Austria: Fin Tech

March 19th marks the International Day for Digital Learning — a perfect moment to revisit and further consider the impact AI is having on the legal profession: Bettina Knoetzl encapsulized the situation with minimal words.

Artificial intelligence in alternative dispute resolution and international arbitration, in particular, is no longer a tale of the distant future but an objective reality that was given legislative shape last summer at the European Union law level.

Starting 2 February 2025, Art. 4 of the AI Act will require businesses to ensure their workforce is equipped with a sufficient level of artificial intelligence (AI) literacy.