5 ASIAN LEGAL BUSINESS – JUNE 2023 WWW.LEGALBUSINESSONLINE.COM BRI EFS MICHELLE MAHONEY, executive director of innovation, King & Wood Mallesons King & Wood Mallesons has been using AI models on client engagements since 2015. However, with any new technology, large language model (LLM) tools like ChatGPT are not deterministic. They carry risks around reliability, accuracy, providence, output quality and privacy. To mitigate these risks, the firm has implemented a number of guardrails. While the firm encourages staff to learn, test and explore embedding, prompt engineering and elaboration skills with tools like ChatGPT, no client data (in any format), firm data or information about individuals is allowed to be used during experimentation and learning. As the generative AI model landscape continues to evolve at pace, we are developing a robust AI risk management framework, an AI ethical use policy, as well as training for employees to support implementation. We are also watching key developments worldwide, including the recent passing of the EU AI Act, discussion surrounding AI inputs (data used when training an AI system) and outputs (data generated by an AI system), and the application of copyright law. Earlier this month, Japan decided that using datasets for training AI models does not violate copyright law. King & Wood Mallesons remains committed to supporting innovation and building the digital literacy skills of our people. We are excited by the role AI tools will play in how we deliver value for our clients and new growth opportunities. DEALS N/A Mubadala’s purchase of stake in Fortress Investment Group from SoftBank Deal Type: M&A Firms: Kirkland & Ellis; Morrison & Foerster; Shearman & Sterling Jurisdictions: Japan, UAE, U.S. $1.4 BLN Brookfield Asset Management’s sale of properties Brookfield India and GIC Deal Type: M&A Firms: Khaitan & Co; Shardul Amarchand Mangaldas; Trilegal Jurisdiction: India, Singapore $1.1 BLN SBI Holdings’ takeover bid for SBI Shinsei Bank Deal Type: M&A Firms: Anderson Mori & Tomotsune; Nishimura & Asahi Jurisdiction: Japan $743 MLN Nippon Express Holdings’ planned purchase of stake in Cargo-Partner Deal Type: M&A Firms: Freshfields Bruckhaus Deringer; Schoenherr Attorneys Jurisdictions: Austria, Japan $570 MLN Blackstone’s acquisition of International Gemological Institute Deal Type: IPO Firms: Cyril Amarchand Mangaldas; Freshfields Bruckhaus Deringer; Simpson Thacher & Bartlett Jurisdictions: China, France, India, U.S. $500 MLN Establishment of Japanese renewables platform Nozomi Energy Deal Type: Project Firm: Linklaters Jurisdictions: Japan, UK $342 MLN JSW Infrastructure’s planned IPO Deal Type: IPO Firms: Khaitan & Co; Trilegal Jurisdiction: India $218 MLN Samsung Display’s acquisition of eMagin Deal Type: M&A Firms: Goodwin Procter; O’Melveny & Myers; White & Case Jurisdictions: Korea, U.S.