There recently has been much fervor around the demonstrated powerful functionality of generative AI (GAI), including products like ChatGPT and GitHub Copilot. However, because GAI presents a multitude of risks, some companies are banning its use outright, thereby losing the benefits that these tools can provide. In this guest article, Baker McKenzie attorneys Cynthia Cole, Rachel Ehlers and Bryce Bailey discuss key issues that companies should explore as they consider incorporating GAI into their business, and protections and restrictions they can implement to mitigate risk. See Cybersecurity Law Report’s two-part series on managing legal issues arising from use of ChatGPT and GAI: “E.U. and U.S. Privacy Law Considerations” (Mar. 15, 2023), and “Industry Considerations and Practical Compliance Measures” (Mar. 22, 2023).