A Mayer Brown cross-practice team, comprising Gabriela Kennedy our IP & TMT practice and TL Lim and Jenny Yu of our insurance practice, hosted a roundtable on 13 March 2019, titled “Artificial Intelligence: Key Issues for the Insurance Industry - M&A: Investing in or Buying a Company Focused on AI”. Representatives of our firm’s clients in the insurance sector attended the seminar and participated in an interactive session exploring the legal issues that arise, and key considerations businesses need to bear in mind, in M&A and other corporate transactions involving AI targets or solutions.
The seminar opened with welcoming remarks from Gabriela, followed by an overview of AI by Mark Munoz, Managing Director of Vectr Fintech Partners, a venture capital firm that invests in early stage companies. He talked about what Vectr has been looking at in terms of AI, specifically for the insurance industry, and what venture capital firms such as Vectr look for when choosing to invest in an AI tech company. The audience was then split into two groups where they were presented with a hypothetical acquisition of an AI company, and considered the legal and business issues that may arise during the transaction.