1. Potential copyright issues with generative AI systems
   
   
2. What is the law on execution of deeds under Singapore law and how could the law be changed to allow for electronic deeds?
   
   
3. CNPLaw Business Guide series: The solo business owner
   
   
4. CNPLaw Technology series: The rise of AI, big data and machine learning
   
   
5. New statutory framework for Singapore companies to conduct virtual meetings
   
   
6. MAS revisions to Guidelines on Licensing, Registration and Conduct of Business for Fund Management Companies
   
   

In this CNPupdate video, Tan Wee Liang, a Practice Trainee at CNPLaw, discusses potential copyright issues with generative artificial intelligence ("AI") systems. In particular, the video explains: (1) how the machine learning process and the generated output can potentially infringe copyright in the input information, (2) whether the computational data analysis exception and fair use defence are feasible defences to the aforementioned two instances of potential copyright infringement, and (3) whether copyright can subsist in autonomous AI-generated works. With the current hype surrounding AI systems and their evolving capabilities, this CNPupdate video provides a timely update on some legal considerations when working with such systems.

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Many Singapore lawyers are conscious of the increasing demands of clients to allow the electronic execution of documents and the difficulties they face in advising on the execution of deeds under Singapore law. This note seeks to put the issues in the particular context of cross-border transactions, since it is in this context that the default reflex of Singapore lawyers that a deed needs to be executed in wet ink and physically delivered (and sealed, except in the case of a Singapore company) comes up against the harsh fact that this approach is fast becoming outmoded in a world that increasingly has done away with these formalities. To take England as an example, any requirements of form or seal in relation to a deed were removed as far back as 1989. The Law Society of England & Wales and the City of London Law Society published guidance on electronic execution of documents, including deeds, on 2 October 2022. Recently Australian banks have got comfortable with the electronic execution of financing documents, including security documents executed as deeds, and lenders in the US execute security documents as indentures using electronic signatures. It is, therefore, useful to understand as a Singapore lawyer a little about the extent of the constraints imposed by Singapore law as it stands and also the extent of the limited changes in the law that will be required to bring Singapore more into line with the digital world that increasingly is the norm outside its borders.

The solo business owner ("SBO") is a solopreneur, a freelancer, a side hustler - an individual who wishes to start a business on his or her own. This has become a growing trend post the COVID-19 pandemic where gig culture is no longer seen as a last resort to gain work but rather a preferred choice for many who wish to have multiple sources of income, fuelled by the flexibility of remote working in this new digital landscape.

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In recent years, the world has witnessed a remarkable surge in the development and deployment of artificial intelligence ("AI") technologies, big data, and machine learning across various industries. AI leverages on computers and machines to mimic the problem-solving and decision-making capabilities of the human mind. In the healthcare sector, big data has assisted scientists in developing precision medicine in public health and aided in the development of technology enabling genome editing. In the retail sector, consumers source for the cheapest flight tickets through flight scanner applications using big data. Retailers have successfully used big data to personalise advertisements targeting specific groups of consumers who exhibit certain identified behavioural patterns through their online activity. In the finance sector, insurance companies utilize big data on driving history to assess insurance premiums with greater accuracy. Employers leverage on big data to determine the most suitable candidates to hire or fire. Ultimately, proper use of big data will allow for more accurate decision-making, leading to greater opportunities for innovation and efficiency

The COVID-19 pandemic reshaped the way businesses were conducted in Singapore. Various Safe Management measures were implemented by the authorities to prevent the spread of COVID-19 infections and some of these measures discouraged or prevented the attendance of in-person meetings held by companies. To enable companies in Singapore ("Companies") to have the option to hold virtual meetings, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders (the "Order") were introduced in April 2020 as part of the COVID-19 (Temporary Measures) Act 2020. We have since successfully transitioned towards living with COVID-19 and many of the Safe Management measures have been lifted such that physical meetings are no longer discouraged or prevented. Nonetheless, the COVID-19 pandemic has paved the way for Companies to embrace technology and make technological advancements in the way corporate proceedings are carried out. The benefits of being able to conduct meetings virtually are recognized and notwithstanding the cessation of the Order, Companies are able to continue to choose to conduct meetings virtually following the passing of the Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Act (the "Amendment Act").

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This note summarises the Monetary Authority of Singapore’s ("MAS") revisions in December 2021 as well as March and November 2022 to its Guidelines on Licensing, Registration and Conduct of Business for Fund Management Companies (the "Guidelines") which apply to Fund Management Companies ("FMCs"). For context, the Guidelines are issued pursuant to section 321 of the Securities and Futures Act 2001 ("SFA") and explain the minimum licensing criteria and business conduct requirements made under various SFA regulations. The revisions made by MAS primarily concern criteria for the licensing and registration of Licensed FMCs ("LFMCs") and Registered FMCs ("RFMCs").

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