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Roadblock for Sales Chatbot to automate the most important part of sales – the negotiation

Negotiation is a fundamental business process since the age when the barter system was relevant. Since then, negotiation has changed in several ways. Science has developed negotiation theories, methods, types, and even generated prediction models to understand how each party behaves. This led to the introduction of AI into the field to create negotiation tools such as a sales chatbot.

 

An AI negotiation tool can generate information from volumes of data from various sources and deliver it to the customers in a tone that would impact the buying behavior. Such a sales chatbot can predict the elements of importance for an individual based on the demographic factors and historical data of dealing with similar customers. In short, it is learning and adapting like a human being.

Roadblocks for sales chatbotsto be a mainstream tool

The capabilities of a current negotiation tool such as a sales chatbot might look advantageous. And yes, such tools save time, energy, and other resources. 71% of the companies that use automated tools have less than 50 employees. Thus, it is no longer a luxury element for your business. However, there are some roadblocks to such tools.

  • Skewed training

For a sales chatbot to work with efficiency, it must undergo learning or training with appropriate data, and one needs volumes of such data sets. The type of data that the AI developer uses to train the bot becomes the base for the bot’s performance in the field. A developer can’t train the bot in data sets of all genres. Thus potential mishaps are inevitable.

For instance, if you are buying a negotiation bot for your website dealing with used cars for sale in USA, you need a bot that is specially trained with data pertaining to the purchase of cars. A general AI developer who uses data relevant to the purchase of clothes, real estate, and others would skew decision-making ability.

The customer’s mentality while buying a depreciable asset like an automobile is very different than while buying a possible long term investment like real estate. Thus, the only way to get a well-designed bot for the website is by choosing an AI negotiation-enabled sales chatbot tool specifically trained and designed for car deals, like RoboNegotiator.

  • Privacy factor

Negotiation tools are set to utilize data and create information from it. It can use data from relevant sources pertaining to the subject. However, there rises the concern of privacy of data. How to prevent the bot from utilizing data without the customer’s consent? How to create a protocol that determines the data that a bot can and cannot use while generating information.

For instance, if you are using a bot for negotiating used car deals, can it use the historical buying behavior of a customer to generate strategies for your business? Or, can you use the thus-generated strategy for your other related businesses? Does the general law of IP (intellectual property) apply to information generated by your bot?

  • Copyrights factor

Say you are purchasing a bot from a vendor for your car dealers USA company. If your company is about to adopt any change in the business model based on the prediction analysis’s output, do you need to be concerned about commercial protection? Who owns the information generated by the bot? For instance, Rolls Royce used predictive analytics to change its business into a service model. Can the supplier of the AI tool declare rights over the data used by Rolls Royce? (Source)

  • Lack of emotional connection

Numerous bots excel in negotiation by using human-like communication, behavior patterning, and predictive analysis. Such bots can map the emotions, understand the query’s tone, and reply with relevance. However, creating an emotional connection with the customer is only possible with a human counterpart. However, the experts are already successful in creating a bot that can lie to get a better hand during negotiation. Thus, the emotional connection is just waiting around the next corner.

  • Constraints from employees

An autotrader USA company would have several salespeople with decades of experience in selling different types of cars to different customers. Introducing negotiation tools into the business would impart resistance to change, politics, and even de-motivation. It also takes a considerable amount of time, energy, and resources to train the employees regarding using the bot in sales, decision-making, etc.

However, AI negotiation bots are here to stay. The researchers are striving to create better bots every day, and pretty soon, we will be dealing with a bot that interacts and negotiates just like humans.

For more information regarding demo and our services, please go to: http://www.RoboNegotiator.com

Contact:

Dhaval Shah
Email:
info@robonegotiator.com