The onset of the artificial intelligence (AI) boom has already made headwinds in the way companies operate – with every business in every sector looking to capture the opportunity yet we’re only just grasping the true magnitude of its implications on intellectual property (IP) law and how IP insurance markets are reacting to this rapidly changing risk landscape.
According to Bloomberg Research, the AI industry is expected to grow to a value of $1.3T over the next 10 years. As a result, tools like ChatGPT are a quickly developing form of risk that pulls from numerous outside sources that may contain copyrighted material without permission. This process introduces two key IP concerns: accidental IP infringement, and the question of who owns this AI-generated output.