The Institute at "Artificial Cosmoi and the Law"

An international seminar, chaired by Ioannis Lianos, organised by the Centre for Law, Economics and Society at the UCL Law Faculty, Yale Law School and the Law Faculty of the University of Athens, was held on July 30 in Athens. Alexey Ivanov and Kirill Molodyko participated in the discussion.

Modern technological breakthroughs have led to the "fourth industrial revolution": blockchain, big data, data analysis methods, genome editing with the help of CRISPR, artificial intelligence and machine learning ... Increasingly, there are fears of violation of ‘personal space’ and privacy, especially in the context of the development of digital platforms. Platforming is one of the key trends in the development of modern business processes. The five global companies with the largest capitalisation in the world - Amazon, Apple, Facebook, Google and Microsoft - are all platforms.

 

Legal systems are slowly adapting to social change and the development of new technologies. Even when the law still reacts, as a general rule, it is in a restrictive, restraining manner. Therefore, to date, regulation is too weak an instrument to adapt to the rapid development of technology. For the right not to lose its important function, and not remain on the periphery of business and social life, regulation must be achieved via new approaches to adaptation. It is also important that technology entrepreneurs understand the importance of the legal system and the need to adapt their own business models to their needs. The second annual conference "Artificial Cosmoi and the Law" aimed at discussing the interaction of law and technologies of wide application, such as blockchain and AI, and also it analysed the broader framework of legal constructions of digital capitalism. Among the participants of the seminar were professors of leading world universities and representatives of international expert organisations.