Simply ask ChatGPT, “What tools should one use when supporting a negotiation?” and you’ll see the vast array of options currently available. Some of these tools are free, while others are more restricted, and as 2024 progresses, AI development will continue to evolve at an jaw dropping pace.

Over the past 12 months, I’ve used three tools to help me plan, execute, and review negotiations. Each of these tools has its own strengths and limitations, and they’ve evolved throughout the year as the technology has advanced. Despite the rapid changes, I’ve found each to be valuable in its own right.

Here’s how I use each tool:

ChatGPT

There are not many of us unfamiliar with ChatGPT, and it offers numerous use cases to support each stage of negotiation. I primarily use it for brainstorming ideas and strengthening communication strategies.

For example, I might input, “What do you think is important, valuable, costly, or difficult for someone in the consumer goods industry when negotiating a new contract with a retailer?”

My preference is to start brainstorming without using the tool, allowing me to apply my own judgment first. Once I feel I’ve explored all possible options, I turn to ChatGPT to identify areas I might have missed. This approach ensures my ideas remain at the forefront, with the AI serving as a supportive tool rather than the primary source of input.

Others may begin with ChatGPT, then adding to the answers provided, seeing this as more efficient. 

While AI is excellent for brainstorming and refining strategies, it’s important not to over-rely on it for definitive actions. Context is critical in negotiations, and AI’s suggestions are only as good as the inputs it receives. Your understanding of the nuances of the situation, the parties involved, and the dynamics at play are absolutely crucial in assessing what’s the most suitable way forward. 

Perplexity 

Perplexity is a lesser-known tool compared to ChatGPT but offers a uniquely different use case. Similar to Google, Perplexity acts as a search engine, pulling real-time information from the internet to provide up-to-date answers. In contrast, ChatGPT relies on its pre-trained knowledge base, has a data cutoff date, and can sometimes produce outdated or incredibly inaccurate information.

So, how do I use Perplexity? Much like Google. When I need to gather information on a particular topic, company, market, or any other area, Perplexity is my go-to tool. 

Why not Google? The advantage of Perplexity, at least as I see it, lies in how it synthesises and presents information. Instead of a long list of sources that you need to sift through (Google), Perplexity delivers its findings in a concise, summarised format. Additionally, it provides web sources alongside the summary, allowing users to dig deeper and verify the information if needed.

For example, you might ask, “What are the latest market trends, financial performance, and recent news affecting [Company X] that could impact upcoming contract negotiations?”

Perplexity would then present a clear summary with relevant sources, streamlining your research process.

Fireflies A.I

Fireflies has been an enormous benefit to me over the past year. It’s described as an AI-powered meeting assistant that automatically records, transcribes, and analyses virtual meetings, providing transcripts and summaries that I regularly refer to after the meeting.

Historically, during meetings, much of my attention was diverted away from the screen and the other party. Juggling between note-taking and engaging in the conversation meant that neither received the full attention it deserved. Reading through my often-illegible scribbles afterward only added to the challenge.

Fireflies allows me to be 100% present in the conversation, leading to much better conversations. Knowing that I’ll receive a transcript and summary afterward reassures me that I’m not missing anything and gives me the opportunity to revisit the discussion for areas I might have overlooked. The eye-opening part is realising just how much can be missed in real-time. In this way, Fireflies acts not only as a gatekeeper but also as a communication trainer, highlighting weaknesses in both listening and questioning skills.

As with all AI-powered tools, data protection and confidentiality are important considerations and should not be overlooked. It's advisable to inform all parties that you’re using the tool, ideally in advance of the meeting, and offer them the option to request a meeting without it. 

As AI continues to evolve, these tools will likely become even more advanced, creating new opportunities to enhance negotiation performance and outcomes. 

While humans negotiate with humans (currently!), using these tools ethically and effectively can support value creation and relationship building in the negotiation process.