South Africa and global insurance, financial institutions, banking and general law know–how
As with any other professional, artificial intelligence (AI) has lawyers wondering how it will disrupt their profession. Unlike the lift operator, AI is not set to replace lawyers, but rather to increase performance and enhance service delivered to clients.
In two separate experiments that took place in the EU and USA, researches applied AI technology…
In February 2017, the UK Court of Appeal found that a woman who lost her long-term partner deserves the same pay-out benefits given to those partners who were married or in a civil partnership.
Current UK legislation provides for fixed-sum pay-outs to the surviving spouse if a person dies as a result of negligence. This,…
On 18 January 2018, the Insurance Act was published in the Government Gazette after it had been assented to by the State President. It is known as the Insurance Act 2017.
The Insurance Act, which was tabled in the National Assembly in January 2016 and completed its journey through the parliamentary process in December 2017,…
In late December 2017, Parliament enacted the long-awaited International Arbitration Act which brings about an overhaul of the international arbitration framework. The Act commenced on 20 December 2017.
The new Arbitration Act regulates international arbitration proceedings in South Africa and governs the enforcement of foreign arbitral awards. The Act, which incorporates the Model Law on…
Artificial intelligence (AI) is rapidly developing and may in the future get a seat at the boardroom table.
The ability of AI to fulfil certain tasks, such as data collection and processing, at a pace exponentially faster than its human counterparts means that businesses cannot function properly without the use of AI in some shape…
Italian directors now have a specific duty of care to properly manage the company if a business crisis or insolvency is looming.
The Italian parliament recently passed a law empowering the government to adopt legislative measures to reform Italy’s current legal framework on business crisis and insolvency.
The directors’ enhanced duty of care starts long…
Artificial intelligence (AI) software has beaten a group of lawyers from top international firms in an insurance claim accuracy test.
A group of students from the University of Cambridge founded an AI start-up that builds systems that predict legal decisions. These systems were recently pitted against more than 100 partners and associates from major corporate…
Minority shareholders are not without recourse when they have suffered from oppressive or unfairly prejudicial conduct by the majority. The minority shareholder can approach the court for an order for the company to buy back their shares.
The Companies Act 2008 provides for the business and affairs of a company to be managed by or…
Creditors of a company in business rescue do not have an unfettered vote to reject a proposed business rescue plan because their vote may be set aside by a court if it is inappropriate.
The Supreme Court of Appeal in Firstrand Bank Ltd v KJ Foods CC considered the meaning of ‘inappropriate’ relating to business…
Estonia may become the first country in the world to grant artificial intelligence (AI) some form of juristic personality, giving robots personal rights and responsibilities.
This northern Baltic country’s Economy Ministry is currently working on legislation to elevate the status of robots using AI to more than that of an object. It is still unclear…
