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If a fortune cookie company was printing inciteful and defamatory fortunes, then yes, they would be responsible for those.
If they said "these fortunes are real and will come true" they would be liable for fraud.
Microsoft's argument that they are not liable must include the idea that their Copilot AI is not expected to deliver true statements in its summaries. That's clearly not what the purpose of the summary is.
I mean, if Copilot can't be expected to provide truthful information, then why are they passing it off as a helpful AI assistant? What's the point of using it if it's just going to spew lies and slander? As some kind of satire generator? If so, why don't they market it as such?