Over two decades of research and development has resulted in eight core algorithms that enable Smartsettle’s intelligent solutions. Smartsettle’s neutral site is in the business of serving these algorithms to decision makers with conflicting objectives in order to help promote agreement.
The neutral site through a special API receives information from its users and responds by serving information that helps collaborative negotiators reach fair, efficient, and timely agreements. In short this is a “collaborative negotiation service”.
The Smartsettle algorithms are implemented at the neutral site in order to support the Smartsettle Software As A Service (SAAS) model. They typically operate in this order:
- Single Negotiating FrameworkSM (SNF)
- establishes the context for the negotiations and any conditions that will apply once agreement has been reached
- Comprehensive Preference AnalysisSM (CPA)
- enables the system to learn the underlying priorities and interests of the parties
- Visual Blind BiddingSM (VBB)
- enables the parties to submit both open and secret offers in a way that helps parties reach agreement quickly
- Reward Early EffortSM (REE)
- distributes the overlap in a way that discourages holding back and motivates collaboration
- Automatic Deal-CloserSM (ADC)
- resolves a small gap impasse in a more intelligent and fair way than the traditional split the difference
- Fairness Enhancing NormalizationSM (FEN)
- adjusts satisfaction scales in order to make fair comparisons among all the parties
- Maximize the Minimum GainSM (MMG)
- analyses comprehensive preferences to uncover and fairly distribute hidden value after a Baseline agreement has been reached
- Expert Neutral Deal-CloserSM (END)
- integrates neutral intervenors in a safe way, but only as a last resort in order to guarantee a collaborative outcome
The first task of negotiators is to build an SNF, which is like the final agreement except for blanks representing unresolved issues. CPA determines how parties become satisfied on each issue so that Smartsettle can generate intelligent suggestions. VBB allows parties to make secret bids on these suggestions. An overlap results in a deal. Behind the scenes, Smartsettle REE makes it counterproductive to hold back. Resulting increased settlement rates saves time and money in all types of negotiations and promotes access to justice in dispute resolution. If there’s a small gap then the ADC can close it instantly and without bias by rewarding early effort. FEN encourages parties to focus on what they want by making sure that no party is able to game the system. Normalization and improvement algorithms are only relevant to multivariate problems. By the time negotiators get this far there should be a deal. But in the rare case of no agreement in Final Session, parties can agree to the END, which will guarantee a collaborative outcome.
The Smartsettle service is used in simulated negotiations, games, and just starting to be used in real-life. In February, 2019, Smartsettle ONE made history as the first time AI was used for dispute resolution in a public court in England and Wales. According to the Law Gazette, after a certain dispute over a £2,000 unpaid bill for a personal counselling course had being making little progress over the previous three months. Smartsettle ONE was able help the parties find an satisfactory outcome in the space of an hour.
If you have a negotiation that could benefit from Smartsettle’s service you may wish to take the Resolution Cloud demonstration site for a test drive. Start by negotiating against our robot. Supplement that by practicing with a real opponent. When you are ready create a real case. If your case is simple, Smartsettle ONE may do the job. Smartsettle Infinity is at hand for the most complex high-value multivariate multilateral cases on earth. Facilitators are standing by ready to help.
If you already have your own application and would like to enhance it with Smartsettle powered intelligence this can be done quickly and painlessly with a white-label site that subscribes to our neutral site via an API. White-labeled sites can be configured to suit a wide variety of needs. If you have a special need that is not represented by our configuration options then talk to us about a plugin.