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<ul><li>The aggregate earnings of 252 listed companies rose 29% <keyword id="19921444" type="General" weightage="20" keywordseo="yoy" source="keywords">YoY</keyword> for the December quarter.</li><li>Five <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> companies contributed 56% of the incremental YoY accretion in earnings, says <keyword id="19896146" type="General" weightage="20" keywordseo="motilal-oswal" source="keywords">Motilal Oswal</keyword>.</li><li>Auto, <keyword id="19910880" type="General" weightage="20" keywordseo="bfsi" source="keywords">BFSI</keyword> sectors posted good earnings due to domestic demand, while global commodity prices aided metal and oil companies. </li></ul>Corporate India’s earnings report card for the December quarter corporate earnings a few surprises both positively and negatively. Tata Motors, Tata Steel and ICICI Bank delivered better than expected results. But HDFC Bank and SBI disappointed the markets; with the former delivering<a href="https://www.businessinsider.in/finance/banks/news/banks-continue-to-spook-markets-after-hdfc-banks-ldr-shock-in-q3/articleshow/106946610.cmshttps://www.businessinsider.in/finance/banks/news/banks-continue-to-spook-markets-after-hdfc-banks-ldr-shock-in-q3/articleshow/106946610.cms"> a loan-to-deposit ratio shocker</a>, and PSB’s one-time<a href="https://www.businessinsider.in/finance/banks/news/sbis-core-business-stays-strong-despite-one-time-hit-on-account-of-higher-wage-costs-in-q3/articleshow/107421675.cms"> salary payouts impacted profits</a>. On an overall basis, however, listed companies saw widespread outperformance driven by margin tailwinds, says a report by Motilal Oswal. The aggregate earnings of the companies rose 29% YoY for the quarter. Of the 252 companies across 23 sectors the research firm covers, 82 exceeded its profit estimates, 95 reported a miss, and 75 were in line. “India is currently enjoying the confluence of the best macro and micro tailwinds with around 7% GDP growth, moderating inflation prints, range-bound crude prices, easing 10-year G-sec yield, stable currency, and resilient corporate earnings,” said a report by Motilal Oswal. Heavyweights march ahead Both domestic and global cyclicals aided the corporate earnings growth. Domestic cyclicals aided BFSI and auto sectors in terms of demand. Global commodity prices augured well for sectors like metals and oil &amp; gas. “BFSI clocked a 22% YoY growth while autos registered a significant growth of 60%. Metals earnings jumped 74% over a weak base of 3QFY23. Oil marketing companies’ profitability surged 4.6x due to strong marketing margins,” said Motilal Oswal report. Within the Nifty universe, earnings growth was top-heavy this quarter. The 50 stocks under the index saw their sales grow in line with estimates by 6%; but PAT growth beat earnings estimates with 17% YoY growth. “Five Nifty companies – Tata Motors, HDFC Bank, Tata Steel, ICICI Bank, and JSW Steel – contributed 56% of the incremental YoY accretion in earnings,” said <keyword id="20102111" type="General" weightage="20" keywordseo="mosl" source="keywords">MOSL</keyword>. Sales must grow Like in Q2, Q3 also extended the trend of lean sales growth combined with strong profitability due to softening commodity prices. Even in sectors like FMCG where sales growth has either been negative or marginal saw decent margin expansion due to the commodity effect. The IT sector too saw margins expand due to sharp decline in headcount, as most large players reported flat to slightly negative sequential revenue growth. Going ahead, analysts hope that revenue recovery across listed companies is necessary. “The earnings revision trend in the broader coverage universe, excluding Nifty, was lackluster. The margin tailwind from 4QFY24 onwards will be receding and facing a high base, necessitating a recovery in revenue growth to drive earnings ahead,” said MOSL. Nifty is trading at a 12-month forward price to earnings ratio of 19.4x. But broader markets are trading at expensive valuations, especially NSE Midcap 100 index trading at around 40% premium to Nifty. “Markets, in the near term, will take cues from the outcome of the Lok Sabha elections scheduled in April-May 2024 and the timing and quantum of easing in the interest rate cycle, both globally and in India,” says MOSL.

