Matt Savare is quoted in a multipart series by the Hedge Fund Law Report on artificial intelligence in the hedge fund industry. In Part 1, which focuses on ways fund managers and financial services companies can use artificial intelligence to streamline operations, Savare notes that most, if not all, hedge funds and financial service companies are using AI or third-party software embedded with AI to inform their trading decisions, assist with customer service, extend credit, detect fraud, among many other things. In Part 2, he responds to President Trump’s Executive Order on AI:  “AI is critical not only to the economy and society, but also to national security. … Therefore, it is not surprising that the federal government is taking it so seriously.” Savare further addresses the need for conducting due diligence with respect to data security when an “AI company offers its solution as a software-as-a-service, [as] it may have access to a manager’s systems, nonpublic financial information.” Given the risk of bias in AI, Savare states that “software makers who are coding their systems, or the employers who are utilizing the AI and feeding more data into it, must be mindful that the AI’s decisions be fair and equitable.” In Part 3, Savare addresses how AI can be used to conduct routine legal work for the benefit of clients and attorney alike. He uses the example of a large quantitative hedge fund with hundreds of different data‑licensing contracts in differing forms: instead of using “an army of contract attorneys…it would be better to engage a  AI service provider that could use optical character recognition, or OCR, to convert non-digital data into machine-encoded text … The AI platform could then conduct a large portion of the diligence for them, including summarizing contract provisions, finding material information and identifying anomalies.” He also suggests AI can be used when a hedge fund or private equity is researching whether to buy or invest in a company. Generally, AI allows lawyers to focus more on “high-value strategic services,” and allows an organization to “service more clients; be more organized and consistent; use fewer people; and develop deeper connections among employees.” However, “human involvement is still needed, “says Savare.  “People will always be more important – the machines are there to help them and their businesses grow.” (subscription required to access article)