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Algorithmic Regulation$
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Karen Yeung and Martin Lodge

Print publication date: 2019

Print ISBN-13: 9780198838494

Published to Oxford Scholarship Online: October 2019

DOI: 10.1093/oso/9780198838494.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 26 September 2021

Legal Practitioners’ Approach to Regulating AI Risks

Legal Practitioners’ Approach to Regulating AI Risks

Chapter:
(p.224) 10 Legal Practitioners’ Approach to Regulating AI Risks
Source:
Algorithmic Regulation
Author(s):

Jason D Lohr

Winston J Maxwell

Peter Watts

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198838494.003.0010

Many firms, including those that do not regard of themselves as traditional ‘tech’ firms, consider the prospect of artificial intelligence (AI) both an intriguing possibility and a potential new area of risk for their businesses. The application of existing AI technologies raises significant new issues in some of the most fundamental areas of law, including: ownership and property rights; the creation, allocation and sharing of value; misuse, errors, and responsibility for resulting harm; individual liberty and personal privacy; and economic collusion and monopolies. This chapter first examines how businesses are already managing some of these risks through contract. It then examines some of the considerations involved in public regulation of AI-related risks. It concludes by proposing a four-layer model for thinking about AI regulation in the broad sense.

Keywords:   artificial intelligence, AI regulation, risk management, contract, public regulation

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