Effect of cyclicals: Q3 corporate earnings driven by autos & financials

<ul class="summary-list"><li>Generative AI is transforming the legal industry, but attorneys say the billable hour is here to stay.</li><li>Instead, they said the value of a lawyer's hour is likely to increase as AI tools help automate routine tasks.</li></ul>Generative <a target="_blank" class="" href="https://www.businessinsider.com/signal-president-generative-ai-bubble-nvidia-openai-2024-8">artificial intelligence</a> is revolutionizing industries across many sectors, and the <a target="_blank" class="" href="https://www.businessinsider.com/artifical-intelligence-golden-age-technology-lawyers-legal-issues-2024-8">legal world is no different</a>.The <a target="_blank" class="" href="https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6">AI boom</a> has reignited the long-running debate over the potential <a target="_blank" class="" href="https://www.businessinsider.com/surprise-the-billable-hour-is-not-dead-2009-12">death of billable hour</a> — the standard method of payment in the legal profession.And though <a target="_blank" class="" href="https://www.businessinsider.com/ai-models-microsoft-openai-meta-google-2024-6">AI-powered tools</a> are expected to become widely adopted in the legal field in the coming years, industry experts told Business Insider that the use of the rapidly advancing technology won't kill off the billable hour payment model, but rather reinvent it.Several attorneys said that as AI tools are used at firms to automate routine and time-consuming grunt work tasks like document review and due diligence, the number of billable hours to a client is likely to be reduced, and the value of a lawyer's individual hour is likely to increase."The real value that lawyers provide, whether or not that's strategic advice, whether or not it's the actual drafting of arguments, whether or not it's the arguing in court to jurors or to judges in courtrooms, or to the making of deals and negotiating terms — all those sorts of things — I think you're going to see an increasing premium on," said Michel Paradis, a partner at the global firm Curtis, Mallet-Prevost, Colt &amp; Mosle LLP.Paradis, who specializes in AI-related legal work and also teaches national security and constitutional law at Columbia Law School, said he doesn't believe there will ever be a "complete disappearance" of the <a target="_blank" class="" href="https://www.businessinsider.com/solar-sonnedix-legal-eliminated-billable-hour-2021-11">billable hour</a> in the law profession."What I think you're likely to see is a slow disappearance of the filler billable hours" that a slew of law firms depend on, Paradis said.The same way that the introduction of word processors dramatically shifted the way law firms operated in the late 20th century, Paradis said he foresees the same thing happening with AI."AI is going to have a similar effect to the rise of information technology in the legal field," said Paradis, "and that is a consistent gobbling up of the bottom of the legal market."Elisa Botero, another partner at the New York-headquartered firm, agreed, saying that the billable hour model will remain a "key metric" for at least the foreseeable future even as <a target="_blank" class="" href="https://www.businessinsider.com/big-law-firms-using-ai-fast-track-ma-deals-work-2022-10">more law firms move to utilize AI tools</a> to boost the efficiency of their practices."But what type of work will be billed out will shift and is already shifting," said Botero, explaining that more traditional, associate-type work or junior-level work will be most impacted by the use of AI."You'll still see billable hours, but you'll see a reduction of those billable hours for that type of routine legal work that can be automated" with AI tools, Botero said.<h2 id="66e39611-3337-4510-85b9-68f507694c7f">AI can't replace everything a lawyer does</h2>James Gatto, a partner at Sheppard Mullin who co-leads the firm's AI industry team of about 100 attorneys, said that the billable hour isn't going anywhere for higher-level work, but that there may be a fixed-rate payment for legal services that are primarily done by AI."If you're using AI to produce a draft of a brief that would have taken, let's say, $5,000 of legal time to do a first draft, maybe now it's $2,500," Gatto said.He added that AI "may accelerate the elimination or minimization of billable hours for certain types of work, but I don't think it will do it across the board.""Not everything that a lawyer does can be