UIA event in Novi Sad, Serbia: Bridging the Gap between Law and Technology - Role of Lawyers in AI, Digitalization, and Data Protection
On September 19 and 20, 2024, I had the honour to participate in the professional seminar organized by the UIA in Novi Sad, Serbia, titled ''Bridging the Gap between Law and Technology – Role of Lawyers in AI, Digitalization, and Data Protection''. The event was partnered by the Vojvodina Bar Association, the Faculty of Law in Novi Sad, the Bar Association of Serbia, the Novi Sad Branch of the Vojvodina Bar, and the legal databases Paragraf Lex and ING-PRO.
The UIA (International Association of Lawyers) is a global and multi-cultural organization for the legal profession established in 1927 and with members in 110 countries, that facilitates professional development, stimulates learning and networking, and promotes the Rule of Law.
This seminar in Novi Sad, Serbia, was a valuable opportunity for about 70 legal professionals from around the world to enhance their expertise. It covered a wide range of topics, some of which were particularly interesting to me. These included technological innovation transforming finance and international trade, identification of criminal activity with public technology, potential legal implications of AI decision-making processes in the workplace, legal and ethical questions regarding the use of AI in biotechnology and food science, potential biases in AI algorithms, and many more.
The seminar took place at the BioSense Institute in Novi Sad, an exciting location because the building features a vibration - isolation core that floats on four air cushions, allowing for the conduction of the most sensitive scientific research in the field of micro and nano technologies. Additionally, the BioSense Institute building houses so-called clean rooms, laboratories equipped with state-of-the-art equipment for multidisciplinary scientific research, a data center, and a specially created space for startups.
- From left to right: Mr Piergiorgio BONACOSSA (RPLT RPlegalitax, Milan, Italy), Mrs Marina MATOUSEKOVA (Talma Avocats, Paris, France), Mr Ulrich BAUMAN (President of the UIA Labour Law Commission, Oikon, Munich, Germany), Mr Calin Viorel IUGA (IUGA & Asociatii, Cluj-Napoca, Romania), Dr. Darko BOŽIČIĆ (University of Novi Sad Faculty of Law, Assistant Professor, Labour Law Department, Novi Sad, Serbia) and Mr Giacomo DE FAZIO (Toffoletto De Luca Tamajo e Soci, Milan, Italy)
- THE USE OF AI AND OTHER NEW TECHNOLOGIES IN THE BANKING AND FINANCIAL SERVICES SECTOR
A few months ago, I was honoured to become a member of the UIA Banking and Financial Services Law Commission. After several months of online meetings, written communication and other online activities, the event in Serbia provided an excellent opportunity for me to meet some of the commission members in person. Some of the topics discussed included how the advances in digitalization and financial technology have significantly affected the landscape of the financial system, particularly in the provision of banking and financial services, as well as in the international trade sector.
Digital finance has evolved rapidly, with innovations impacting diverse areas of the financial system, from payment services to financial markets and international trade. For example, more and more banks are now using AI systems to detect potential fraudulent or illegal activity; some have even incorporated warnings for their users if they are communicating with a potential scammer. Artificial intelligence, social networks, machine learning, mobile applications, distributed ledger technology, cloud computing, and big data analytics have led to new services and business models from both established financial institutions and new market entrants.
One of the expert speakers was Mrs. Barbara Bandiera, the president of the UIA Banking and Financial Services Law Commission, who gave excellent insights about the transformative potential of new technologies in combating money laundering and terrorist financing. She emphasized that these technologies can significantly enhance the speed, quality, and efficiency of measures to address these issues. By allowing financial institutions and supervisors to assess risks more accurately and comprehensively, new tools can foster financial inclusion, integrating more individuals into the regulated financial system and thereby strengthening the effectiveness of AML/CFT measures.Mrs. Bandiera noted that new technologies for AML/CFT encompass innovative skills and processes that facilitate compliance with regulatory requirements, as well as creative applications of established technologies to enhance those efforts. She highlighted that financial inclusion is not just an economic concept; access to quality financial services empowers individuals and supports entrepreneurship, driving economic growth. In developing countries, expanding access to financial services is crucial for strengthening financial sectors and mobilizing domestic resources, ultimately contributing to social and economic development. Digital technologies have played a key role in this expansion, enabling financial institutions to reach rural markets without incurring the costs associated with physical presence.
- From left to right: Mr Silvestre Tandeau de Marsac (UIA Finance Director, Paris, France), Mrs Barbara Bandiera (President of the UIA Banking and Financial Services Law Commission, Milan,Italy) and Mr Kristijan Karan (UIA Banking and Financial Services Law Commission member, Novi Sad, Serbia).
In the end, Mrs Bandeira concluded that digital transformation is a necessity, ''not good to have, not nice to have, but an imperative if you are going to keep up''. She gave us a beautifully illustrated conclusion in the form of a quote from the famous French novelist Marcel Proust: ''The real voyage of discovery consists not in seeking new landscapes, but in having new eyes.''
From the very first day of the seminar until its conclusion, Mrs Jacqueline Scott, the president of the UIA, was tirelessly available to all members and potential new members for any questions they had. In her speech, she emphasized the importance of unity among lawyers, highlighting that despite coming from different countries, speaking various languages, and holding diverse political views and cultural values, we are all part of the same legal community. She pointed out that we share the same legal principles—confidentiality, due process, fair trials, and proper representation—and that our shared purpose is to zealously and independently represent our clients, with the ultimate goal of defending the Rule of Law.
This shared mission binds us together, even when our differences could potentially divide us. She also conveyed this message by discussing the example of cooperation among lawyers from Serbia and across all Balkan countries during the difficult and conflict-ridden 1990s. She highlighted how, in 2014, lawyers in Serbia managed to protect their professional interests and the interests of their clients—citizens of the Republic of Serbia—by standing together and remaining united. This collaboration during challenging times serves as a powerful reminder of the strength that comes from solidarity in the legal profession.
To summarize, the seminar was a phenomenal opportunity for lawyers from Serbia and around the world to network and exchange insights. I eagerly await the next UIA event, confident that our discussions will continue to shape the future of our profession. While integrating technology (especially AI) into the legal field promises many benefits like enhanced efficiency and cost savings, it also brings significant ethical concerns, regulatory challenges, issues of bias and fairness, a lack of transparency, and data privacy risks. Addressing these complexities is essential, as they will undoubtedly impact the quality and proficiency of the legal services we provide.
- Mr Kristijan Karan and Mrs Jacqueline Scott (the president of the UIA).
Author: Kristijan Karan, attorney at law
September 26, 2024
