Ankita Sultania, B.B.A LL.B. (Hons.) NMIMS Kirit P. Mehta School of Law, Mumbai
ABSTRACT
This article delves into the convergence of artificial intelligence (AI) and smart contracts, two rapidly evolving technologies poised to revolutionize various industries. AI, with its ability to mimic human intelligence through algorithms and computing systems, complements the self-executing nature of smart contracts, which encode digital agreements directly into lines of code. By exploring their integration, this article highlights the immense potential of AI and smart contracts to enhance transactional efficiency, diminish reliance on intermediaries, and bolster process speed and security across sectors such as finance, insurance, and real estate. Furthermore, it examines the legal validity, benefits, challenges, and future prospects associated with the adoption of AI and smart contracts, emphasizing the need for responsible deployment and legal guidance. Overall, this article provides insights into the transformative impact of AI and smart contracts on business operations in the digital age.
Keywords: Artificial Intelligence, Smart Contracts, Automation, Efficiency, Legal Validity, Future Prospects.
