Henry Noye, a partner, and member of Obermayer’s Catastrophic Loss Group was quoted on Axios on August 18, 2023, in connection with the tech companies’ challenge on how to balance asking users for more data in order to deliver new AI features without scaring away privacy-conscious businesses and consumers.
Companies are deploying different approaches to ensure they have access to user data. At the same time, many are also adding in language to prevent anyone else from scraping their websites to train AI systems. Further, the absence of a federal privacy law fosters an AI development environment that allows companies to grab more data without facing limits or consequences.
According to Henry Noye, one of the challenges is businesses are feeling pressure to adopt AI ahead of rivals, but at the same time they are doing so at a time when it is really hard to quantify the risks.“I would just really advise corporations to understand that this is an evolving, fluid situation,” he said.
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