AI Takeover? 3 AI Predictions for Negotiation in 2024

(3 minute read)

Artificial intelligence (AI) is not just for academics or the elites of society – it's for you!

But before you start plugging awkward phrases like "what is AI" into Google, take a breather from your search and spend a few minutes reading this. I'll help you understand AI's potential future direction so you can decide how to use it (or not at all). Here are my top 3 AI predictions for negotiations in 2024. 

1. AI Makes Negotiation Fundamentals Essential  

AI is automating negotiations now. However, listening, asking questions, and labeling emotions will remain necessary. You'll negotiate with robots eventually, so taking a course or buying a book on negotiation is a wise idea. Keep practicing and investing in your growth, even as AI advances. You'll be happy you did – to help you get started, here's a free negotiation cheat sheet. 

2. AI Agents Emerge 

AI is leveling up in 2024. Negotiators will use low-cost AI agents to help prepare and execute their negotiations. USC researchers already use AI to predict outcomes and understand people's feelings during negotiations. It works. Your AI negotiation agent will be a versatile bot that can handle complex tasks for you. For example, Meta (formerly Facebook) has open-sourced code for a negotiation agent on GitHub. You can check it out here. As AI advances, businesses who understand agents will have the upper hand. 

3. AI Accelerates Negotiation Preparation 

As AI gets smarter, preparing for negotiations will get easier. For example, here are 10 ChatGPT prompts to help you prepare faster. When you input prompts into ChatGPT or BARD, you find information much faster than you can. Golden rule: The better the prompt, the better the output. Recently, I used these tools to fine-tune three negotiation strategies with a business owner who sold their business for six figures. Again, it works, but always verify your output with another source. 

This is a big opportunity for those teaching negotiation for a living. Some firms live in the past, relying on old tactics to do a new job. It's time to adapt because businesses want to use AI without spending tons of money, and learning the basics of AI in negotiation prep is a simple way for them to do that. Those teaching AI more will reap the benefits of happier customers and more revenue – major kudos to you for being ahead of the curve. 

AI is here to stay. You might have a lot of questions about controlling it and ensuring it's doing things fairly. I definitely do. But you and I will learn as we go because the future of negotiation is today. Will you embrace it or fight it?

If AI or negotiations remotely interest you or you happen to be working on an AI negotiation tool, feel free to book a Zoom meeting with me or drop me an email at shane@shaneraymartin.com. I'm always available via text at 480-619-9239 too.

Another great resource is Deep View, a top-notch, free newsletter with 100k+ subscribers to help you stay informed (no affiliation, just a friendly recommendation).

BONUS PREDICTION

4. AI Outperforms Human Negotiators

Here's a big one: AI will outperform humans in negotiations. 

Today, companies pay you to negotiate deals. Your negotiations can be challenging and take a long time – like running a marathon. I've run 15 of them – I'm tired thinking about it! But what about the negotiations never negotiated? At some companies, there are more deals to negotiate than people to negotiate them. A lot of buyers are overworked and underpaid. This is where AI-powered negotiation services come in. They use AI to help make deals 24/7/365. Companies like Pactum AI, Procuro, and WallEWorkers are ones to keep an eye on. I know there are other excellent companies, too. Please DM me who they are, and I'll add them to this article.