7 ASIAN LEGAL BUSINESS – JANUARY-FEBRUARY 2024 WWW.LEGALBUSINESSONLINE.COM BRI EFS decisions have been made yet locally, nor have Singaporean regulators laid out their position in a definitive manner on this matter. The pair also cite the Personal Data Protection Act (PDPA) as an important page in Singapore’s AI regulatory tool book. The PDPA imposes certain obligations on organisations when it comes to the collection, use, and disclosure of personal data, regardless of technology. In addition, when the question of liability arises in scenarios where the application does not perform as expected, causing physical harm, financial loss, or intangible harms like discrimination, Lim and Seah believe existing tort and contract law principles have the answers. “The unique features of AI - it is a black box and can learn from experience without being explicitly programmed - may pose some challenges to these principles, but the common law develops incrementally and flexibly, and we are confident that our courts will be able to deal with it,” they say. “Singapore already had a case (Quoine Ptd Ltd v B2C2 Ltd [2020] SGCA(I) 02) which dealt with algorithms executing contracts without involving DEALS $14.9 BLN Nippon Steel’s acquisition of U.S. Steel Deal Type: M&A Firms: Milbank; Ropes & Gray; Wachtell, Lipton, Rosen & Katz Jurisdictions: Japan, U.S. $4.9 BLN Sekisui House’s acquisition of MDC Holdings Deal Type: M&A Firms: Brownstein Hyatt Farber Schreck; Morrison Foerster; Paul, Weiss, Rifkind, Wharton & Garrison Jurisdictions: Japan, U.S. $4.7 BLN Japan Investment Corp’s offer to buy Shinko Electric from Fujitsu Deal Type: M&A Firms: Davis Polk & Wardwell; Mori Hamada & Matsumoto; Nishimura & Asahi Jurisdiction: Japan $3.3 BLN Royal Golden Eagle’s acquisition of Vinda International Holdings Deal Type: M&A Firm: Norton Rose Fulbright Jurisdictions: Hong Kong, Indonesia $2.5 BLN Data Infrastructure Trust’s acquisition of American Tower Corp’s India operations Deal Type: M&A Firms: S&R Associates; Talwar Thakore & Associates Jurisdictions: India, U.S. $2.2 BLN Taiwan Cement Corporation’s investment in OYAK’s cement business Deal Type: M&A Firms: Esin Attorney Partnership; Sullivan & Cromwell Jurisdictions: Turkey, Taiwan $1.5 BLN Maruti Suzuki India’s buyout of Suzuki Motor Gujarat from Suzuki Motor Corporation Deal Type: M&A Firms: Nagashima Ohno & Tsunematsu; Saraf and Partners; Shardul Amarchand Mangaldas Jurisdictions: India, Japan $1 BLN Highways Infrastructure Trust’s acquisition of 12 road projects from PNC Infratech Deal Type: M&A Firms: Shardul Amarchand Mangaldas; Trilegal Jurisdiction: India humans, although the program in that case was deterministic (i.e. it will always produce the same output with the same input and not develop its own responses to varying conditions). It would be interesting to see how the principles apply to AI where it is non-deterministic,” add Lim and Seah. At the end of the day, the pair is confident that regulators are flexible and can simply just amend the legislation as the situation evolves. “Ultimately, the responsible use of AI is what is important, more so than how the use is regulated,” they say.