replaced by AI," the attorney said, pointing to legal work involving depositions, trials, negotiations, and mediations.Frank Gerratana, a partner at the international firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., said that he sees the integration of AI tools in law firms as a positive that can allow attorneys to spend more time on critical work."I can envision a scenario in which lawyers can simply charge more per hour because they're spending more time on the highest value work and things that are time-consuming — but not particularly high value — can be automated," said Gerratana, who advises clients on intellectual property issues.With the integration of AI into law firms, Gerratana said he can picture a world where hour-based billing, subscription-type billing, and task-based billing for legal services all exist at the time."If I, as an attorney, can really speed up my work I might be more inclined" to bill by the task, he said.<h2 id="bf826b9d-4af6-4b2e-b1a7-362abf3e58f6">A 2023 ABA survey found that 20% of law firms were using or considering using AI</h2>Meanwhile, a 2023 <a target="_blank" class="" href="https://www.americanbar.org/groups/law_practice/resources/tech-report/2023/2023-artificial-intelligence-ai-techreport/">survey</a> by the <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/student-loans/is-law-school-worth-it">American Bar Association</a> found that 10.9% of firms across all sizes were using AI tools in their practices, while 9.8% were seriously considering purchasing AI tools.Gatto said that his firm utilizes a custom AI tool that was developed in-house. The tool can be used to draft legal memos and briefs and to create initial agreements of all kinds."Basically any type of legal document, you can use AI to some extent, at least right now, to assist in creating a first draft," Gatto said.Despite the use of AI, Sheppard Mullin is still currently charging clients by the hour."The part that's being done by AI, we're charging still just hourly. If it takes five minutes, we bill five minutes, that's it, but none of that stuff is ready to go to the client," said Gatto, explaining that an initial draft of a document created with the help of AI would be comparable to the work of a first-year law school student."There's still a fair amount of work that gets done between the partner and the first year to get the memo to the point where it takes everything into account and it's ready to go to a client," Gatto said.The firms Curtis and Mintz are still in the piloting phase when it comes to the use of AI in legal work."Any law firm that is not currently investigating how to use AI tools in their practice is going to fall quickly behind the law firms that have figured this out," said Gerratana.Juan Perla, another partner at Curtis, said that the firm is in the midst of developing an internal AI policy and expects to have certain AI tools integrated into the practice within months."Although we're proceeding carefully we're very intentional in our plan moving forward," Botero added. "We do feel that these tools will be necessary."Richard Robinson, the CEO and founder of the legal tech startup <a target="_blank" class="" href="https://www.businessinsider.com/pitch-deck-legal-tech-startup-robin-ai-raise-series-b-2024-1">Robin AI,</a> which uses <a target="_blank" class="" href="https://www.businessinsider.com/anthropic-claude-chatbot-google-chatgpt-2023-3">Anthropic's</a> large language model <a target="_blank" class="" href="https://www.businessinsider.com/researchers-at-anthropic-taught-these-ai-chatbots-how-to-lie-2024-1">Claude</a> to help lawyers draft and edit contracts, told BI that tools like his enable attorneys to operate at the top of their game."We're not just revolutionizing the legal industry. We're helping businesses to grow," Robinson said. "We've helped companies do legal due diligence 10 times faster than they could without our technology.""We are helping companies to reduce the time it takes to negotiate contracts from 90 days down to seven, in some cases," he said.According to Robinson, Robin AI, which was founded in 2019, has 100 paying customers, including seven <a target="_blank" class="" href="https://www.businessinsider.com/top-fortune-500-companies-addressing-diversity-and-inclusion-2021-6">Fortune 500 </a>companies, as well as thousands of users utilizing a free version of the product."We are seeing enormous demand ever since the release of <a target="_blank" class="" href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">ChatGPT</a>," he said.

