Nibble has been designed by a team of academically-trained experts in AI negotiation, behavioural science and conversational design to focus on delivering win-win outcomes to clients and their customers at scale. But how does it all work?
In this article, we'll give you an insight into just some of the technology powering Nibble's autonomous negotiations.
What makes AI negotiation so powerful?
Three pillars uphold Nibble's autonomous negotiation standards.
Pricing Algorithms: These custom-built algorithms determine the bids Nibble makes by evaluating various conditions in realtime – for example, Nibble's previous offer, the user's most recent offer, the current length of the negotiation, circumstances mentioned by the user, and more.
Negotiation Techniques: Nibble makes use of various real-world negotiation techniques when conducting autonomous negotiations. These techniques are based on behavioural science and negotiation theory, recognizing specific user behaviours and adapting the bot's offers and responses as needed to maximize the likelihood of agreeing a deal.
Proprietary NLU: Built from the ground-up specifically to understand negotiation, Nibble's AI negotiations are continually improving so that the chatbot understands and responds to user's offers, circumstances, and their own negotiation techniques. This NLU is continually improved, now trained on over 1 million automated negotiations and counting.
How are Nibble's responses calculated during automated negotiations?
Nibble's bids themselves are handled by our negotiation algorithm – no LLM can touch the numbers Nibble outputs to users. As for the copy and tone of voice, it uses a unique approach that is very customisable to deliver varied, empathetic responses that feel on-brand.
We call it Atomic Copy. Responses are made up of 'Atoms' that can fit together seamlessly like pieces of a puzzle. A single Nibble response can be composed of as many as five or six different atoms, each with their own set of variants that can change depending on how the AI negotiation is progressing. These atoms give Nibble maximum flexibility while ensuring we stay in control of what is being said.
Nibble also uses 'Generative Atoms' to respond to unique messages while avoiding the risks usually associated with LLMs. You can find out more about this unique approach here.
Negotiation Techniques used in AI negotiation
Nibble's autonomous negotiations utilize a variety of real-world negotiation techniques proven to improve the likelihood of reaching win-win deals. Some of these include:
- Anchoring - By going first in negotiations, Nibble sets expectations in AI negotiations and guides the process towards a win-win deal.
- Tactical Timing - Delays and pauses in the negotiation convey thinking time, making conversations feel human and giving users feedback on how their offers are being received by the bot.
- Active Listening - Nibble's autonomous negotiations use visual cues, such as emoji reactions, to further illustrate Nibble is listening to the user and provide a form of feedback to the user's offers that is more than just written copy.
- Empathy - Nibble speaks in an empathetic tone of voice and deploys unique responses with 'Generative Atoms' to establish connections with users and make sure they feel understood.
- Reason Deployment - Did you know, offers are more likely to be accepted if you pair them with a reason? Nibble does this, using brand-specific reasons to improve the likelihood of agreeing a deal that works for both the client and the end user.
The AI negotiation platform trained on over one million negotiations
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Nibble wouldn't be where it is today without the learnings we have gathered from more than one million automated negotiations across a huge variety of sectors - from resale marketplaces, to home electronics, B2B equipment, AI contract negotiation, apparel, and more.
Each month, Nibble conducts tens of thousands of automated negotiations. So what's next for AI negotiation? Wait and see...
What to read next?
You can read some of our customer stories, showing examples of Nibble reducing discounting, increasing margin and conversion rates, and even boosting AOV.
Or, learn about Nibble's Brand Value Statements that deliver the message your customer or prospect needs to hear at the exact moment they need to hear it to seal the deal.
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