whether virtual dispute resolution or AI are helpful in resolving financial disputes

in #ai2 years ago

I think AI can help us resolve economic disputes to a certain extent, but we can't rely on AI to make the final decision. This is because although the current AI can provide a highly accurate result to inform the court how to conduct a trial through the algorithm, I think the algorithm itself is artificially designed, and the bias of human beings cannot be completely avoided, so it will be reflected in the algorithm. However, since the algorithm in AI includes the trial results of most previous cases, it can be used as a reference material for the trial personnel to consider. However, due to the particularity of each case, the previous results cannot be completely copied, so it is still necessary to consider the current actual situation to make a result that best meets the interests of all parties and satisfies the public.
When a person is involved in a financial dispute, they first need to hire an experienced professional lawyer, because he knows how to determine the cause of the incident, and this is the first step to obtaining relevant compensation or resolving the problem. In addition, AI also provides victims who do not know the details of the law with a rough way to estimate the compensation, saving them human and financial resources, and enables these non-professionals who do not have much legal knowledge to have a quick reference to the possibility of obtaining compensation for accidents, so as to make a basic understanding of the specific situation in the future.
Because financial disputes are usually with multiple stakeholders, everyone who has error that need to be held responsible for the event. When deal with the case, the judge needs to consider the meaning behind the words which can’t understand by the AI. But AI is fairer than people, when resolve financial dispute it can provided more cases to reference like the India judge used ChatGPT for making decisions for the court case, it can provide how to deal and the similar kinds of case how to deal and based on these cases to make the decision. Therefore, the result is more reasonable.

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