29 March 2024 NAVIGATING THE MAIN IMPACTS OF ARTIFICIAL INTELLIGENCE IN INTERNATIONAL ARBITRATION: INSIGHTS FROM THE ICC YAAF WORKSHOP
On 19 October 2023, the ICC Young Arbitration & ADR Forum (YAAF) hosted a workshop titled “Navigating the Frontiers of Artificial Intelligence in Arbitration” in Zurich.
The evolution of Artificial Intelligence (AI) from a mere buzzword to a technological force has been remarkably swift. A recent study by Goldman Sachs reveals that, on average, 25% of all work-related tasks could be automated through AI. In the legal domain, this figure rises to a striking 44%, signaling a paradigm shift.
Despite these signals, the integration of AI into the daily workflow of arbitration professionals remains relatively modest. A 2021 study by White & Case and Queen Mary University of London indicated that 49% of arbitration practitioners never or rarely employ AI tools such as data analytics or technology-assisted document review. According to another study, the numbers remained on a similar level in 2023.
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