Generative AI and the legal landscape: Evolving regulations and implications

Generative AI (GenAI) is revolutionizing software by increasing productivity, finding innovative solutions, and generating unique and relevant information at scale. However, as GenAI becomes more widespread, concerns around data privacy and ethical issues are growing. Companies must be cautious when using GenAI to avoid disclosing proprietary information, violating intellectual property protections, exposing personal data, violating customer contracts, or deceiving customers with AI-generated content. The legal landscape surrounding AI is evolving rapidly, but not as fast as the technology itself. Companies should use existing laws and frameworks as a guide to establish best practices for implementing GenAI while minimizing potential risks. These best practices include transparency and documentation, localizing AI models, starting small and experimenting, focusing on discovering and connecting, preserving the human element, and maintaining transparency and logs. By adopting these measures, companies can maximize the tremendous business opportunity of AI while mitigating associated risks.