Artificial intelligence and its legal challenges Lexology

Is there a greater challenge than to write a legal article on an emerging technology that does not exist yet in its absolute form? Artificial intelligence, through a broad spectrum of branches and applications, will impact corporate and business integrity, corporate governance, distribution of financial products and services, intellectual property rights, privacy and data protection, employment, civil and contractual liability, and a significant number of other legal fields. Artificial intelligence is "the science and engineering of making intelligence machines, especially intelligent computer programs".1 Essentially, artificial intelligence technologies aim to allow machines to mimic "cognitive" functions of humans, such as learning and problem solving, in order for them to conduct tasks that are normally performed by humans. In practice, the functions of artificial intelligence are achieved by accessing and analyzing massive data (also known as "big data") via certain algorithms. As set forth in a report published by McKinsey & Company in 2013 on disruptive technologies, "[i]mportant technologies can come in any field or emerge from any scientific discipline, but they share four characteristics: high rate of technological change, broad potential scope of impact, large economic value that could be affected, and substantial potential for disruptive economic impact".2