AI Buyer/Seller Negotiation agents

Artificial Intelligence agents negotiate (on behalf of buyers) with AI agents (on behalf of sellers)

Patent application summary: Artificial Intelligence Negotiation Agents

There are numerous outlets for purchasing products and services today. Information about products and services has virtually exploded in the Information Age. Between online product reviews, social media posts, product trends, user suggestions, blogs, frequently changing prices, loosely defined offers, and unreliable product/service providers, consumers today must sift through various online and brick-and-mortar retailers to find the best deals on the things they want to purchase. So consumers making purchasing product decisions often deal with information overload, market noise, pricing gaps, and conflicting product-review signals.

At the same time, retailers have to manage product and service advertisements across different advertisement channels (e.g., print, radio, television, online) that each requires different marketing techniques, and often complex campaign-management solutions. In the end, regardless of the medium, retailers must effectively predict what consumers want in order to better target and promote their offerings.

Buyers and sellers authorize agents to negotiate on their behalf

Server-implemented framework that automates the discovery and negotiation of product sales online based on buyer- and seller-defined parameters and elasticity thresholds.

Artificial intelligence (AI) negotiation agents operate on behalf of the buyers and sellers to locate potential deals, automatically and anonymously negotiate towards the best terms for their respective users based on the parameters set by the users to be important and also based on market conditions

The AI negotiation agents join a multi-stage negotiation session until sufficiently improved offers are obtained for particular products and services.

These negotiated, improved, offers are then transmitted to the buyers and sellers for acceptance.

The AI agent for Sellers optimizes sales strategy and effectiveness while the AI agent for Buyers improves purchasing decision-making and empowers better deals with less effort.

Inventors: Krasadakis; Georgios; (Dublin, IE)
Microsoft Technology Licensing, LLC
Redmond WA
USFamily ID:1000001897708Appl. No.:15/087870Filed:March 31, 2016

Original patent application

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