3 International Arbitration Trends In 2024

3 International Arbitration Trends In 2024

As the legal landscape continues to evolve, 2024 is poised to be a transformative year for international arbitration practitioners delving into the realm of artificial intelligence (AI). While the buzz around AI, exemplified by the phenomenon of ChatGPT in 2022, has subdued, experts anticipate a resurgence of interest in the coming year.

Wiley Rein LLP partner, Joshua B. Simmons, predicts a shift from mere curiosity to substantial implementation of AI among international arbitration lawyers. Notably, the White House’s October executive order emphasizing the “safe, secure, and trustworthy development and use” of AI sets the stage for similar initiatives within the arbitration community. Simmons underscores the need for clarity on the appropriate use of AI, drawing parallels to the executive order’s focus on identifying AI-generated content.

While AI promises efficiency, Simmons asserts that the core essence of international arbitration, relying on sound judgment and high-quality advocacy, remains irreplaceable. As AI becomes more practically integrated, the field will witness a nuanced balance between technological advancement and the enduring qualities that define arbitration.

3 International Arbitration Trends In 2024: Emerging Industries

The year 2023 witnessed the ascendancy of artificial intelligence and the green energy transition, foreshadowing their impact on dispute resolution in 2024. In particular, the construction, infrastructure, and energy sectors are poised to witness a surge in novel disputes, marking a departure from conventional arbitration challenges.