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4 - Self-Driving Contracts and AI

Present and Near Future

from Part I - Law of Obligations

Published online by Cambridge University Press:  21 March 2024

By
Anthony J. Casey  and
Anthony Niblett
Edited by
Ernest Lim  and
Phillip Morgan
Ernest Lim
Affiliation:
National University of Singapore
Phillip Morgan
Affiliation:
University of York
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Summary

Legal technologies using AI-augmented algorithms to translate the purpose of a law into a specific legal directive can be used to produce self-driving contracts, that is, a contract which instead of relying on a human referee to fill gaps, update, or reform the provisions of the contract, uses data-driven predictive algorithms to do so instead. Self-driving contracts are not simply science fiction; not only are self-driving contracts possible, they are in fact already with us.

Keywords

Contractscontract lawself-driving contractslegal technologieslegal directives
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Information
The Cambridge Handbook of Private Law and Artificial Intelligence , pp. 93 - 112
Publisher: Cambridge University Press
Print publication year: 2024

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