Complex business projects are becoming increasingly common in the modern interconnected world. Global trade relies on intense business cooperation between key players in the international arena. Breaches of contracts and other violations of agreed-upon terms give rise to disputes that involve complex legal issues and a tremendous amount of data.
In the past, disputed parties engaged in time-consuming and financially-draining dispute resolution procedures. Dealing with complex disputes across multiple jurisdictions and different time zones was exhausting using traditional methods. People involved in the conflict had to travel long distances to attend court sessions, while the documents containing dispute-related data would quickly pile up and make things unmanageable.
Fortunately, innovative technologies changed how we deal with many things, including complex dispute resolution. In this article, you will learn about the benefits of technology-assisted dispute resolution, its application in alternative dispute resolution procedures, and its potential challenges.
Technology-assisted dispute resolution (also known as TADR) is a term used to describe modern-day technology’s application to traditional (and alternative) dispute resolution. It involves conventional computer technology and artificial intelligence that helps streamline the dispute resolution process. TADR enables more efficient and time-effective conflict resolution.
Some examples of technology-driven solutions include video conferencing tools, case management programs, online scheduling platforms, cloud-based sharing services, blockchain security technology, etc.
One of the most advanced forms of technology-assisted solutions is online dispute resolution (ODR). ODR platforms are driven by machine learning and artificial intelligence, enabling quick and efficient dispute resolution in e-commerce and e-payment platform disputes. But as the technology becomes more intelligent, it can manage more complex disputes involving multi-million international transactions.
Another example of innovative technologies helping dispute resolution efforts is the so-called smart contract. It integrates conflict resolution clauses within the existing software so the dispute resolution mechanism activates automatically when specific circumstances occur.
Finally, case management systems and evidence-presenting applications are excellent examples of implementing modern technology in the legal sphere. Online databases and machine learning combine with legal theories, transforming how we understand dispute resolution processes.
The emergence of technology brought many benefits to complex dispute resolution.
Mediation and arbitration are out-of-court dispute resolution methods with multiple advantages over traditional litigation. But combined with innovative technologies, these alternative dispute-resolution tools produce compelling results.
In contrast to the rigid court process, mediation, and arbitration are more flexible and open to changes, which makes them ideal candidates for revolutionizing technological solutions.
Despite many benefits, technology-assisted dispute resolution has potential challenges, too. Although it ensures flexible, time-effective, and cost-friendly solutions, modern technologies pose a security risk. Some people express reliability and security concerns over the increased use of sophisticated technology.
In addition, many parties do not have access to the latest technology necessary to run online dispute resolution platforms, which increases the risk of power imbalance in the conflict resolution process.
Langbein & Langbein, P.A. is a Florida-based law firm focusing on resolving complex commercial disputes through mediation and arbitration.
Well-versed in innovative technologies, our top-tier experts will help you achieve satisfactory outcomes in the most complex disputes. We work across different jurisdictions and time zones utilizing the power of advanced technologies. In addition to offering time-efficient dispute resolution, we are committed to secure and reliable solutions in a technology-driven world.
Please reach out today to schedule your appointment.