Litigating Artificial Intelligence: When Does AI Violate Our Legal Rights?

Litigating Artificial Intelligence: When Does AI Violate Our Legal Rights?
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May 27, 2021, 3:20 PM
·3 min read
From the minds of Canada’s leading law and technology experts comes a playbook for understanding the multi-faceted intersection of AI and the law
TORONTO, May 27, 2021 (GLOBE NEWSWIRE) -- We are living in an Artificial Intelligence (AI) boom. Self-driving cars, personal voice assistants, and facial recognition technology are just a few of the AI-enabled technologies permeating into everyday life. But what happens when AI causes harm or violates our rights? If your self-driving car gets into an accident while on autopilot, are you responsible? Can your smart speaker legally record your private conversations?
Emond Publishing, Canada’s leading independent legal publisher, today announced the release of Litigating Artificial Intelligence , a book examining AI-informed legal determinations, AI-based lawsuits, and AI-enabled litigation tools. Anchored by the expertise of general editors Jill R. Presser, Jesse Beatson, and Gerald Chan, this title offers practical insights regarding AI’s decision-making capabilities, position in evidence law and product-based lawsuits, role in automating legal work, and use by the courts, tribunals, and government agencies.
For example, can government agencies use AI-powered facial recognition software to identify BLM protestors and Capitol rioters, or does this violate privacy rights? Who is liable, users, developers, or AI? What laws are in place to prevent AI-related crimes, and how do litigators prosecute the responsible parties?
Jill R. Presser, Co-Chair and Founding Member of the Criminal Lawyers' Association Criminal Law and Technology Committee, says, “AI is still the wild west, the frontier where the law hasn’t yet come to town. AI tools are already in widespread and growing use, and yet there is no, or very little, law governing them.”
The public implicitly trusts AI technologies, and developers hail them as humanity’s panacea, but this short-sighted techno-positivism, without regulation and litigation frameworks, increases AI’s potential to harm rather than help humanity.
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So how will AI affect legal practices and courtrooms? “Decision-makers are increasingly turning to AI-enabled tools in the context of immigration screening, bail and sentencing in Criminal Courts, and the hiring of new employees. While AI can supercharge your legal practice, the same algorithmic tools in the hands of adjudicators can import systemic bias, and litigators need to be prepared to tackle these challenges,” says Jesse Beatson, 2019 winner of the JSD Tory Research and Writing Award for his paper on AI and tribunal adjudications.
The intersection of AI and the law is inexorable. As a leader in the global AI race, Canada has an opportunity to construct legal and ethical frameworks that safeguard human rights and due process, and in doing so, become a model for other nations. Gerald Chan, Canada’s foremost legal expert in digital evidence, states, “Litigating Artificial Intelligence is an effort on our part to get ahead of the AI revolution and think critically about how litigators can grapple with its benefits, but also its potential harms.”
For more information on Litigating Artificial Intelligence, visit emond.ca/ai21
To hear from the General Editors, watch the Litigating Artificial Intelligence book trailer .
Download a sample chapter of Litigating Artificial Intelligence here .
For additional marketing materials, visit this Dropbox link .
For more information about Emond Publishing, please visit emond.ca
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This isn’t just the typical market risk but, with the hype of Reddit factoring in, you’ve also got other things to consider. Needless to say, being on the right side of a Reddit stock trade isn’t usually a bad thing. Remember, there are far more things you can use to find top penny stocks. One of these research tools is looking into what analysts are saying. Comments from some top firms, price targets, and research reports seem to have resonated well with retail investors. In this article, we’ll discuss some of the popular penny stocks on Reddit that have also gained interest from some of Wall Street’s top firms covering smaller companies. After seeing what they’ve discussed, it could bring some extra data to add to your diligence process to decide if certain hyped-up stocks are worth the risk. Penny Stocks to Buy According to Wall Street Analysts: Ideanomics Inc. (NASDAQ: IDEX) Ideanomics has seen a surge of interest over the last few weeks on Reddit. 