developer_admin

ARTIFICIAL INTELLIGENCE IN MEDIATION

Maya Venkiteswaran* I. Abstract This paper aims to identify the use of Artificial Intelligence in Mediation and the benefits it may have as compared to mediation in the conventional sense. Artificial Intelligence is a developing concept and will benefit almost all fields of life. Thus, mediation is no different when we say Artificial Intelligence will bring about a more seamless process. Further, this paper will look into the various existing software developed to benefit people opting for mediation. This paper will also look into any new areas where such software may further benefit the process. Lastly, this paper will look into the impact other jurisdictions have seen after implementing Artificial Intelligence in the process of mediation. II. Introduction With the development of technology, it is hard to find any process that does not use any form of technology. The benefits one may derive from reducing human interference have been made abundantly clear over the last few decades. In recent times the development of Artificial Intelligence (hereinafter “AI”)and machine learning have taken technology a step further.  We must first understand what AI is? AI refers to the teaching of human intelligence to machines programmed to perform and simulate the functions of humans. The term can be applied to any machine that learns psychological characteristics, such as learning and problem-solving. The ideal feature of AI is the ability to rationalize and take on tasks that can be very effective in achieving the goal of choice.[i] Machine learning teaches computers, through programmed algorithms, to perform human actions and allows the program to gather knowledge, from previous use, to develop their actions further. This is a process whereby a computer collects data, through repeated use, and uses it to improve and expand the functioning of its programs, to create life–like observations and functioning. Such a program does not need to be constantly developed. Instead, the machine learns by itself through a collection of data from previous interactions.[ii] The next concept we must look into is mediation. Mediation is a third-party-driven negotiation where there is a neutral third party that helps resolve a dispute. This is a non-binding process that falls under the category of alternate dispute resolution or out-of-court settlement. The benefits of mediation are that it is a confidential process that is preferred by companies and even in family disputes. This process looks into the merits of a case and the interests of each party in the dispute.[iii] In this paper I shall first analyse the relation between AI and Mediation. Subsequently, I will look into some AI programs that already exist in the field of mediation and how they function. Further, I shall look into some other areas where AI may be used to further simplify the process of mediation. Lastly, I shall delve into the benefits and problems that AI may have, while being used for the process of mediation III. The interrelation between Artificial Intelligence and Mediation AI is still a developing concept, and thus there is not much practical use of it yet in the process of mediation. Mediation has many components where AI will reduce the human element. The main aim of mediation is dispute settlement, and through AI, this can be made easier and quicker. Initially, online mediation included only communication through emails and a platform for video – conferencing. This was more or less the same as in-person mediation and did not involve any significant change to the functions of the mediator or to the duties of either party. But over time, this has changed. There have been developments where software has begun taking over certain functions of the mediator. Some software has been developed to help the parties identify the strengths and weaknesses of their case and understand a possible solution.  IV. Existing programs in mediation There have been many noteworthy programs in mediation. They have helped settle disputes in many ways and simplified the process. Some are: i. SmartSettle SmartSettle is an advanced system that can support many parties that have goals that differ from each other or are in conflict. It can resolve high-level disputes that parties may have. SmartSettle acts as a qualified mediator for parties that may not be familiar with the process. It uses mathematical formulae to improve the dispute\’s outcome by taking into consideration the various priorities a party may have.[iv] Each Party must enter the various considerations it has. This is not disclosed to the other party and thus keeps the same level of confidentiality as the traditional mediation process has. The considerations may be either position, which is the stand a party takes on a particular issue, or the interests each party may have, which is the reasoning behind holding such a position. The process also requires parties to enter the optimal outcome for them. The parties must again enter their acceptable range for agreement on each issue known as the Zone of Possible Agreement.[v] SmartSettle has many ways at which an agreement may be arrived. The traditional method, where offers are exchanged and counter–offers are made to reach a solution. They may also have the software, consider all the parties\’ entries and come up with the optimal solution. The program also caters to a situation where the parties may reach a roadblock. The program may be asked to resolve it, and it will put forth a proposal it thinks would be beneficial to both parties. Lastly, the software in the final stage of the mediation may also make suggestions that bring about a further optimized solution which the parties may not have considered. If the parties are satisfied with the same, they may end the process and consider the settlement a success.[vi] ii. Family Winner In Family Winner, the program uses both game theory and heuristics. This program presents essential values to show the amount to which each party wishes to be awarded the issue being considered. The program takes information from the parties and uses it to make trade-off rules, which are then used

ARTIFICIAL INTELLIGENCE IN MEDIATION Read More »

