Lexpert Magazine

September 2017

Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.

Issue link: https://digital.carswellmedia.com/i/864045

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Page 49 of 71

50 LEXPERT MAGAZINE | SEPTEMBER 2017 FEATURE GARRY KASPAROV WROTE, "Playing chess, I learned the dramatic effect com- bining humans and machines. Humans have intuition, can recognise patterns and po- sitions, and machines have brute-force of calculation and memory. By bringing these capabilities together in other walks of life, we can achieve incredible results." One of these results is Artificial Intelligence (AI) in M&A due diligence. Kasparov has credibility, or perhaps notoriety, in this regard. In his "Waking Up" podcast, philosopher and neuroscientist Sam Harris reminded Kasparov, "You will go down in history as the first person to be beaten by a machine in an intellectual pursuit where you were the most advanced member of our species." 1 Kasparov points out that he actually beat IBM's Deep Blue in 1996, though he lost to it a year later. Kasparov wanted a so-called "rubber match" to decide the matter forever, which did not happen. Just like in M&A: once the deal is completed, a rematch is nearly impossible. Although not quite synonymous, the terms AI and cognitive computing are used interchangeably herein if other authors did so. By either term, we are considering the following: "Modeled aer human learning, smart machines process massive data, iden- tifying patterns. ese patterns are used to 'create' entirely new patterns, allowing ma- chines to test hypotheses and find solutions unknown to the original programmers." 2 Voluminous due diligence was not al- The promise of Artificial Intelligence in M&A — performing extensive and reliable due diligence searches rapidly — will change corporate law in ways we can't yet predict BY JEAN CUMMING 3.0 Due PHOTO: SHUTTERSTOCK DISCLAIMER This is an excerpt from a paper written for the Osgoode Professional LLM Corporate Transactions course. Diligence

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