THE EXTENT TO WHICH ARTIFICIAL INTELLIGENCE CAN BE USED TO IMPROVE THE RESOLUTION OF COMMERCIAL DISPUTES

Abstract

With the advancement of AI, jurists have started realizing the usefulness of such software in law and especially in commerce. This dissertation will focus on how AI can be used to improve the resolution of commercial disputes. AI can provide a quicker and cheaper resolution of disputes using several tools. Artificial intelligence can provide tools that help the parties create their legal documents especially when there is a cross-border dispute and there are differences in the legal terms. Another use of the software is for research, as AI can help lawyers and individuals conduct faster and more effective research on the topic. Furthermore, AI can even make predictions on the outcome of cases, which lets a party to a dispute make much more educated decisions – to seek settlement outside of court, to pursue a claim, etc. However, the most promising advancement could be allowing AI to be the judge or the lawyer and replace humans, making the process quicker and more effective. While this sounds like a great prospect, AI is not without its downside. Artificial intelligence tends to develop bias and make impartial decisions. This could be due to a lack of training data, biased human input, or many other factors. The bottom line is that such bias is tough to catch due to the complex nature of AI. Despite this, the dissertation argues that this cheaper and quicker process is necessary as it permits more parties to seek justice, not only those with the means to afford it. Not only that, but it stops bigger corporations from bullying smaller businesses with frivolous lawsuits. While this seems idealistic, the work also discusses a way to achieve this internationally through arbitration in its last chapter