Data Protection

FinTech: Who is responsible if AI makes mistakes when suggesting investments?

The recently reported legal action brought for damages due to wrong investments resulting from algorithms-based automated decision-making processes is one of the first known cases of this type. The case has received some attention from the media worldwide and has contributed to reopen the debate on the issue of liability connected to the use of Artificial Intelligence systems (“AI”). The question at issue is, in brief: who is held liable for the damages caused by AI and who shall compensate such damages, if any.

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Top 3 privacy predictions for 2019

2018 brought us considerable changes in the data protection world. The EU General Data Protection Regulation No. 679/2016 (GDPR) finally became applicable, introducing in the privacy law context its expected innovative principles and rules. But as soon as the GDPR entered into force, the EU Member States began to think about the adequacy of their national legislation. As a consequence, most of EU countries decided to adopt a new local legislation in order to review, amend and, therefore, adequate their local laws to the newcomer GDPR.

But what will happen in the next 12 months? Here our personal predictions on privacy legal issues for 2019.

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Artificial intelligence and fashion: between innovation and creativity

At the beginning of the year, in our fashion predictions we put artificial intelligence (“AI”) at the top of the fashion agenda and ‒ yes, no magic sphere needed! ‒ we were actually right.

Technology has had a huge impact on the fashion industry and in the last year all the retail giants took an algorithmic approach to fashion. After Amazon’s Echo Look app which gives feedback or recommendations on your outfits and Zara’s interactive fitting rooms, with mirrors recognizing the clothes that you are wearing and suggesting others to match them based on style, color and mood, also Yoox explored the potential of AI.

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New guidelines for EU Financial Institutions moving to Cloud Computing

Prompted by the increasing interest for the use of cloud outsourcing solutions within the banking industry, the European Banking Authority (“EBA“) has recently issued the final recommendations on the use of cloud service providers by financial institutions (“Recommendations“), which will be applicable as of 1 July 2018.

Top 4 blockchain predictions for 2018

The buzzing explosion of new technologies lately is coated with fear because of the growing number of cybersecurity meltdowns spreading all over and paralyzing users and markets. The lifeline has been identified in what seems to be the culmination of decades of research and breakthroughs in cryptography and security: blockchain. Here are our top predictions for 2018.