CZ proposes AI as a legal reform and clarity toolkit

Source Cryptopolitan

Changpeng Zhao (CZ), the billionaire founder of Binance, has reignited the debate over the intersection of artificial intelligence and legal reform with a bold proposal: using AI to simplify national laws into clear, understandable language.

In a post shared on X (formerly Twitter), Zhao criticized legal systems as “gigantic, patched, added, and often intentionally made complex.”

“AI/LLMs are great at text processing. And laws should be simple and easy to understand, by a normal person,” Zhao added.

Zhao also emphasized that his post did not mean to disparage lawyers; instead, he argued that their expertise could be better used in innovation rather than untangling legalese.

CZ proposes AI as a legal reform and clarity toolkit

Zhao’s argument comes amid global efforts to regulate AI, such as the European Union’s AI Act and ongoing U.S. legislative debates. Yet, his suggestion flips the script, taking the conversation beyond whether AI can be regulated to talking about how the technology could help rewrite and streamline laws themselves.

Legal-tech advocates, including Wolters Kluwer, have already embraced generative AI to simplify legal research. In its “Straight Talk” series, the firm’s leaders argue that lawyers who leverage AI effectively can outpace those who don’t.

The U.S. tax code runs over 6,800 pages. At the same time, regulations like the EU’s General Data Protection Regulation (GDPR) have been repeatedly criticized for its opacity, even by the companies attempting to comply with them.

AI-based platforms like Harvey.ai, used by major firms, and tools from Wolters Kluwer’s VitalLaw AI now assist in summarizing decisions and streamlining contract reviews.

Stanford’s Human-AI collaboration lab found AI-generated legal briefs often rivaled human-written originals, although it cautioned about the occasional hallucinations that have embarrassed lawyers and drawn strong criticism from court officers.

Legal professionals agree that AI is part of their future

AI may shift law firm workloads from billable grunt work to strategic tasks, but legal practitioners must pair speed with judgment.A 2023 Wolters Kluwer’s “Straight Talk” survey notes that 73% of legal professionals expect to integrate generative AI into their work within a year.

While AI boosts efficiency in research and drafting, seasoned lawyers caution against blind trust without context and legal understanding. Binance itself has faced regulatory challenges across jurisdictions and reached a $4.3 billion settlement with U.S. authorities in 2023.

Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold price moves closer to three-week peak amid modest USD downtickGold price (XAU/USD) attracts some dip-buying during the Asian session on Tuesday and reverses a major part of the previous day's retracement slide from a nearly three-week high.
Author  FXStreet
22 hours ago
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Tuesday and reverses a major part of the previous day's retracement slide from a nearly three-week high.
placeholder
S&P 500 hits a new all time of 6,300 for the first time everThe S&P 500 broke through 6,300 for the first time in history on Tuesday, as rising demand for crypto stocks and tech names sent U.S. markets higher across the board.
Author  Cryptopolitan
21 hours ago
The S&P 500 broke through 6,300 for the first time in history on Tuesday, as rising demand for crypto stocks and tech names sent U.S. markets higher across the board.
placeholder
Japan’s bond market is falling apart in real time after bond values crashJapan’s bond market is falling apart in real time. The 30-year Japanese bond yield jumped to 3.20%, a fresh record.
Author  Cryptopolitan
20 hours ago
Japan’s bond market is falling apart in real time. The 30-year Japanese bond yield jumped to 3.20%, a fresh record.
placeholder
EUR/USD sinks towards 1.1600 as US inflation rises and crushes Fed cut hopesThe EUR/USD fell some 0.55% on Tuesday after the latest US inflation report revealed that prices are edging higher, justifying the Federal Reserve's current policy stance.
Author  FXStreet
5 hours ago
The EUR/USD fell some 0.55% on Tuesday after the latest US inflation report revealed that prices are edging higher, justifying the Federal Reserve's current policy stance.
placeholder
Japanese Yen remains vulnerable near multi-month low against USDThe Japanese Yen (JPY) hit a fresh low since April against its American counterpart during the Asian session on Wednesday.
Author  FXStreet
2 hours ago
The Japanese Yen (JPY) hit a fresh low since April against its American counterpart during the Asian session on Wednesday.
goTop
quote