The European Commission is exploring new legislative initiatives for automated contract negotiation, conclusion, and performance, driven by AI and smart contracts.

The Commission is looking into novel forms of contracting, made possible by smart contracts and artificial intelligence (AI), the economic relevance of the use of such technologies for a successful transition to a digital economy, and potential problems for businesses and other interested parties.

What does this consultation explore?

• The use of AI solutions for contracting, where software using AI is involved in contracting by, for example, drafting, reviewing, signing or executing contracts, or by concluding contracts for legal and natural persons.
• The use of smart legal contracts, which are legally binding contracts in which either some or all the associated terms, conditions and rights under the contract are defined in and/or performed by code execution using blockchain or distributed ledger technology (DLT).

This consultation is addressed to companies. It will help make policies to address the market uptake and existing barriers to fully capitalise on the advantages of these technologies.

You can create a draft with your answers and edit them later by clicking on ‘Save’. You can send the final version by clicking on ‘Submit’.

Link here