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(NASDAQ: TELL) Shares of Tellurian have also surged this month on the back of the bullish retail trading sentiment. Since May 3rd, shares of TELL stock have climbed by more than 80%. It reached highs this week of $4.13, just 26 cents shy of the 52-week high it set back in January. Tellurian hasn’t only been one of the Reddit penny stocks to watch. With growing interest in the reopening trade and epicenter stocks, natural gas companies have gained ground. These were some of the hardest hit during the early days of the pandemic, thanks to a drop in travel and commerce. Tellurian stock was actively trading over $7 per share before the pandemic melt-down last year to give you an idea. If Wolfe Research analysts are to be believed, Tellurian ould be set to return to those levels as well. The company recently boosted its price target from $5 to $7 while maintaining its Outperform rating. Wolfe analyst Sam Margolin highlighted that prospects for Tellurian’s Driftwood liquified natural gas project are “improved” based on a recent jump in global LNG prices. Margolin further explains that the project's "appeal is durable in commodity price environments." Margolin's comments could be further supported in light of the company’s recent agreement with Gunvor Singapore Pte Ltd. In May, Tellurian signed a 10-year deal with Gunvor for the sale and purchase of liquefied natural gas, which includes 3 million tons per year during the period. Emphasizing the potential of the deal, Executive Vice President LNG Marketing & Trading Tarek Souki said, “Our business model creates significant value for Tellurian; at today’s LNG prices, this agreement represents the equivalent of approximately $12 billion in revenue over the 10-year term of the agreement.” Organigram (NASDAQ: OGI) Some marijuana stocks have cooled in recent weeks. However, thanks to a mix of corporate milestones and Reddit--fueled hype, shares of Organigram have gone against the broader trend. If you look at industry ETFs like the ETFMG Alternative Harvest ETF (NYSE: MJ) or the AdvisorShares Pure US Cannabis ETF (NYSE: MSOS), they paint a relatively muted cannabis market. However, if you look at OGI stock this month, the trend is different. Shares have climbed from around $2.50 to highs this week of over $3. If analysts at Stifel Nicolaus and Raymond James are to be believed, Organigam could have more upside to it. Earlier this quarter, both firms raised their targets to $6 CAD or roughly $4.97 USD. Raymond James analysts have found that the company’s recent M&A strategy could add to its value proposition. Analyst Rahul Sarugaser wrote, “We see today’s acquisition of EIC as OGI’s move to consolidate its already-strong position in the Canadian edibles market, adding top-quality soft chew manufacturing expertise to its industry-leading automated chocolate manufacturing capabilities.” Organigram purchased The Edibles & Infusions Corporation (EIC) in April for $22 million, plus up to an additional $13 million in OGI stock based on milestones. The focus of this acquisition was to gain access to EIC’s edibles portfolio. First sales of its products are expected in Q4 of this year. This M&A trend seems to be a focus for several cannabis companies right now. This week, Hexo Corp. (NYSE: HEXO) announced a $925 million CAD purchase of Redecan, creating a massive Canadian recreational cannabis company. The milestone deal is broken up into a $400 million CAD cash payment with the remaining portion due in shares of HEXO stock. You also can’t forget Tilray’s (NASDAQ: TLRY) acquisition of Aphria. 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The 1Q21 earnings report showed an after-tax profit of $516.7 million, compared to a year-ago quarterly loss of $79.2 million. The company disclosed that this gross profit included a one-time $660 million non-cash benefit “arising from lower share price impact on items held at fair value and remeasurements.” Total revenues from operations was reported at $485 million, up 46% year-over-year, and higher than the $457 million analysts had expected. One key metric, the gross merchandise value of orders processed over the company’s platform, rose 49% year-over-year, to $915.6 million. Farfetch’s success grows from a strong user base. The company boasts more than 3 million active customers, and operations in 190 countries. Sellers on the platform have made available over 1,300 luxury brands. Even after a pullback in share value during the first half of 2021, the stock is still up an impressive 234% in the last 12 months. Among FTCH's fans is Soros. In his most recent disclosure, Soros revealed that his fund purchased 125,000 shares of FTCH, a holding now valued more than $5.5 million. Turning to the analyst community, Credit Suisse's 5-star analyst Stephen Ju rates FTCH an Outperform (i.e. Buy) along with a $78 price target. Investors stand to pocket ~88% gain should the analyst's thesis play out. (To watch Ju’s track record, click here) “We have a favorable view toward the company maintaining the adjusted EBITDA guidance as Farfetch will reinvest the higher top line contributions toward customer acquisition – supporting long term adoption rates. We model ~700k new customers for 2021, ~600k for 2022 and beginning in 2023 our expectations are also unchanged at ~1.2 million to 1.5 million,” Ju opined. The analyst summed up, "Our investment thesis points remain: 1) large $300 billion addressable market remains fragmented and underpenetrated, 2) relative protection from competition from larger cap online competitors, 3) exposure to rising adoption of luxury goods in APAC