1 ASIAN LEGAL BUSINESS – JANUARY-FEBRUARY 2024 WWW.LEGALBUSINESSONLINE.COM COVER STORY 16 Innovation unleashed It has been barely a year since generative artificial intelligence (Gen AI) entered the mainstream, and since then, it has swiftly and comprehensively captured the imaginations of business leaders and the public like no other emerging technology till date. Companies realise that if they don’t get on board now, they risk getting left behind. By Ranajit Dam Plus: - Microsoft HK Limited FEATURES 14 New dawn Japan has become the region’s new PE darling, bolstered by favourable monetary policies and government initiatives, market and regulatory reforms, and its unique socioeconomic development. And lawyers are bullish about the country’s PE activity going into 2024. 20 ALB Singapore Firms to Watch 2024 Singapore’s dynamic legal landscape is witnessing a surge in boutique firms that have distinguished themselves from the pack. These firms are challenging traditional models by offering specialised expertise, personalised service, and innovative approaches to legal challenges, making them ones to watch in the years to come. Like in previous years, ALB continues to highlight impactful boutique firms that have carved their own niches and made waves in the market. 24 Capital times on D-Street It’s been a recordsetting year for India’s IPO market, and law firms have reaped the benefits, representing issuing companies and lead managers. And the party isn’t expected to end any time soon: Lawyers believe there is a lot more is to come in 2024 despite the upcoming general elections. 28 ALB Indonesia Rising Stars 2024 In its annual feature, Asian Legal Business celebrates the next generation of legal talent in Indonesia. These high-performing lawyers are not only delivering impressive results but also winning rave reviews from satisfied clients. 32 Safe harbours Offshore jurisdictions like Jersey, Cayman Islands and BVI last year passed legislation that indicated they were welcoming virtual assets service providers (VASPs). Lawyers share that this will allow VASPs to anchor in the said jurisdictions despite increased regulatory burdens, compliance costs and stringent penalties. 36 Open horizons The increased liberalisation of markets in the Philippines is driving more international business and law firms to its shores, as the legal market prepares for increased billing, growing in-house capabilities and a talent war. BRI EFS 3 The Briefing 4 Forum 7 Deals 9 Q&A 10 Appointments CONTENTS 14 New dawn Image: giggsy25/