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Intellectual property dangers loom for major retailers in 2024 as generative AI advances

Next year will see an increasing number of major retailers in the UK getting caught out by the intellectual property (IP) pitfalls that exist from generative… View Article

RETAIL BUSINESS STRATEGY

Intellectual property dangers loom for major retailers in 2024 as generative AI advances

Next year will see an increasing number of major retailers in the UK getting caught out by the intellectual property (IP) pitfalls that exist from generative artificial intelligence (AI), predicts a leading business lawyer.

Marcus Collins, IP partner at Irwin Mitchell in London, says generative AI is a game changer for the sector and predicts that similar to the more established predictive AI, the technology’s usage will grow exponentially in 2024.

Generative AI is gaining momentum as a powerful technology that can revolutionise the retail industry. By autonomously creating new content, such as advertising copy, visuals, music, and website content, generative AI offers retailers the potential for increased efficiency, cost-effectiveness, and fresh creative perspectives.

However, alongside the opportunities, Marcus Collins, says retailers must be aware of the legal implications and intellectual property risks that come with using generative AI. The extraction and reassembly of information from existing works raise concerns about copyright, design right, and trade mark infringements. Retailers must navigate the complex legal landscape to avoid potential disputes and protect their business interests.

Marcus Collins said: “Retailers can leverage this technology to streamline their operations, enhance customer experiences, and gain a competitive edge. However, as generative AI becomes more widely used, there is an increasing risk that more and more retailers will get caught out in 2024.

“To harness the potential of generative AI while safeguarding their interests, retailers must adopt proactive measures. It is crucial to ensure that the datasets used by generative AI platforms are free from copyright materials or obtained with the necessary licenses and permissions. Retail businesses should also establish robust systems for reviewing and evaluating AI-generated content to verify its accuracy and legality.

“Generative AI offers exciting opportunities for retailers, enabling them to enhance their operations and engage customers in innovative ways. However, it is essential for retailers to be mindful of the intellectual property challenges involved. By taking proactive steps to navigate the legal complexities, retailers can effectively utilise generative AI while safeguarding their business interests.”

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