AI won't kill the billable hour in the legal world — it'll just reinvent it

<ul class="summary-list"><li>Donald Trump recently reposted images showing Taylor Swift and her fans appearing to support him.</li><li>The images include an apparent AI-generated campaign poster of Swift urging "vote for Donald Trump."</li></ul>Should Taylor Swift sue Donald Trump or just shake it off?It's a dilemma that arose on Sunday, when Trump reposted — or "re-Truthed" as it's called on his Truth Social platform — images falsely showing Swift and her fans appearing to endorse the GOP presidential candidate."I accept!" the former president captioned the post, which included an apparently AI-generated campaign poster showing the pop star in a red, white, and blue top hat urging, <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-fake-taylor-swift-ai-pictures-swifties-furious-election-2024-8">"Taylor Wants You To Vote For Donald Trump."</a>"You're going to get sued," one angry Swift fan quickly replied. "I see a cease and desist order," another predicted.Legal experts and celebrity lawyers told Business Insider that Swift could, indeed, sue the former president, including on federal grounds of trademark infringement and false advertising. She could even try to take advantage of some states' laws against deepfakes in election communications, some said.But the experts differed widely on whether Swift would ultimately succeed should she sue, with almost all saying the odds are against her.Reps for Swift did not immediately respond to a request for comment on Monday.A legal threat that falls short of actual litigation may be the smartest move. Most of the experts agreed that a lawyer's letter telling Trump to remove the post could work on its own and would certainly be Swift's best first step."Swift could sue Trump and those who misappropriated her likeness by creating AI-generated images," said Neama Rahmani, president and founder of West Coast Trial Lawyers."Privacy torts protect people from having their name, image, or likeness used without their permission. Manipulating it using AI doesn't change things," he said.Rahmani pointed to a recent case where <a target="_blank" class="" href="https://www.businessinsider.com/scarlett-johansson-openai-voice-dispute-may-regret-2024-5">OpenAI removed a ChatGPT voice</a> that sounded uncannily like Scarlett Johansson after <a target="_blank" class="" href="https://www.businessinsider.com/scarlett-johansson-angry-chatgpt-voice-declined-offer-openai-sam-altman-2024-5">the actor lawyered up and complained</a> publicly.Swift's lawyers, too, are aggressive, Rahmani said. Earlier this year her lawyers sent a <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-threatens-sue-college-student-who-tracks-private-jet-2024-2#:~:text=Taylor%20Swift%20threatened%20to%20sue%20the%20college%20student%20who%20tracks%20her%20private%20jet&amp;text=The%20aircraft%2Dtracking%20mogul%20Jack,%22stalking%20and%20harassing%20behavior.%22">cease-and-desist to a college student</a> who tracked her private jet, and she <a target="_blank" class="" href="https://www.businessinsider.in/taylor-swift-sues-radio-host-for-allegedly-groping-her/articleshow/49586170.cms">once sued a radio host</a> who she alleged had groped her. "So I wouldn't be surprised if they send the Trump campaign a cease-and-desist letter at a minimum," Rahmani said.The superstar's best bet may be to call Trump out publicly, Harry Surden, a law professor at the University of Colorado, said."Swift's best option, in my opinion, is not legal in nature, but to publicly communicate that Trump's use of her image and endorsement is false and misleading," Surden said. "She could also send a public cease-and-desist letter."Swift has not endorsed a candidate for president in the 2024 race, but she did support the Biden-Harris campaign in 2020.Firmly in the "sue Trump" camp is James Walker Jr., a veteran entertainment attorney from Atlanta who reps the estate of Isaac Hayes. Last week, the estate publicly called out Trump's campaign for using the R&amp;B legend's composition, "Hold On, I'm Coming," <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-music-artists-angry-songs-rallies-event-license-2024-8">more than 100 times</a> at rallies and events over the past two years."Taylor Swift is a billion-dollar brand," said Walker, whose firm has put Trump on notice that it plans to sue for $3 million in the Hayes matter."She probably has her name trademarked, just like Aretha Franklin and others I've represented own their trademarks," he said. "You have to protect your brand, your trademark, and when you don't respond immediately, that's conveying that you're accepting this, and then others will do it.''Swift can claim trademark infringement by arguing that Trump's campaign gets an unauthorized benefit from reposting the bogus endorsement, added Paul Michael Wilson, a trademark expert at <a target="_blank" class="" href="https://walkerandassoc.com/">Walker &amp; Associates</a>."This is really bad — somebody should have told him not to do that," Wilson said with a laugh. "Like, really?"Walker, Wilson, and others cited the Lanham Act of 1946, a federal statute that protects trademarked commercial interests against unauthorized use, false advertising, and unfair competition."One could make a case that Trump's post is an advertisement" protected under the act, said Jessica Litman, who teaches trademark and copyright law at the University of Michigan. Still, Litman said she'd "expect a court to exercise caution to avoid chilling political speech."