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LLRX May 2024 Issue – Articles and Columns

  • Ransomware in the Digital Age: Multidisciplinary Legal Strategies for Minimizing Cryptocurrency Ransom Payments –  Jawad Ramal explains how using cryptocurrencies to facilitate ransom payments offers complex challenges due to their high transaction costs and regulatory ambiguities that complicate compliance efforts.
  • Dissecting The Processes of Law Firm Strategic PlanningPatrick J. McKenna and Michael B. Rynowecer canvassed and received detailed feedback from firm leaders, all from firms of over 100 lawyers in size, on their specific approach to strategic planning and their responses to 16 sequential questions covering everything from who was involved in developing their current strategic plan and how long it took, to how satisfied they were and the one thing they would change with respect to their efforts going into the future.
  • AI in Banking and Finance, May 31, 2024Seven highlights from this post: Banks could lose $40 billion from fraud with the help of AI, Deloitte predicts; Mastercard’s AI system is helping banks keep fraudsters in check — and it could save millions of dollars; Measuring Development 2024: AI, the Next Generation; Gita Gopinath: Crisis Amplifier? How to Prevent AI from Worsening the Next Economic Downturn; JPMorgan is making a big bet on AI. Here’s how its private bankers are using it; Will banking’s increasing turn toward AI level the playing field or widen the gap between big and small banks?; and Artificial intelligence (AI) act: EU Council gives final green light to the first worldwide rules on AI.
  • Evaluating Generative AI for Legal Research: A Benchmarking ProjectRebecca Fordon, Sean Harrington and Christine Park plan to propose a typology of legal research tasks based on existing computer and information science scholarship and draft corresponding questions using the typology, with rubrics others can use to score the tools they use.
  • The Federal Reserve Banks’ New Transparency and Accountability Policy –  On December 21, 2023, the Federal Reserve Banks each announced the adoption of a uniform Transparency and Accountability Policy (TAP). The Banks have begun responding to public records requests under that policy. Following implementation of the new policy, Michael Ravnitzky initiated several records requests directed at individual Fed Banks, utilizing the provisions of the TAP. His extensively documented evaluation of the new process is that TAP is a good start but it has some shortcomings.
  • A Chat With Legal Rebel Richard GranatJerry Lawson had a conversation with Richard Granat, a lawyer, frequent speaker on legal technology, blogger, and consultant. His professional work has earned many awards, including the ABA’s Legal Rebel Award, the ABA’s Louis M. Brown Lifetime Achievement Award, and the ABA’s James I. Keane Memorial Award. He has long been a leader in using technology to improve access to legal services.
  • How to tell if a conspiracy theory is probably false – Conspiracy theories abound. What should you believe − and how can you tell? H. Colleen Sinclair, a social psychologist who studies misleading narratives, identifies seven step you can take to vet a claim you’ve seen or heard.
  • AI in Banking and Finance, May 15, 2024Four highlights from this post: Artificial Intelligence and the Skill Premium; Rising Cyber Threats Pose Serious Concerns for Financial Stability; The Future Of Banking: Morgan Stanley And The Rise Of AI-Driven Financial Advice; and The Pitfalls of Mixing Up AI and Automation in Finance.
  • What Happens When Your Art is Used to Train AI – A conversation with web cartoonist Dorothy Gambrell on the curdled internet, labor, and how we became just numbers.
  • As climate change amplifies urban flooding, here’s how communities can become ‘sponge cities’ – Dr. Franco Montalto is a water resources engineer who studies and designs strategies for sustainably managing urban stormwater. In response to recent flooding episodes, some U.S. cities are beginning to take steps toward incorporation of sponge city concepts into their stormwater management plans, but most of these projects are still pilots. If this concept is to evolve into the new standard for urban design, city officials and developers will need to find ways to scale up and accelerate this work.
  • If using LinkedIn makes you feel like an imposter at work, here’s how to copeDr. Sebastian Oliver acknowledges when it comes to professional social media, LinkedIn, with its billion-plus members, stands unrivaled. The platform for career updates, networking and job searches has effectively become a requirement in the professional world. It can be a great tool to help you progress in your career. But, as Oliver describes, just like other social media, using LinkedIn can lead to feelings of envy, comparison and self-doubt.
  • Pete Recommends – Weekly highlights on cyber security issues – 4 new columns for May 2024

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