Artificial Intelligence and Copyrights

Artificial Intelligence (AI) has been continuously gaining widespread and intense momentum in today's ever-evolving tech-savvy world. With the incorporation of complicated technologies, the AI systems are capable of coming up with astounding inventions and innovations over a matter of time. AI systems can easily create complex works like art, poetry, to name a few, and perform calculations.  However, now the question is whether these works are also capable of getting Intellectual Property (IP) Protection under the Intellectual Property Law, just like any other invention or work produced by human beings or not.

UNDERSTANDING THE TERM ARTIFICIAL INTELLIGENCE

In simple words, Artificial Intelligence or AI refers to the ability of a computer system to make the decisions and do the required processing on its own. It is also defined as the task of processing or acting on information such that the results are synonymous with how an intelligent human being would have responded to in the same situation. After the introduction of AI technology, the question that now arises is whether the creation or output rendered by an AI system is a result of the system's intelligence or its creator. AI-enabled systems have now also gathered the attention of legal Intellectual Property (IP) authorities when computer work is at times denied copyright by the Registrar of Copyrights because of indeterminate legal status.

LINK BETWEEN AI AND COPYRIGHTS

A copyright is an exclusive legal right or an Intellectual Property Right (IPR) granted to the owner or the creator of original work for his unique creation. The subject-matter of copyright includes two things - the work should be original and in tangible form. Generally, copyrights are granted for literary and artistic works. As the creation of literary and artistic works is a contemporary area of the applications of AI systems, the concept of copyrights in the field of Artificial Intelligence is therefore relevant.

COPYRIGHT PROTECTION AND AI

Even after several judgments, the debate regarding the ambiguity of stance continues. The National Commission on New Technological Uses of Copyrighted Works has mentioned in its report that the capability of AI technology or systems to create practical work is theoretical and not practical. On the other hand, the Office of Technology Assessment has a different viewpoint and suggested that AI works can be treated as legitimate co-authors or co-creators of copyrighted works.
Even if the countries agree to grant copyrights to AI works, then there will be another point of discussion about who shall be the copyright owner. As of now, the current law requires a legal person to be the IP right holder. Another loophole is that, if AI systems are sold or purchased, then copyrights shall be granted to the buyer or shall remain with the creator. Many countries, including New Zealand and England, favor the creator in such circumstances. The critical issue in the present legal system is who would bear the criminal liability of AI works. As per the current law, criminal liability falls upon the creator or programmer. Hence the law requires some immediate consideration for removing the loopholes.

REMEDIES AND SUGGESTIONS

1. UNIFORM RECOGNITION - As AI systems have achieved recognition only in a few selected nations, including the US, England, and New Zealand, all other countries must come forward as well and take a positive initiative towards the recognition of such systems.
2. NO AMBIGUITY - With the advent of AI-enabled systems, the confusion regarding Copyright Laws must be removed by the legal authorities and departments as with widespread solutions rendered by AI technology, the protection of such works is now a critical question for every nation.
3. NEW LAW OR ACT - In the present era, AI systems are performing human-like functionality in almost every sphere of life. Therefore, the nations must come up with a new act or law for AI works, which shall further provide adequate remedies for both civil and criminal offenses and remove the unnecessary liability of the creator.

BOTTOM LINE
The current IP Law related to Artificial Intelligence is problematic since the recognition of work generated by AI-enabled systems in under ambiguity. Therefore, some well-defined and precise legislative rules and regulations are necessary to deal with the issue. With the widespread implementation and usage of AI techniques in our day-to-day lives, there is a need to implement proper guidelines regarding the registration and protection of AI works as IP urgently in every nation.

Ref- https://www.kashishworld.com/blog/artificial-intelligence-and-copyrights/

Information Technology and its Impact on Auditing and Accounting

In today's fast-paced economy, information technology has had a significant impact on Auditing and Accounting by enabling business firms and organizations to develop and further use computerized systems for storing and recording their financial transactions. With the help of several crucial improvements and advancements, information technology is transforming the auditing and accounting industry both quickly and profoundly. The auditors can now seamlessly identify fraud and operational business risks, generate financial reports, and tailor their approach accordingly to deliver better results.

It is a matter of fact that yes; while technological advancements are being introduced at an unprecedented speed, several areas are helping the shift to audit and accounting automation while coming up with new ways of performing an audit. So, let's make ourselves familiar with how information technology is transforming the industry of auditing and accounting.

Artificial Intelligence (AI) -

Artificial Intelligence, robotics, and cognitive sciences offer great help in the automation of repetitive and complex processes and tasks. AI holds immense power in providing extreme accuracy, which further helps in increasing efficiency and reducing operational costs. Such emerging technologies play a significant role in supporting the transitional role of today's auditor from a process-centered practitioner to a critical strategic partner. In this case, it would be right to say that AI shall never replace auditors, but auditors using AI shall replace the ones that aren't using it.

Cloud -

Cloud-based computing like Microsoft Azure, Google Cloud, and Amazon Web Services (AWS) refer to a type of internet-based computing providing shared processing data and resources on-demand to computer devices. It enables the auditors to perform testing tasks and auditing from any location in the world and also provides them with an ability to deliver information, reports, and working papers via the cloud. Without any second thoughts, cloud-based computing has indeed opened up a new and efficient way for the auditors to work well with their clients. As a result, auditors can spend more time engaging with their clients and solve their business issues.

Audit Software -

Since its early stages, audit software has indeed come a long way now. Programs offer a high degree of accuracy by reducing the margins of error. Furthermore, new programs also help in streamlining the audits by making the entire process more effective and efficient. Nowadays, both auditors and business owners are embracing the new audit software technology for preventing issues with the stakeholders and avoiding costly mistakes.

Mobile Applications and Mobile Accounting -

With the proliferation of smartphones, almost everyone across the globe has access to unlimited information and business data. To bridge the gap between clients and firms, auditors are now taking advantage of mobile device connectivity. Moreover, new mobile applications are also offering help to professional service firms by performing internal functions, including sending invoices and receipts, submitting timesheets, and creating expense claims.

Social Media Platforms -

Many firms nowadays use various social media platforms like Twitter, LinkedIn, and Facebook regularly to engage with their already existing and potential clients while expanding their brand reach simultaneously. Therefore, along with traditional marketing strategies, professional service firms must realize the importance of integrating social media marketing into their long term digital marketing goals and business development plans.

BOTTOM LINE

The rapidly evolving relationship between information technology and auditing implies that auditors need to understand what impact does technology have on their business and how can it be utilized for improving Corporate Law Compliance and operational efficiencies, achieving regulatory management, guiding management decisions and Legal Opinion, supporting financial reporting and accounting, and ultimately increasing revenues.

REF- https://www.kashishworld.com/blog/information-technology-and-its-impact-on-auditing-and-accounting/