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Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Artificial intelligence and the maritime sector: key issues when contracting to procure
Global | Publication | June 2024
This article was first published by the Institute of Chartered Shipbrokers in 2024.
Like most other industries, the maritime sector is turning its attention to the possibilities offered up by Artificial intelligence (AI). Here we consider issues raised by contracting to procure the supply of AI in the maritime sector. We look at:
- How AI will impact upon the maritime sector;
- The implications of regulating AI for the maritime sector in relation to contracting for the procurement of AI;
- What is unique about AI that changes the approach to contracting for its procurement;
- Does the development and supply model change what should be in an AI procurement contract?
- What the AI deployer (the business using the AI system) will want to have in the procurement contract;
- What the AI provider (the business which develops an AI system) is likely to want in the contract; and
- Whether the EU AI Act is relevant to the procurement of AI in the maritime sector.
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