Revolutionizing Arbitration: An In-Depth Analysis Of The Risks And Opportunities Arising From The Intersection Of Artificial Intelligence

Abstract

This abstract of this study presents a comprehensive examination of the revolutionizing effect of artificial intelligence on arbitration globally, highlighting its potential to revolutionize efficiency, transparency, and procedural flexibility. Despite AI's promising capabilities, the study reveals significant challenges in its integration, particularly the limited adoption among arbitration practitioners. Through a qualitative methodology that includes a literature review, empirical case studies, and expert interviews, the research explores the evolution of arbitration and the advancements in AI technologies. The findings demonstrate how AI can streamline document review, enhance predictive analytics, and optimize case management, while also raising critical ethical concerns such as algorithmic bias and the essential role of human judgment. The article concludes by advocating for the development of robust regulatory frameworks to address these ethical challenges and calls for continued discourse among legal scholars, practitioners, and policymakers. This inquiry contributes to the broader conversation on the future of arbitration, focusing on the necessity for an equitable approach to progress that upholds the principles of accountability, transparency, and fairness.

Keywords:  Artificial Intelligence, International Arbitration, Dispute Resolution, Legal Innovation, Regulatory Frameworks, Ethical Implications, Efficiency in Arbitration, Automation, Arbitration Practices, Bias in AI, Human Judgment, Technology in Law, Human Oversight, Predictive Decision-Making