A new collaboration between The Law Society and the Chartered Institute for Securities & Investment (CISI) will enhance solicitors’ understanding of ethical issues when using artificial intelligence (AI). The announcement is confirmed ahead of the HMG Mansion House, London AI Summit 29th January.
The collaboration will offer the CISI Certificate in Ethical AI to all 200,000 Law Society solicitor members in England and Wales from February 2025. The Law Society is a professional body incorporated by Royal Charter.
Educational charity and professional body the CISI offers qualifications and lifelong e-learning opportunities for those working or aspiring to work in global capital markets, financial planning and wealth management professions.
The CISI launched its Certificate in Ethical Artificial Intelligence in November 2023 as part of its campaign to champion ethics and transparency in the use of AI. The Certificate was introduced alongside the 695th City of London Lord Mayor Michael Mainelli ethical AI initiative with key input from the steering group for this project.
Tracy Vegro OBE CISI Chief Executive Officer said: “We are delighted to announce this collaboration with The Law Society and to help enhance the solicitor community’s learning and development in digital skills.
“For 200 years The Law Society has championed solicitors working in the public interest and protecting the justice system. Therefore, as AI becomes more advanced and widespread with concerns emerging around bias, transparency, accountability and safety, we are delighted for CISI to be part of this collaboration.”
UK government Minister for Artificial Intelligence Feryal Clark said: “Artificial Intelligence will drive incredible change in our country, with the potential to transform the lives of working people. That’s why earlier this month we announced a blueprint to use AI to turbocharge our Plan for Change—creating more jobs, driving investment, and putting more money in people’s pockets.
“Transparency in AI use is essential to building public trust and ensuring confidence in the innovations driving this transformation. This collaboration reflects that commitment, equipping legal professionals with the knowledge to navigate the ethical dimensions of AI as they embrace its potential to enhance productivity, efficiency, and technological expertise.”
Ian Jeffery, CEO of The Law Society said: “We are delighted to collaborate with the CISI on this important initiative. The ethical use of AI is becoming increasingly important, and access to this comprehensive course will enable members to use this emerging technology in an informed and compliant way.”
Since launch, the CISI’s collaborations with professional and industry bodies across accounting, actuarial and financial services have resulted in the Certificate being taken by around 6,000 people, including many global regulators, in over 60 countries.
Machine Learning/AI was listed as a priority future skill for the UK financial services sector by the Financial Services Skills Commission (FSSC) in a recent report, with the CISI noting that every one of the FSSC 13 future skills were being addressed by CISI’s digital CPD modules.
CISI recently hosted the launch of the Investor Consensus on Responsible AI. The consensus examined what investors expect from their investee companies in terms of responsible development and deployment of AI.