You can see the rules and regulations in other jurisdictions.
AI and data are intertwined, and the financial services sector produces vast amounts of information. This data is protected with intellectual property rules, such as confidentiality, copyright laws, and potentially the sui generis database right. As an example, look-up tables (databases accessed by software programs) could be covered by copyright in the structure of the database as well as by the sui generis database right defensively shielding the extraction/reusage of that same data - as long as the rights holder can demonstrate that substantial resources were used to obtain said data.1
The database right grants a strong level of protection, believed to last 15 years. Every time significant effort and money have been spent in collecting, confirming or displaying the contents of the database, it is likely considered as a new one and thereby continuous rights are achieved. Some discussion has taken place regarding if collections of data - such as sensor or machine-generated information - are capable of meeting the requirements set by the 'substantial investment in getting' element of the database right. The conversation continues with regards to where potential limitations on effort lie.1
No matter how confidential or fully protected a database is, both offer automatic securement. As big data is becoming a central business part of our lives, the possibility that some market members will have control over vast collections of data poses a risk of monopolism. This has raised the awareness and sparked increased supervision by regulators such as UK's Competition and Markets Authority (CMA) with their April 2021 Digital Markets Unit (DMU) dedicated to stamping out unfair competition regarding big data. It is expected that lawmakers will draft laws to provide the DMU with definitive powers to ensure competition within the markets.2
“The rise of powerful AI will be either the best or the worst thing ever to happen to humanity. We do not yet know which.”Stephen Hawking
English theoretical physicist, cosmologist, and author
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