Despite the multitude of concerns that surround AI and its impact in the future, there are many benefits the technology can have on the fintech industry. Here are some of the key advantages in our opinion:▪️ Process Automation: AI can automate repetitive and rule-based tasks, such as data entry, transaction processing, and document verification, leading to…
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The fintech market in 2023 is undergoing transformative changes driven by various dynamics, as highlighted in this insightful article by Mayon. Key factors influencing the fintech market include below. Regulatory Environment: The regulatory landscape plays a vital role in shaping the fintech market. Regulatory bodies are actively establishing frameworks to promote innovation while ensuring consumer…
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The non-fungible token (NFT) market has fallen significantly in recent months, with trading volumes down by over 90% since their peak in January 2022. This has led to numerous concerns about the long-term viability of the NFT market and the legal implications of owning and trading NFTs. There are a number of reasons for the…
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The Directive on Administrative Cooperation (DAC) serves as the primary legal framework governing the exchange of information among EU tax authorities. Enforced since 2014, DAC plays a crucial role in fostering tax cooperation among EU Member States by combatting tax evasion, money laundering, and other financial crimes. The recent proposal of DAC8 by the European…
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On September 1, 2023, The Data Protection Commission of Ireland reached a final decision following its investigation into TikTok Technology Limited. The investigation’s objective was to assess TikTok’s compliance with GDPR requirements regarding the processing of personal data from child users, specifically focusing on public default settings and age verification at sign-up, covering the period…
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As technology advances, Artificial Intelligence (AI) systems like Chatbot GPT (Generative Pre-trained Transformer) have become increasingly prevalent in various fields, including the legal industry. Chatbot GPT is designed to understand natural language and provide contextually relevant responses. While these chatbots have shown remarkable capabilities in various domains, their integration into legal sector raises significant concerns.…
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