New-age technologies such as Artificial Intelligence (AI) could be used for early resolution of matters, including insolvency cases, National Company Law Tribunal President Justice Ramalingam Sudhakar said. While addressing a national-level colloquium of NCLT, Justice Sudhakar suggested that AI can be used in case of resolution, especially in the admission of cases, a statement issued by NCLT said.
“One aspect for early resolution is the development of Artificial Intelligence technology, he said. We are focusing on leveraging artificial intelligence and standardization of processes. This will help in reducing delays. We are also focused on evolving a code of best practices so that there is certainty in decision making, said Justice Sudhakar. According to Justice Sudhakar, India was envisioning a multi-trillion dollar economy.
“The bedrock in a nation’s economy is industry and commerce, which is governed by Company Law besides other laws, he said. NCLT President stated that the government has come out with a code to resolve corporate issues to enable corporates of India to compete with the world.
Continue reading: https://www.news18.com/news/tech/artificial-intelligence-could-be-used-for-early-resolution-of-matters-nclt-president-4913927.html
“One aspect for early resolution is the development of Artificial Intelligence technology, he said. We are focusing on leveraging artificial intelligence and standardization of processes. This will help in reducing delays. We are also focused on evolving a code of best practices so that there is certainty in decision making, said Justice Sudhakar. According to Justice Sudhakar, India was envisioning a multi-trillion dollar economy.
“The bedrock in a nation’s economy is industry and commerce, which is governed by Company Law besides other laws, he said. NCLT President stated that the government has come out with a code to resolve corporate issues to enable corporates of India to compete with the world.
Continue reading: https://www.news18.com/news/tech/artificial-intelligence-could-be-used-for-early-resolution-of-matters-nclt-president-4913927.html
