J - Digital Arbitration: Can ADGM be an Experimental Jurisdiction?
At the end of the third decade of the 21st century, arbitration is progressively but inevitably shifting to a disruptive paradigm modeled by artificial intelligence*[1].
Introduction
A 2015 survey conducted by White & Case with Queen Mary University, University of London and the School of International Arbitration, mentioned that 46 percent of respondents felt that practitioners should, 'Make better use of technology to save time and costs'. Five years on this percentage would probably be larger*[2].
When Artificial Intelligence is applied to the legal field what is astonishing is that it performs better than humans. For example, the Case Cruncher Alpha predicted the outcomes of financial cases 20% better than 100 lawyers. When 775 predictions were submitted to this program, 'the computer won hands down, and Case Cruncher had an accuracy rate of 86.6%, compared to a 66.3% rate for the lawyers'*[3].
In another example, Kira Systems did due diligence in Merger and Acquisition contracts 20 to 60% faster than human lawyers*[4].
Conflicting Visions
In another example, Kira Systems did due diligence in Merger and Acquisition contracts 20 to 60% faster than human lawyers*[5].