10 Sites to Track Evolving Data Privacy, AI & Blockchain Regulations

It’s ironic when people think lawyers call all the shots when, in fact, you’re beholden to meeting the many demands of statutes, regulations, case deadlines, judges, and clients. And now, you can add data protection and AI and blockchain technologies to your list of everyday concerns.??

Keeping up with the ever-changing laws and regulations surrounding technological disruptions feels like trying to dig a hole at the bottom of a river. So, we rounded up ten resources to help you stay on top of data, AI and blockchain regulations and stress less about the future.

Data Protection Challenges

Improving data security is the top investment priority for all technology executives surveyed in a 2023 MIT study. For a select group of companies that rely heavily on AI and machine learning, spending on data security over the next three years will rise by 101% and on data governance by 85%.?

In 2023, several US states are enacting laws to protect consumers’ rights to own and control their data. They are modeled after the grandfather of them all, the GDPR. The International Association of Privacy Professionals tracks applicable laws and regulations at these sites:

• US Federal Privacy Legislation Tracker
• US State Privacy Legislation Tracker
• EU General Data Protection Regulation

Artificial Intelligence Regulations?

Today, 77% of organizations are using or exploring AI. But if you feel behind the?AI curve, you’re far from alone.?

• Most legal professionals expect “transformational technologies” such as blockchain, machine learning, and AI to impact their organizations within the next three years. Yet, only 35% or fewer understand any of them very well.?
• Much work remains as 73% of legal leaders report that risks relating to AI and other advanced tools— including the use of unsanctioned AI-based apps—are critical threats their organizations are unprepared for.

Education will be key in the years to come. Legal and tech industry leaders will look to develop “responsible AI,” including ethical guidelines, bias elimination, and legal standards for its use. See some of the latest updates here:

• NCSL’s Legislation Related to Artificial Intelligence
• The European Union’s Artificial Intelligence Act
• The US Stop Discrimination by Algorithms Act?
• NIST AI Risk Management Framework

Blockchain Technology

Lawyers familiar with blockchain, cryptocurrency, decentralized finance, and Web3 are in demand as issues arise around regulatory enforcement, taxes, litigation, and more. Decentralization and smart contracts, for example, alter the delivery of services in finance, real estate, insurance, and other industries, raising high-dollar questions.

Becoming a blockchain specialist is optional. Still, most lawyers will benefit from learning about the inner workings of distributed ledger technology and other emerging technologies, especially as they influence traditional areas of litigation, IP, and transactional law.?

The existing regulatory structure in the US covers large parts of the crypto-asset ecosystem, as stated in an October 2022 report from the US Financial Stability Oversight Council. However, the report notes several regulatory gaps that remain. Stay up to date on the latest at:

• Ballard Spahr’s Cryptocurrency and Blockchain Legislative Tracker?
• Global Legal Insight’s Blockchain & Cryptocurrency Laws and Regulations 2023
• Atlantic Council’s Cryptocurrency Regulation Tracker

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For the latest information on emerging legal technology trends and technologies, contact us at Amicus Capital at 877-926-4287. We have been a leader in Transforming the Business of Law? for over 25 years and can help your firm master data privacy and embrace AI and blockchain tools as you pave the way to a new era of success.