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This book provides original, diverse, and timely insights into the nature, scope, and implications of Artificial Intelligence (AI), especially machine learning and natural language processing, in relation to contracting practices and contract law. The chapters feature unique, critical, and in-depth analysis of a range of topical issues, including how the use of AI in contracting affects key principles of contract law (from formation to remedies), the implications for autonomy, consent, and information asymmetries in contracting, and how AI is shaping contracting practices and the laws relating to specific types of contracts and sectors. The contributors represent an interdisciplinary team of lawyers, computer scientists, economists, political scientists, and linguists from academia, legal practice, policy, and the technology sector. The chapters not only engage with salient theories from different disciplines, but also examine current and potential real-world applications and implications of AI in contracting and explore feasible legal, policy, and technological responses to address the challenges presented by AI in this field. The book covers major common and civil law jurisdictions, including the EU, Italy, Germany, UK, US, and China. It should be read by anyone interested in the complex and fast-evolving relationship between AI, contract law, and related areas of law such as business, commercial, consumer, competition, and data protection laws.
The product of a unique collaboration between academic scholars, legal practitioners, and technology experts, this Handbook is the first of its kind to analyze the ongoing evolution of smart contracts, based upon blockchain technology, from the perspective of existing legal frameworks - namely, contract law. The book's coverage ranges across many areas of smart contracts and electronic or digital platforms to illuminate the impact of new, and often disruptive, technologies on the law. With a mix of scholarly commentary and practical application, chapter authors provide expert insights on the core issues involving the use of smart contracts, concluding that smart contracts cannot supplant contract law and the courts, but leaving open the question of whether there is a need for specialized regulations to prevent abuse. This book should be read by anyone interested in the disruptive effect of new technologies on the law generally, and contract law in particular.
In recent years there has been a revival of interest in the philosophical study of contract law. In 1981 Charles Fried claimed that contract law is based on the philosophy of promise and this has generated what is today known as 'the contract and promise debate'. Cutting to the heart of contemporary discussions, this volume brings together leading philosophers, legal theorists, and contract lawyers to debate the philosophical foundations of this area of law. Divided into two parts, the first explores general themes in the contract theory literature, including the philosophy of promising, the nature of contractual obligation, economic accounts of contract law, and the relationship between contract law and moral values such as personal autonomy and distributive justice. The second part uses these philosophical ideas to make progress in doctrinal debates, relating for example to contract interpretation, unfair terms, good faith, vitiating factors, and remedies. Together, the essays provide a picture of the current state of research in this revitalized area of law, and pave the way for future study and debate.
This book provides a set of proposals for the new conceptual network required in order to establish civil law rules for a world permeated by Artificial Intelligence. These proposals are intended by their authors to push the debate on the new civil law forward. In spite of the natural conservatism of jurists, some innovative or even futuristic ideas are called for, also because the future, even this not-so-distant one, is difficult to foresee. Paradoxically, and unlike in the past, this lack of knowledge must not stop us from planning. If it does, humankind may, as some pessimists already claim, lose its chance to win the battle for control of the world. The rise and expansion of Artificial Intelligence and robotics in recent years has highlighted a pressing need to create a suitable legal framework for this new phenomenon. The debate on the subject, although wide-ranging and involving many new legal documents, is still quite general and preliminary in nature, although these preparatory works illustrate the very real need to develop appropriate new civil law arrangements. It is exactly the branch of private law where the necessity of these new rules appears to be the most imperative. Autonomous vehicles, medical robots, and expertise software raise fundamental questions on aspects of civil liability such as culpability; whereas the growth in popularity of automated, intelligent software systems for concluding contracts requires a new approach to many fundamental and deeply rooted elements of contract law, e.g. consciousness, intent, error, deception, interpretation of contracts and good faith. Ruling on these specific matters demands the identification and clarification of certain key points, which shall become the foundation for constructing AI/robot civil law.
Artificial intelligence (AI) technologies are transforming economies, societies, and geopolitics. Enabled by the exponential increase of data that is collected, transmitted, and processed transnationally, these changes have important implications for international economic law (IEL). This volume examines the dynamic interplay between AI and IEL by addressing an array of critical new questions, including: How to conceptualize, categorize, and analyze AI for purposes of IEL? How is AI affecting established concepts and rubrics of IEL? Is there a need to reconfigure IEL, and if so, how? Contributors also respond to other cross-cutting issues, including digital inequality, data protection, algorithms and ethics, the regulation of AI-use cases (autonomous vehicles), and systemic shifts in e-commerce (digital trade) and industrial production (fourth industrial revolution). This title is also available as Open Access on Cambridge Core.