as well as emerging markets." Most analysts back Ju's confident take on the online fashion firm, as TipRanks analytics showcase FTCH as a Strong Buy. Based on 8 analysts polled in the last 3 months, 6 rate the stock a Buy, while 2 give it a Hold. The 12-month average price target stands at $60.63, marking ~37% upside from current levels. (See FTCH stock analysis on TipRanks) Coursera (COUR) The next stock we’re looking at, Coursera, is a MOOC company – a massive open online course provider. This niche leverages the size and reach of the internet to make a wide range of top-line university courses available to the masses. Coursera is a leader in the field, and since its founding in 2012 it has made available more than 4,000 courses from over 200 universities, in more than 30 degree programs, and at lower cost than in-person classes. Through Coursera, students can take classes at such top-level schools as Imperial College London, University of Illinois Urbana-Champaign, University of Michigan, and Johns Hopkins. The company boasts that over 77 million students have used its services. While the company is 9 years old, it is new to the public markets; Coursera held its IPO at the end of March this year. It made 15.73 million shares available on the NYSE, at an opening price of $33. This was the high end of the initial pricing range, which has been set between $30 and $33. Overall, the IPO raised $519 million, before expenses. At the beginning of May, Coursera released its first quarterly report since going public. The report showed $88.4 million in total revenue, a 64% gain year-over-year. The company’s gross profit, at $49.5 million, was up 71% from the year-ago quarter. George Soros saw an opportunity in this IPO, and his fund picked up 105,000 shares of the company. This new position is valued at ~$4 million at current share prices. Among the bulls is 5-star analyst Ryan MacDonald, of Needham, who lays out a clear, upbeat case for Coursera shares. “Given the increasing role of automation, the widening skills gap, and the shift to online learning, we believe Coursera's comprehensive platform will help it gain share in a large TAM that we size between $47B-$50.6B. While the COVID-driven tailwind to registered learner growth in FY20 creates a difficult consumer segment comp in FY21, we believe Coursera's efficient GTM motion and shift towards higher value enterprise and degrees offerings can drive durable 25%+ growth and gross margin expansion,” MacDonald noted. To this end, MacDonald rates COUR shares a Buy and his $56 price target indicates confidence in a 47% upside over the next 12 months. (To watch MacDonald’s track record, click here) In its short time on the stock exchange, COUR has picked up 14 analyst reviews, with a breakdown of 12 Buys to 2 Holds to back the Strong Buy consensus rating. Shares are trading for $38 and their $54.67 average price target implies a one-year upside of 44%. (See COUR stock analysis on TipRanks) Sotera Health (SHC) Last up on our list of new positions from George Soros is Sotera Health, a holding company whose subsidiaries offer a range of advisory services, lab testing, and sterilization services in the healthcare industry. Sotera’s businesses cate to more than 5,800 health industry customers in over 50 countries. The company boasts 13 labs capable of carrying out more than 800 tests, and 50 sterilization facilities. Sotera’s customer base includes 75 of the top 100 medical device makers and 8 of the top 10 pharmaceutical companies. SHC shares went public on November 24 of last year, in an IPO that sold 53.6 million shares and raised $1.2 billion. The capital raised was used to pay down existing debt. The company has been working assiduously to bring down debt levels, and in the 1Q21 report stated that it had a total debt of $1.87 billion and available cash of $108 million. Net revenue in Q1 was $212 million, up 13% from the year before. Net income showed a strong gain, turning around from a 1-cent per share loss a year ago to a 4 cent EPS profit. In Q1, Soros took a new position in Sotera, buying 179,274 shares in the stock. At current share prices, this holding is worth over $4.3 million. Tycho Peterson, 5-star analyst with JPMorgan, likes SHC, and rates the stock an Overweight (i.e. Buy). His price target of $35 suggests an upside of 45% from current trading levels. (To watch Peterson’s track record, click here) Backing his stance, Peterson writes, “1Q results were generally strong, and although guidance remains unchanged, it should provide a pathway to upside for the balance of 2021, as we continue to be fans of the company’s diversified operating platform, sticky multi-year contracts, an efficient pricing strategy and high regulatory oversight, altogether supporting its wide competitive moat, with FCF to support de-leveraging…” Overall, the Street in unanimous in its outlook on Sotera shares; the stock has 8 recent positive reviews supporting its Strong Buy analyst consensus rating. The shares are trading for $24.06 and their average price target of $31.75 implies a one-year upside of ~32%. (See SHC stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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