About 30 Terabyte of structured and unstructured data are generated every second by humans and machines. Over the last two years alone about 90% of the worldwide data has been generated. That pace is accelerating with the growth of the Internet of Things (IoT). Advanced computing allows us to capitalise on cognitive models by analysing large volumes of data, running predictive analytics and personalise data with insightful and self-correcting technologies like AI and Machine Learning applications. There are plenty of examples how larger institutions collect, scrub (cleanse), mine and monetize data mostly with the aim to broaden and deepen the customer base by targeting them in a more advanced way. Data never sleeps but how can you make use of it and what are the caveats in doing so? Data analytics is an important topic to understand for the legal profession for not only advising your clients by understanding the inherent risks but also by utilising data analytics for your own powerful decision making.
Speaker : Ms Claudia Marcusson, LL.M., M.Sc.
Questions for Q&A:
- What are main data management challenges?
- What kind of data sets can you potentially utilise to enhance your business by applying (AI driven) analytics?
- A global client of yours works on an international data analytics project. What questions would you deem relevant to ask before giving any legal advice? Please discuss 5 minutes with your neighbour and share your findings with the group. Chatham House Rule applies.