This note explores the interactions between new technologies with key areas of commercial law and potential legal changes to respond to new developments in technology and businesses. Inspired by the Bali Fintech Agenda, this note argues that country authorities need to closely examine the adequacy of their legal frameworks to accommodate the use of new technologies and implement necessary legal reform so as to reap the benefits of fintech while mitigating risks. Given the cross-border nature of new technologies, international cooperation among all relevant stakeholders is critical. The note is structured as follows: Section II describes the relations between technology, business, and law, Section III discusses the nature and functions of commercial law; Section IV provides a brief overview of developments in fintech; Section V examines the interaction between technology and commercial law; and Section VI concludes with a preliminary agenda for legal reform to accommodate the use of new technologies.
Digital Technologies and the Law of Obligations critically examines the emergence of new digital technologies and the challenges they pose to the traditional law of obligations, and discusses the extent to which existing contract and tort law rules and doctrines are equipped to meet these new challenges. This book covers various contract and tort law issues raised by emerging technologies – including distributed ledger technology, blockchain-based smart contracts, and artificial intelligence – as well as by the evolution of the internet into a participative web fuelled by user-generated content, and by the rise of the modern-day collaborative economy facilitated by digital technologies. Chapters address these topics from the perspective of both the common law and the civil law tradition. While mostly focused on the current state of affairs and recent debates and initiatives within the European Union regulatory framework, contributors also discuss the central themes from the perspective of the national law of obligations, examining the adaptability of existing legal doctrines to contemporary challenges, addressing the occasional legislative attempts to deal with the private law aspects of these challenges, and pointing to issues where legislative interventions would be most welcomed. Case studies are drawn from the United States, Singapore, and other parts of the common law world. Digital Technologies and the Law of Obligations will be of interest to legal scholars and researchers in the fields of contract law, tort law, and digital law, as well as to legal practitioners and members of law reform bodies.
Algorithms are a fundamental building block of artificial intelligence - and, increasingly, society - but our legal institutions have largely failed to recognize or respond to this reality. The Cambridge Handbook of the Law of Algorithms, which features contributions from US, EU, and Asian legal scholars, discusses the specific challenges algorithms pose not only to current law, but also - as algorithms replace people as decision makers - to the foundations of society itself. The work includes wide coverage of the law as it relates to algorithms, with chapters analyzing how human biases have crept into algorithmic decision-making about who receives housing or credit, the length of sentences for defendants convicted of crimes, and many other decisions that impact constitutionally protected groups. Other issues covered in the work include the impact of algorithms on the law of free speech, intellectual property, and commercial and human rights law.
The technology and application of artificial intelligence (AI) throughout society continues to grow at unprecedented rates, which raises numerous legal questions that to date have been largely unexamined. Although AI now plays a role in almost all areas of society, the need for a better understanding of its impact, from legal and ethical perspectives, is pressing, and regulatory proposals are urgently needed. This book responds to these needs, identifying the issues raised by AI and providing practical recommendations for regulatory, technical, and theoretical frameworks aimed at making AI compatible with existing legal rules, principles, and democratic values. An international roster of authors including professors of specialized areas of law, technologists, and practitioners bring their expertise to the interdisciplinary nature of AI.
The convergence of Artificial Intelligence (AI) in blockchain creates one of the world’s most reliable technology-enabled decision-making systems that is virtually tamper-proof and provides solid insights and decisions. The integration of AI and Blockchain affects many aspects from food supply chain logistics and healthcare record sharing to media royalties and financial security. It is imperative that regulatory standards are emphasized in order to support positive outcomes from the integration of AI in blockchain technology. Regulatory Aspects of Artificial Intelligence on Blockchain provides relevant legal and security frameworks and the latest empirical research findings in blockchain and AI. Through the latest research and standards, the book identifies and offers solutions for overcoming legal consequences that pertain to the application of AI into the blockchain system, especially concerning the usage of smart contracts. The chapters, while investigating the legal and security issues associated with these applications, also include topics such as smart contacts, network vulnerability, cryptocurrency, machine learning, and more. This book is essential for technologists, security analysts, legal specialists, privacy and data security practitioners, IT consultants, standardization professionals, researchers, academicians, and students interested in blockchain and AI from a legal and security viewpoint.