The intelligence of negotiation
AI bot successfully negotiates a better deal
A new era of negotiation has arrived thanks to the ground-breaking work of Silicon Valley start-up, ContractBot. The bot, based on OpenAI’s ChatGPT functionality, uses advanced natural language processing, machine learning, and computer vision which enables it to process vast amounts of information quickly and accurately.
Today, ContractBot announced that NEGbot has successfully negotiated with a major life insurance provider on behalf of a client to remove certain exclusions from their policy. The client, Jane Smith (name changed), had previously been denied full cover due to a pre-existing medical condition. However, NEGbot was able to demonstrate that the condition was well-managed and did not pose a significant risk, resulting in the successful negotiation.
NEGbot’s success extends beyond insurance. In the recruitment sector, the bot successfully negotiated a salary deal that was 16% better than the one initially offered by the hiring company. In another case, NEGbot helped a couple settle their divorce and child custody matter, taking into account all nuances of their relationship and living arrangements to determine what was best for the child. When presented with the solution NEGbot had developed, the judge overseeing the case was astounded at how well the bot had covered all legal and ethical angles.
Founded in 2023 by a team of entrepreneurs who saw the potential for AI bots to revolutionize the negotiation process, ContractBot has seen rapid growth, with the number of registered users increasing by 400% in the past year. According to their CEO, the company’s success lies in its ability to provide a cost-effective and efficient service thanks to the cutting-edge AI technology. “Our AI bots can process masses of information in a fraction of the time it would take a human negotiator, enabling us to offer a service that is faster, more accurate, and more cost-effective than our competitors.”
Following the success of NEGbot, ContractBot is rumoured to be training specialized bots to broker trade deals between international rivals and peace talks in conflict zones. We could all benefit from more intelligent negotiation!
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