Cartel activity will be classified as a criminal offence in New Zealand starting next month
DLA Piper has launched a new AI-powered tool designed to help corporations detect cartel risks.
Called Aiscension, the tool incorporates the firm’s legal knowledge with AI tech from e-Discovery software provider Reveal to bolster risk detection.
“The tool we have is unique. It will help companies manage competition law risks in a way they haven't been able to before. Aiscension combines best-in-class AI tech with our legal expertise to create faster, more effective and more accurate outcomes,” partner Alicia Murray said.
Aiscension can analyse a high volume of cartel activity-relevant data, including price fixing, market sharing, bid rigging, information exchange and collective boycotts. With cartel activity being classified as a criminal offence in New Zealand effective 8 April, the tool’s release comes at the right time.
“Cartel activity is a key – and growing – risk area for businesses across all sectors,” DLA Piper said. “Despite many companies having compliance systems in place, there is a constant risk that any business – or its subsidiaries – can become involved in cartel activity. Aiscension enhances compliance initiatives through its ability to detect and prevent cartels.”
According to the firm, the tool will be part of its “Law&” enhanced legal offering.
“The efficiency and reduction in cost that Aiscension brings to the market opens up a whole new way for companies to view and mitigate cartel risk,” said Ilan Sherr, DLA Piper’s legal director and Aiscension’s executive director.
DLA Piper global co-CEO Simon Levine said that Aiscension was “yet another example of the market-changing products we are developing.”
“We continue to build on the momentum of introducing bold and innovative products and services. They allow our clients not only to directly address challenges, but also to seize opportunities,” Levine said.
