Contracts That Write Themselves: The Future of Legal Agreements
Self-driving contracts are contracts that can fill in their own gaps and interpret their own standards without needing a judge. This is possible because of big data and artificial intelligence. These contracts can specify actions for every situation, reducing the chance of problems later on. However, they can also be incomplete in ways that make current contract rules less important. In the future, there will be markets for companies that certify or provide contract programming. Law will need to oversee these markets to make sure everything is fair.