age of information to the age of intelligence. But how does it really work? What are we allowed to do with the data output? Who owns it and with whom can we share it? Whose data can we use to develop the software or even generate content on or train an AI system with?
In addition to the recently skyrocketed interest in AI systems, other data-related matters have been bubbling under the surface. Big Data, the hazy buzzword of yesterday, is today’s everyday reality bringing big opportunities and big challenges. The data economy is here. Balancing the noble concept of effectively utilizing data for the greater good and prosperity is challenging from regulatory perspective as, at the same time, one should be respecting principles such as freedom, equality, privacy and ambitious environmental and societal fairness goals.
The legislative activity and response from the EU have not been silent and several EU regulations have and will enter into force. These regulations are predicted to rewrite the rules of the digital sector, both literally and figuratively. Some of them are predicted to create a new wave of compliance requirements and global standards, just like the GDPR did.
What is Fondia doing?
Fondia is actively following the development and we are already advising our customers on these matters. Fondia also closely follows and analyses the legislative changes to ensure to be on top of any news that may have an impact on our customers.
The risk of giving legal advice on new legal areas is the level of unknown aspects and factors which risks leading to vague advice and to not be a cost-efficient way of working.
That is why we have set up a task force, to ensure Fondia creates the readiness to advise our clients in the most practical and efficient way possible. As always, Fondia strives to provide directly applicable and straight-to-the-point legal advice, and these new EU regulations will be no exception.
The main regulations the task force focuses on are the AI Act, Data Act, Digital Services Act, Digital Markets Act and the Data Governance Act. Some of the services we provide in relation to data, AI and digital services are:
Regulatory impact assessment
Actionable roadmaps to comply with the Data Act and Data Governance Act
Protection of trade secrets and intellectual property
Assisting customers with requests regarding exportation of data
Risk assessment and evaluation of AI systems and tools (red/yellow/green-flag report)
Draft of AI policies (internal and external)
Draft and review of customer agreements including AI related model clauses (service agreements, development agreements, terms and conditions etcetera)
Evaluation of legal obligations according to the DSA and set-up of action plan
Review and adaptation of terms and conditions
Draft of moderation guidelines
Risk assessment and set-up of compliant complaint-systems
Assisting with annual transparency reports
Evaluation of alleged infringing and illegal content
Assisting customers in matters related to Gatekeepers compliance with the DMA
Please feel free to contact us if you are curious to know how this affects your business.