<h2 id="41d5edbc-b2fb-407b-a7f0-6c379ee09331">'Being clueless is not a defense'</h2>"It's not out of the question that he actually believes that the other images are genuine," Litman said."He has posted things in the past that show some confusion about how to tell whether an image is real or AI-generated," she said, though "being clueless is not a defense."Swift would also need to show that she has actually been damaged, said Litman and others."If Trump were to keep it up, I can imagine a fund-raising post seeking to take advantage of the misimpression that Swift has endorsed him that would be actionable," Litman said. "But we haven't seen that yet."Surden agreed, telling BI that Swift "would not have very strong legal claims against Trump under this scenario, in my opinion.""US law has strong protections for speech under the First Amendment, even false speech, as Trump may have engaged in here," Surden explained."Political speech is very heavily protected under the First Amendment," even when it is false or misleading, he noted.Trump may also protect himself by saying that the posting was satirical, and that he had nothing to do with generating the image and little to do with putting it online, experts said.As for the AI-generated likeness, "A handful of states have recently passed laws restricting the dissemination of deepfakes in election communications," said Mark Bartholomew, a law professor at the University at Buffalo."That would be the key place for Swift to look," Bartholomew said. "Intent would be key. Swift would need to prove that the Trump campaign sent these images out with intent to deceive voters."Swift is from Tennessee, and if she were to sue there, that state just passed the ELVIS Act, which lets people sue someone for using a deepfake of their likeness for fundraising, said Juan Perla, a partner at New York-headquartered international firm <a target="_blank" class="" href="https://www.curtis.com/">Curtis, Mallet-Prevost, Colt &amp; Mosle LLP</a>.By suing, Swift may be entitled to a judge's injunction — at least temporarily — ordering Trump to take the post down, Perla noted."But what is more likely to happen first is similar to what Celine Dion did, when she criticized and poked fun at the Trump-Vance campaign <a target="_blank" class="" href="https://www.businessinsider.com/celine-dion-rebukes-donald-trump-unauthorized-titanic-song-rally-rally2024-8">for using her Titanic theme song </a>at one of their rallies without her permission," Perla said.It worked for Johansson, at least. The OpenAI's new chatbot voices recently began to roll out to select users — and the voice resembling that of the actor is nowhere to be found.

Taylor Swift can absolutely sue Trump over the fake endorsement images he reposted. Winning a lawsuit might be harder.

<ul class="summary-list"><li>The complex legal landscape around AI is ushering in a "golden age" for technology attorneys.</li><li>Companies are seeking legal help as they adopt AI-powered tools in their business practices.</li></ul>As industries are jumping into the <a target="_blank" class="" href="https://www.businessinsider.com/ai-tools-make-your-job-easier-boost-productivity-work-chatgpt-2023-5">AI race</a> with both feet, technology attorneys are seeing a big boon.The legal landscape surrounding the rapidly evolving technology <a target="_blank" class="" href="https://www.businessinsider.com/ai-new-dark-age-risks-regulations-2024-5">remains complex</a>, giving lawyers specializing in <a target="_blank" class="" href="https://www.businessinsider.com/artificial-intelligence-use-in-law-firms-legal-cases-2024-6">AI</a> work plenty of opportunities to assist companies not only involved building AI tools, but also those interested in using the tech."It's a golden age for technology attorneys," Frank Pasquale, a law professor at Cornell Tech and Cornell Law School, told Business Insider. "I don't think I've ever seen such a situation where there's such a huge coordinated push to get a form of technology into so many different businesses."Pasquale expects that lawsuits are "certainly going to follow" as the technology, in some cases, "predictably fails or violates people's rights or just doesn't function" as intended."Companies are nervous," added Harry Surden, a professor of law at the University of Colorado Law School. "They need advice about policies around AI, so they're going to reach out to law firms that are developing AI policies and practices to help guide them."More than a half-dozen tech attorneys from across the United States who spoke to BI agreed that AI — especially generative AI tools like <a target="_blank" class="" href="https://www.businessinsider.com/openai-chatgpt-sam-altman-agi-race-rivals-chatbots-2024-6">OpenAI's ChatGPT</a> and <a target="_blank" class="" href="https://www.businessinsider.com/google-ai-gemini-bard">Google's Gemini</a> — is giving way to a heyday in the legal field.The lawyers are fielding a bevy of calls from clients and potential clients about how they and their companies can properly integrate AI in their business operations, along with other concerns about confidentiality and possible legal implications of using the tech.