Dispelling the Myths and Identifying the Risks for the In-House Lawyer Confronted with Blockchain and Artificial Intelligence

Charlotte Stetzel, Regional Legal Counsel, DNV GL, UK

The internet analyst firm Gartner has suggested that there will be 20.4 billion devices connected to the internet by 2020. Cisco Visual Networking Index has commented that “More than one billion new internet users are expected, growing from three billion in 2015 to 4.1bn by 2020.” There is rapid innovation in the technology sector with a huge push to digitalise and create data wherever possible. For the last three decades, the internet has driven much of this change promoting the flow of data within and among firms and people. However, now we are witnessing a new wave of innovation in technology that will directly impact the legal profession. The legal industry has a reputation as being conservative and adverse to technological change. However, in-house counsel, law firms and indeed the judiciary and arbitrators must now begin to engage with technological innovation to remain relevant. This article will focus upon the emergence of blockchains and Artificial Intelligence (‘AI’) and how this new technology could potentially shape and change the way in which law firms and in-house legal counsel operate. It also explores the challenges for regulators to control and shape the development of this technology and prevent it being used to undercut existing laws and regulations which balance the human aspects of justice and ethics.

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Artificial Intelligence Energy June 2019 Vol.12, No. 47, Spring 2019

Charlotte Stetzel

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Charlotte has global legal responsibility for Business Assurance in DNV GL, a world leading certification body that works with companies to assure performance through certification, verification, assessment and training. The Business Assurance Group in DNV GL is at the cutting edge of using new technology to improve services. Charlotte has recently been involved in advising on the purchase of a stake in leading public blockchain service provider VeChain and the implementation of My Story, a blockchain based Digital Assurance solution combining physical audits with data collection and verification services. Charlotte is also Regional Legal Counsel for Europe & Africa for the DNV GL Group which, along with a team of 8 lawyers, involves advising 41 countries across all business areas on various legal issues such as contracts, litigation, governmental affairs and M&A . Before joining DNV GL, Charlotte worked for a Magic Circle Firm and a leading International Law Firm where she advised major offshore construction, drilling and other oilfield services contractors. She received instructions from a wide range of jurisdictions and has acted in ICC, LMAA, ICSID and ad hoc arbitrations.

DNV GL

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DNV GL enables organisations to enhance the safety and sustainability of their business in six key areas: Oil and Gas Maritime Business Assurance Digital Solutions Energy DNV GL Rules and Standards A full description of the organisation can be found at : https://www.dnvgl.com

Artificial Intelligence Energy June 2019 Vol.12, No. 47, Spring 2019