10 Expert-approved Construction Accounting Best Practices

Content Methodology Long-term Contracts Percentage of Completion Method Why Entrust Your Bookkeeping and Accounting to Us? To calculate the quick ratio, simply add cash and accounts receivable and divide that sum by current liabilities. Liabilities are a company’s financial obligations, which include both short-term and long-term debt. Examples of assets include cash, accounts receivable , inventory, and due from construction loans. Instead, retainage is tracked in separate accounts on the general ledger, typically called retention receivable and retention payable. Once the retained funds are due to be released, the amounts are transferred to accounts receivable or payable. Construction accounting is considered a special combination of bookkeeping and financial management. Construction accounting is designed specially to help contractors stay on top of the expenses and profitability of large, individual projects. Effective and accurate accounting is a decisive key to success in the construction industry. Accounting is a significant aspect of administration and management in business. It is essential to have an accounting team accurately track the transfer of assets into and out of an organization that comprises numerous moving parts. When it comes to finances, contractors and firms related to the construction industry encounter distinctive challenges. Methodology The flow of money in construction companies is tremendously fast and involves a lot of money, not to mention projects are involved hundreds of types of costs. Fortunately, accounting software can help your business eliminate human errors, improve financial management and save you countless hours. The percentage completion vs completed contact is often used by construction companies construction bookkeeping because they typically work on long-term large projects in which income and expenses are often deferred. Accordingly, both percentages of completion and completed contract methods allow for such tax deferral. Now that we’ve covered the differences between regular accounting and construction accounting, it’s time to dive in and discuss the different construction accounting methods. If you need help getting started or have outgrown handling your construction company\’s books on your own, schedule a call with Slate. For example, corporations will have their equity broken down into investments, retained earnings, and net income. This situation can have a negative impact on your financial statements and their evaluation by your banker and surety. After checking for any discrepancies, you may need to contact your bank to discuss any issues that come up. They’re only required to use the percentage of completion method for construction contracts that extend over two years. Complete Controller is solely responsible for the provision of all services on or accessed through this website. Keep a digital copy of your receipts and invoices on a cloud-based technology that will allow you to access these files anytime, anywhere. You can go to a bank or credit union to set up a company checking account that suits the needs of your firm. Long-term Contracts Across the construction industry, average working capital turnover ranges from 5 to 15 depending on specialization. Ideal debt-to-equity for most companies is between 1 and 2, and companies with a debt-to-equity ratio higher than 2 may be unable to pay off its debts. On the other hand, a company with a debt-to-equity ratio of less than 1 may not be using enough debt financing to take on new projects and grow. Examples of liabilities include accounts payable , capital lease payable, accrued payables, and notes payable. Assets are a company’s financial resources — in other words, anything that is cash or could likely be converted to cash.

10 Expert-approved Construction Accounting Best Practices Read More »

‘Interest based Negotiation’- Jonathan Lloyd-Jones [Webinar]

As a part of our collaboration with NLS NMC, ECI organised a training session, headed by Mr. Jonathan Lloyd- Jones. Mr. Jones unpacks what it means to engage in ‘interest-based negotiation’ and how that can be used by students in their mediation strategies. Mr. Jones gives a wonderful insight as to how can disputes be effectively resolved without the intervention neutral third parties.

‘Interest based Negotiation’- Jonathan Lloyd-Jones [Webinar] Read More »

ECI- ODR Expo Tech Blog Writing competition results!

We have finally come to a great conclusion to the ECI ODR EXPO Blog writing competition. We had received some very interesting and well researched entries and the decision to pick the winners was not an easy one! A very hearty congratulations to all the winners! We would also like to thank our judges Ms. Sangeeta Mehrotra, Mr. Ignacio Noble and Ms. Celeida Laporta for their help. View this post on Instagram A post shared by Ex Curia International (@excuriainternational)

ECI- ODR Expo Tech Blog Writing competition results! Read More »

ECI at ABA ADR Spring Conference

We are proud to share that ECI was chosen amongst several prestigious organisations to host a round-table conference for the American Bar Association (ABA) 2021 Dispute Resolution Spring Conference. ECI is hosting a conference on \”Strengthening Voices From the Margins- Duties as an Arbitrator/Mediator\” for ABA members. The theme of the conference is “Agility, Disruption, and Reinvention: ADR in a New World”. Our panelists discuss the paradigm shift in our understandings of what we owe one another as human beings. Inadequacies in how we address the lingering effects of racism/sexism/colonialism on minority communities and the duties of a mediator and arbitrator to help vocalise these concerns in an effective & productive manner for long-lasting impact. The conference would be moderated by Ananya Agarwal and Romit Sarkar from ECI. As speakers, we have with us Mr. AJ Jawad, Senior Mediator, Supreme Court of India; Ms. Selina Morgan Gayle, Founder, Mediator, SMG Mediation; & Ms. Sapna Janghiani QC, Arbitrator, Partner Clyde & Co, Singapore. We thank ABA for this wonderful opportunity and are proud to be a part of the same. View this post on Instagram A post shared by Ex Curia International (@excuriainternational)

ECI at ABA ADR Spring Conference Read More »

NUJS Mediation Competition 2021

Ex Curia International is elated to announce its Exclusive Networking Partnership with the III Edition of NUJS Mediation Competition 2021. The competition is scheduled to take place on 8th and 9th May 2021. The competition, in it’s third edition, promises to challenge ADR enthusiasts from India and beyond with interesting realistic problems and the competitors would be judged by several eminent personalities. View this post on Instagram A post shared by Ex Curia International (@excuriainternational) ECI seeks to promote healthy ADR culture across the globe and hopes that hopes that its association with the competition helps budding ADR practitioners in achieving their dreams. We wish the organising committee all the best!

NUJS Mediation Competition 2021 Read More »

The VII NLS- Negotiation Mediation and Client Counselling Competition.

We are proud to announce that Ex Curia International is the exclusive knowledge partner for the VII NLS- Negotiation, Mediation and Client Counselling Competition, Bangalore, India. The NLS NMC, is one of Asia-Pacific’s leading ADR competitions. Started in 2015, the competition has fast garnered a reputation as an event that adheres to the highest standards. Previous editions have each seen more than 60 teams and 200 students participate, and have brought together lawyers and ADR experts from India and abroad. It is a testament to the quality of the event that the NLS NMC is one amongst a select few global competitions that conducts three ADR events simultaneously, that is, Negotiation, Mediation and Client Counselling and is also a qualifier for the ICC Mediation Week, Paris and the International Negotiation Competition. We look forward to meeting the participating teams, judges and collaborators at the event! Wishing everyone the very best! View this post on Instagram A post shared by Ex Curia International (@excuriainternational)

The VII NLS- Negotiation Mediation and Client Counselling Competition. Read More »