Thomas Snider & Dalal Alhouti analyse the most significant factors affecting arbitration right now
- International arbitration can have a significant carbon footprint, but professionals are taking steps to show commitment to environmental, social and governance issues. These include reducing long-haul flights and using digital solutions.
- As the number of digital assets disputes grows, arbitration institutions will either amend their rules or give guidance on facilitating the use of their institution for these disputes. This area is gradually becoming more regulated.
- If used responsibly, AI should help bring about a quicker and cheaper process with higher-quality awards. Institutions are likely to issue more guidance.
International arbitration continues to evolve. In recent years we have seen significant changes to the arbitral process, with institutions revising their rules to make the process more efficient and robust, such as by enabling the appointment of emergency arbitrators (so that urgent interlocutory relief can be sought), and by making changes to allow tribunals to strike out unmerited claims. We have also seen the rise of third-party funding, a focus on ethics and the arbitrator’s
