Innovation is crucial, and we are committed to supporting responsible innovation.

In India, with the growing presence of startups, private limited companies, legacy organizations and listed entities, the adoption of technology has become widespread.

Over the last five years, emerging technologies such as the dynamic Web3, distributed ledger technology (blockchain and cryptocurrency), decentralised finance (DeFI) including digital assets and token as well as the metaverse and avatars have gained significant preference. The democratisation of AI by ChatGPT has further complicated legal and statutory complexities.

Indian companies now stand at a crossroad: they must navigate the complexities of compliance and legalities or risk falling into costly global lawsuits that could severely impact their finances and tarnish their reputations.

AI is now influencing almost every technology rollout and adaptation journey. Our focus is to have customised solutions for the companies taking into account the following factors:

• Geographical presence
• Industry category
• Payment interfaces with customers and vendors
• Nature of customers/user community and their activity on the platforms
• Ongoing litigations and claims status based on technology adaptation issues.
• Out-of-court restructurings and refinancing;

The governance must also address the risks related to open-source, data privacy, intellectual property, cloud services, SaaS platforms, digital competition frameworks, and export controls, amongst others. The widespread action of impulsive and hasty acceptance of cookies and lengthy website consents (click wraps) has led to numerous violations. Additionally, in-house development of generative AI and large language models (LLMs) require further scrutiny regarding consents, copyright rights and other related considerations.

Our comprehensive, customized advisory solutions will follow a strategic approach designed to ensure effective governance and compliance across emerging technologies. The key steps include:

• The Plan-Do-Act-Check (PDAC) Method
• Diagnosis of current AI and technology governance practices, including policies, third-party contracts, and more
• Discovery of technology governance across departments, engaging multiple stakeholders
• Mapping of regulatory obligations to ensure compliance
• Gap assessment of AI and technology governance, with a focus on data privacy
• Risk mitigation advisory to address potential threats
• Impact management on human rights and the environment, including inventorisation of new technology energy consumption in line with global GHG frameworks
• Ongoing customized framework for 52 weeks, ensuring continuous monitoring and adjustments
• Structured training programs on various legal aspects such as copyrights, privacy, competition, AML, and sanctions, tailored to different employee groups to facilitate effective tech adaptation
• Ongoing updates on landmark global judgments and regulatory changes in operating countries

Throughout the 52-week advisory program, we will provide continuous diagnosis of new technology adoption, along with thorough documentation. The future is emerging with DAOs (Decentralized Autonomous Organizations)—our aim is to maximize profits through smart governance of technology.

In the case of cross-border litigation related to new-age technology, our global network of associate firms will provide the necessary support.