Credit: aniqpixel/Adobe Stock Execs Doubt AI Regulation Can Keep Up With the Technology's Rapid-Fire Advances
"More and more, we're seeing a gap between what outside counsel recommends and what executives are open to when it comes to AI policies and procedures," said Amy Worley, associate general counsel of Berkeley Research Group.
June 24, 2024 at 10:00 AM
6 minute read
Risk and Compliance
The original version of this story was published on Corporate Counsel
Artificial intelligence is advancing faster than the speed of regulation, creating uncertainty for business leaders and compliance headaches for lawyers, according to a new report on the AI regulatory landscape from Berkeley Research Group.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
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