Spark is pleased to announce the publication of the “Novel forms of contracting in the digital economy”, completed together with its partners for DG JUST.
Artificial intelligence (AI) is changing the way that we live, work, and relate to one another, kicking off the Fourth Industrial Revolution. Something that AI is being integrated into is the contract lifecycle. It is now possible for all stages of the contract lifecycle to be completed using AI.
Spark, in consortium with ICF, Timelex, and Wavestone, supported the European Commission (DG JUST) in examining the capacity of existing legal frameworks to facilitate AI-driven contracting while ensuring legal certainty. We identified the national rules applicable to AI contracting in private transactions, taking into account relevant EU law, and examined whether the legal framework leaves uncertainty and is ‘fit for purpose’ for AI contracting, and analysed the economic impact of the potential legal obstacles and whether they affect the smooth functioning of the EU single market.
The full Study is available here.