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The Evolution of Contract Law in the Age of Technology

#artificialintelligence

There is an old saying, "to err is human". Is humanity imposing double standards on artificial intelligence? COVID-19 has wreaked havoc of magnitude proportion across the globe, not even machines had been spared of its ramifications. This is exemplified by an incident back in April 2020 when traders attempted to sell off May's oil future contracts which resulted in a futures oil prices nosedive into negative digits (Note: these are crude oil we are speaking of, so normal consumers will have little use for such oil – you cannot store it in your backyard either). On 20 April 2020, the price of West Texas Intermediate futures contracts traded to as low as negative $40.32 per barrel.