Douzone Bizon said on the 24th that it has signed a mutual cooperation agreement with law firm Shin & Kim covering artificial intelligence governance and regulatory compliance.
Under the agreement, the two firms will build a joint framework to meet demand for legal advice that companies need as they pursue AI transformation, including AI governance and compliance, security system development and legal risk management. They also plan to work together on jointly proposing and carrying out related projects.
The two firms noted that as corporate adoption of AI spreads, responding to AI-related regulation and managing risk are becoming more important. Demand for building AI governance systems is in fact rising, led by the financial sector. Beyond legal advice and revising internal rules, companies are moving to implement risk assessment, control and follow-up management systems within their own internal platforms.
The two firms plan to combine their respective expertise to meet that demand. Shin & Kim will handle analysis of AI-related laws and regulations, the establishment of compliance and security frameworks, and legal advice on risk assessment and control systems. Douzone Bizon will build AI governance and security systems and dashboards based on analysis of clients' operations and systems. Those functions will be linked to business platforms such as enterprise resource planning (ERP) systems.
Douzone Bizon and Shin & Kim plan to expand the scope of their cooperation beyond finance to regulated industries including healthcare. Through joint projects, they aim to develop a standard business model and delivery framework for AI governance.
"To use AI safely and responsibly, an understanding of laws and institutions must go hand in hand with the technology to implement that understanding in actual systems," said Ji Yong-koo, co-chief executive of Douzone Bizon.