Law by Algorithm

Book excerpt: Digitization, blockchain technology and Artificial Intelligence (AI) are fundamentally changing the fabric of societies, influencing lawmaking, legal scholarship and legal practice. The authors of this volume investigate the real-world developments that can be observed in this process, how established legal doctrines are being challenged, the regulatory issues societies face as a result, and how AI can be used in lawmaking and adjudication. By analyzing these four interrelated areas, the authors discuss conceptual issues of regulating AI, examine the impact of new technologies on commercial transactions and corporate governance, investigate civil liability rules for AI applications and explore key features and problems of digital dispute resolution. A recurring theme is that although Law by Algorithm might massively increase overall societal welfare, it runs the significant risk of benefitting only a few. To make it work for the good of all is a mammoth task - and one this volume hopes to contribute to.