Automated Negotiation: The support of Artificial Intelligence

The explosion in new digital technologies and artificial intelligence has had a profound impact on the negotiation process. But in what way have they influenced traditional negotiation and conflict resolution? With respect to digital technologies, Negotiation Support Systems (NSS) have been developed. This support software facilitates communication between negotiators, helping to control factors in the negotiation process and facilitating value creation and decision making. In each phase of the negotiation different features are developed with the aim of carrying out better preparation, examining and processing a greater quantity of information, making better offers and concessions, and reaching the most advantageous agreement.
With respect to the impact of Artificial Intelligence, we analyze the automation and its operation in the different phases of negotiation (preparation, process, and closing). The automated agents or Negobots are designed to meet a specific objective and via Machine Learning and Deep Learning, they are prepared to deal with a negotiation. However, the following question arises: Is it better for an automated agent or a human to negotiate? Limitations such as a lack of creativity or the information processing level can lead to worse decisions and agreements being made.