Artificial intelligence and its role in concluding commercial contracts .

Document Type : Original Article

Author

Lecturer - Faculty of Law - Ain Shams University Department of Commercial and Maritime Law

Abstract

In this study, we discussed the mechanism of smart contracts with unique characteristics that changed the course of the contractual process, and whether they constitute a contract in the first place, and what is the evidence for that, which showed that these contracts constitute one of the most important contemporary legal challenges, and this study bore the burden of answering several questions. Including how to conclude contracts through computer programs that rely entirely on artificial intelligence, and what is this smart contract? What is its legal nature? Its most important features and characteristics. We discussed the most important legal provisions and obstacles facing these contracts. We compared the electronic contract, the traditional contract, and the smart contract. We discussed how to resolve the problems and disputes that arise through these contracts. We discussed here arbitration as a mechanism for resolving these disputes. The importance of this research is evident from our knowledge that block chain technology is one of the modern smart transaction platforms, and has begun to gain great popularity in our contemporary world (the world of the technological revolution), as it is a secure means for electronic transactions and smart contracts without the need for the intervention of an intermediary or third party in the relationship between its parties. This is what made us urgently need to conduct this study.

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