Contracting and contract law in the age of artificial intelligence | 11TH & 12TH FEBRUARY 2021, 3PM-7PM CET
Artificial Intelligence (AI ) has become an important part of our daily lives, transforming not only our society and economy, but also everyday transactions.
AI techniques, such as natural language processing and machine learning, are used by many companies dur ing the whole “lifecycle” of a contract to make contracting more efficient.
At the pre-contractual stage, AI -driven profiling techniques provide better insights into customers’ and business partners’ behavior, preferences and vulnerabilities. Moreover, AI cont ract ing tools and AI chatbots are used to govern the contracting process, especially for negotiating and drafting contracts.
At the per formance phase, AI systems facilitate and automatize the execut ion of t ransactions, assist ing and simpli fying real - time payments, and managing supply chain r isks. They also play a crucial role in contract management and due diligence.
Companies can review and manage cont racts faster and more accurately by identifying terms and clauses that a suboptimal , and by flagging individual cont racts based on firm-specified criteria.
Finally, yet importantly, at the post-contractual phase, AI systems can help to litigate legal disputes by handl ing customer complaints, resolving online disputes or by predicting the outcome of court proceedings.
Our workshop brings together academics, legal practitioners and computer scientists working in the f ield of AI-cont racting and contract law.
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