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Commercial Transactions in the Digital Era: Navigating the Legal Complexities of Algorithmic Decision-Making
Abstract
This chapter examines the legal and ethical challenges of integrating artificial intelligence (AI) and automated decision-making in commercial transactions. It explores how smart contracts, algorithmic liability, and personalized consumer services are transforming traditional concepts in civil and commercial law. Through a comparative law approach, the chapter analyzes the responses of different jurisdictions, including the European Union, the United States, and Asia, to these advancements. Key topics include redefining contractual obligations, introducing “algorithmic fault” in commercial liability, and advocating for dynamic consumer protections against discriminatory pricing. The chapter also proposes innovative mechanisms for dispute resolution, such as AI-assisted mediation and electronic courts, and introduces the concept of adaptive regulation to address rapid technological changes. By doing so, it seeks to promote a fair, transparent, and ethically aligned digital marketplace.
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