This article provides an excellent overview of the challenges insurers face in drafting policy language that keeps pace with the fast-evolving use of artificial intelligence. The author discusses how multiple insurers faced the challenge of defining what is “artificial intelligence” or “generative AI” by consulting with various industry sources. I
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Illinois Legislature Considering Legislation Recognizing Legality of Smart Contracts
The Illinois state legislature is considering a bill which would put the state among the select few specifically granting legal recognition to blockchain “smart contracts” by placing smart contracts on an equal footing with traditional written contracts. Key provisions of House Bill 5553 include among others:
- An express prohibition of
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