<h2 id="aec3d2e9-fed5-4ec3-8be1-ef0c61083745">One veteran tech attorney predicted there will be at least a 10-year boon</h2>"Right now there's so many unanswered legal questions and there's so many <a target="_blank" class="" href="https://www.businessinsider.com/ai-regulations-what-lawmakers-president-are-doing-2024-4">different laws that are being proposed</a> that I think it'll be at least a 10 year boon, if not longer," James Gatto, a partner at Sheppard Mullin who co-leads the firm's AI industry team of about 100 attorneys, told BI.Gatto and other attorneys likened the <a target="_blank" class="" href="https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6">generative AI boom</a> to the rise of the internet in the 1990s."Similar to the internet, every company is going to use AI and every company needs to deal with the AI issues, and most companies aren't really prepared to do it," Gatto said. "So they need to lawyer up."Sheppard Mullin, an international firm headquartered in California, has received an influx of calls from companies in recent months seeking counsel on the use of generative AI, according to Gatto."We're seeing everything from the creative works like music, games, etcetera to healthcare," said Gatto, who noted, "Every industry, every sector, every type of company is figuring out how they want to use AI, and they all need help."And companies are shelling out big bucks for that legal help.Gatto's team assists companies in developing AI policies and forming internal AI "governance committees," which they then train and get up to speed on the key legal issues that could arise.This kind of work could run a company anywhere from tens of thousands of dollars to more than $100,000, according to the veteran attorney, who has been advising clients on AI-related issues over the last two decades.<h2 id="562a9ca1-3d4a-4bf1-9e88-7e9d7902de26">Companies are exploring how AI will impact their businesses</h2>Peter Werner, a partner at the global law firm Cooley — which represents <a target="_blank" class="" href="https://www.businessinsider.com/quit-job-at-meta-bali-trip-moved-into-childhood-home-2024-8">Meta</a> and <a target="_blank" class="" href="https://www.businessinsider.com/google-hired-me-without-college-degree-imposter-syndrome-2024-8">Google</a> in AI-related litigation — called it a "very exciting time" for technology-focused attorneys.Werner said the boon is similar to the late 90s when law firms had a speciality internet practice and only some companies were experimenting with the internet.Now, the internet has become "ubiquitous," he said."Every company is on the internet," Werner said. "Every company has legal issues associated with being on the internet.""Same thing for AI," he said.AI is something that all of Cooley's roughly 10,000 clients, mostly in the technology and life sciences sectors, are dealing with, according to Werner."And it's not just companies that are developing an AI technology as part of the infrastructure of the AI economy," said Werner. "It's also every company, no matter what their industry is, needing to figure out how they're going to evolve and compete by leveraging AI and related technologies."Werner said that in many recent cases, the law firm has gotten outreach from companies "not historically in our wheelhouse" seeking legal help around AI and any potential implications related to the use of the technology.Companies are exploring how AI will impact their terms of service and how the technology can be used for employee recruitment or other aspects of business operations, said Werner."We have some of the most sophisticated AI-focused companies in the world who we work with, and we are defending them in significant, high-stakes litigation, and we're helping counsel them about their business model," said Werner.And then there's the non-technology companies who have been reaching out to the firm for help on AI "and everywhere in between," he said."You've got all levels of sophistication at all different stages of company development in all different geographies and all different industries," Werner said. "They are fundamentally wrestling with the same question, which is how is AI and generative AI in particular and related technologies going to affect my business?"