17 ASIAN LEGAL BUSINESS – JANUARY-FEBRUARY 2024 WWW.LEGALBUSINESSONLINE.COM COVER STORY this technology through iterative implementation and risk management. Can you share some recent AI initiatives at Jardines? How is Gen AI changing daily legal work? In 2023, Jardines hosted a series of events and activities introducing employees to Gen AI. They revealed its potential and surfaced areas of concern. Gen AI is a game-changer for the legal industry. It enhances what lawyers do, freeing time for higher-value tasks. In November, LITE Lab’s Founding Executive Director Brian Tang and I led an interactive workshop in Bangkok for 70-plus Jardines lawyers across Jardines’ different business units. We wanted them to experience first-hand Gen AI’s potential and limitations. For many, it was their first exposure. With Microsoft’s Azure OpenAI GPT-4 model and support from Innovate Jardines (Jardines’ innovation and technology team), we created hands-on exercises and reflections to spark brainstorming and C-suite deliverables. The enthusiastic feedback highlighted untapped potential across industries and jurisdictions. While AI augments work, it doesn’t replace our lawyers’ rich experience and deep-seated corporate knowledge. Responsibly exploring this shift offers an exciting opportunity. How does your legal team help identify, manage and mitigate legal/regulatory risks from Jardines’ AI initiatives? We worked with Innovate Jardines to develop an acceptable use policy for Gen AI. This involved defining risks and limitations and outlining mitigation tactics. Partnering with Microsoft, Jardines deployed a private ChatGPT instance for internal use only. Importantly, this addressed security and confidentiality needs. We also launched Gen AI awareness training for employees. What key factors does Jardines consider when selecting AI solution providers? Rigorous due diligence is conducted from commercial, cybersecurity, operational and legal standpoints, depending on how and when the technology may be deployed. Ensuring compliance with privacy laws is paramount if AI involves customer interactions. Overall, appropriate controls must be designed for any new solution from the get-go. AARON BLEASDALE Managing Associate General Counsel, Data Legal, Asia-Pacific, HSBC How has Gen AI impacted financial services processes or decision-making based on your experiences? HSBC has used AI for over a decade to enhance customer experience, detect financial crime and improve decisionmaking. Through broader data analysis and Gen AI’s ability to “understand” language and generate human-like text, it can help firms better navigate complex internal policies and procedures. We are cautiously exploring Gen AI opportunities. It may assist our colleagues in better supporting customers and working more efficiently. We are researching use cases and building a Groupwide strategy. Several internal prototypes are underway. Partnering with major tech companies like Microsoft, OpenAI and GitHub enhances our understanding of AI platforms and tools. Gen AI is also being integrated into our products and services to benefit customers, including our AI Global Opportunities (AiGO8) index and AI Markets. As someone overseeing both legal services and technology, how have you collaborated with technology teams to integrate Gen AI into legal work? Our AI Legal Innovation Group assesses potential AI use cases for legal operations. Our approach focuses on three key areas: increasing efficiency, reducing risk and enhancing compliance. We’re developing an internal business-facing chatbot to answer common legal questions and direct users to the right lawyers. We are exploring tools that help with retrieving information and performing drafting, regulatory review and even research. Computers excel at understanding and using human language but require oversight. Whilst potential is huge, safe and responsible deployment is key. Our planned applications focus on augmenting lawyers’ capabilities rather than replacing them. The human lawyers will remain in the driver’s seat and be accountable for their output. A lawyer who is fully aware of a Gen AI’s capabilities and limitations can wield its power effectively. It’s not just about automating tasks, but augmenting legal expertise using Gen AI. By collaborating with the bank’s technology team, strategic technology partners, partner law firms and alternative legal service providers, we can harness the power of AI to transform our operations for enhanced client service. Looking forward, what key trends do you foresee in the use of Gen AI within the financial services industry, and what advice would you offer to legal and compliance leaders considering investment/expansion of Gen AI capabilities? The use of Gen AI will continue increasing across the financial services industry. We’ll see more applications for activities like coding, information management, data analysis, marketing and customer interactions. This will help deliver more tailored products and services to customers, and generate more insightful analytics to facilitate better and quicker decision-making. By combining HSBC’s scale and stability with the mindset of a tech start-up, we can nurture
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