Contracting and contract law in the age of artificial intelligence
The contributors to Contracting and Contract Law in the Age of Artificial Intelligence , make clear that AI is rapidly reshaping contract law. In particular, the chapter "From Document to Data: Revolution of Contract Through Legal Technologies" argues that the legal market is experiencing a profound shift towards what Silvia Martinelli and Carlo Rossi Chauvenet describes as "servitization and productification" of legal activities (p. 81). This refers to the transformation of legal services into standardized, technology-driven products. It’s a shift away from personalized legal advice towards packaged solutions, often delivered through software subscriptions or apps (p. 85). Thought of as data-driven assets, contracts can (and should) be actively managed and analyzed. Contracts are no longer static documents but dynamic data points. By collecting and analyzing data from contracts and other legal processes, legal tech solutions can be used to provide valuable insight...