<h2 id="264b28bd-91bd-4275-b5d8-179cad12f488">AI raises a host of novel legal concerns</h2>While there is no uniform federal law or regulations that address the use of AI in the US, the <a target="_blank" class="" href="https://www.businessinsider.com/executives-navigate-ai-hiring-tools-anti-bias-laws-2024-5">technology raises a host of novel legal concerns</a> related to intellectual property rights, privacy and data protection, liability, and human rights issues involving <a target="_blank" class="" href="https://www.businessinsider.com/ai-racism-bias-new-inclusive-solutions-2024-3">bias and discrimination</a>.AI companies have already faced <a target="_blank" class="" href="https://www.businessinsider.com/openai-copyright-lawsuit-authors-chatgpt-trained-on-books-2023-7">copyright lawsuits</a> from authors, visual artists, news outlets, and computer coders who argue that their original work has been used to train AI tools without their permission."There's a variety of legal issues. Some of them have more clear answers, and some of them are a real gray area that I think will probably have to be addressed by the courts or by Congress," said Frank Gerratana, a partner at the firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.This is typically the case with new technology, Gerratana and other attorneys pointed out."The hard part as an attorney," he said, "is that any new technology often raises issues we haven't seen before, and so the answers that our clients want are not always going to be clear."The New York-headquartered international firm, Curtis, Mallet-Prevost, Colt &amp; Mosle LLP, has also experienced an uptick in calls from both existing and new clients over the last 10 to 18 months, thanks to AI, according to attorneys at the firm who anticipate even more inquiries in the near future."What we saw recently with a client of ours in the pharmaceutical space is that they were asked to agree in a contract that they wouldn't use AI in a certain part of the work that they were hired to perform. So we're going to see tons of that kind of interaction in the transactional, contractual space," said Elisa Botero, a partner at the firm.Michel Paradis, another partner at the firm, said companies have also made queries involving confidentiality concerns when it comes to inputting sensitive information into generative AI tools."AI does have the effect, if nothing else, of putting very sophisticated, very complicated technology in the hands of lots of people who do lots of things and who run into all sorts of regulatory regimes and create all sorts of, let's be frank, legal trouble that they may not even fully understand, that these new tools make possible," said Paradis.Paradis and Botero say they expect the role of a tech attorney to expand."I think you're going to see lawyers with a technical background having to learn new areas of law that they never thought they would have to deal with" and vice versa, said Paradis.<h2 id="011a7466-5270-4e29-a390-bb7c061c51ee">AI could drastically change how law firms operate, too</h2>Werner, the partner at Cooley, called it a "very dynamic moment" for tech attorneys as he warned that law firms also need to be thinking about how <a target="_blank" class="" href="https://www.businessinsider.com/chatgpt-jobs-at-risk-replacement-artificial-intelligence-ai-labor-trends-2023-02#accountants-9">AI is disrupting their own industry</a>."Today, we're doing great," Werner said, before raising questions about how the legal industry will be impacted by AI in the future."Big law firms that are not thinking deeply about business model issues are going to be in trouble in 10,15, 20 years, for sure," he cautioned.

AI is ushering in a tech lawyer 'golden age' — for now 

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">GettyBrianne Theisen Eaton of Canada competes in the long jump during the women's heptathlon during the Hypomeeting Gotzis 2015 at the Mosle Stadiom on May 31, 2015 in Gotzis, Austria.</div></div></div>Global growth will slow because the working age population in some of the key centres for economic activity is falling, say Barclays.However, Barclays' Michael Gavin also highlighted in a research note this week about how women are replacing men economically and this is a good thing.In some cases, like in Japan, Barclays said that by having more women and old people entering the workforce, it is helping mitigate some of the economic damage from dwindling labour market participation from men:The working age population of the existing centers of global economic activity has stopped rising and begun to fall. All else equal (including in particular productivity growth and labor force participation), the implied slowdown in the global labor force could subtract a full percentage point from trend growth in the coming decade and a half, compared with the past 15 years.But the effect of shrinking (and aging) populations on the global workforce could be mitigated by labor force participation of workers beyond the conventional working age (15-64) and by increased participation rates of the working age population. In the past decade, precisely this has happened in Japan and Germany, substantially mitigating the demographic shock.Take a look at these charts. Effectively, more women of the "prime working age" bracket are joining the labour market, while more men in this category are leaving it. This in turn is helping stop the "demographic shock" that Barclays is talking about:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Barclays Research</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/cristiano-ronaldo-spends-money-salary-fortune-real-madrid-2015-5">Here's how Cristiano Ronaldo spends his money</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="llMjZ5dDqpB7jsQJWbJ6u82dpovJ7vWo" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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