Leverage negotiation AI skills in your business strategy

Description of the video:

WEBVTT 1 00:00:00.000 --> 00:00:03.362 [MUSIC PLAYING] 2 00:00:03.362 --> 00:00:09.580 3 00:00:09.580 --> 00:00:10.580 (Tatiana Kolovou) Hello. 4 00:00:10.580 --> 00:00:12.400 My name is Tatiana Kolovou. 5 00:00:12.400 --> 00:00:16.280 I'm a teaching professor at Indiana University's Kelley 6 00:00:16.280 --> 00:00:18.680 School of Business, and I specifically 7 00:00:18.680 --> 00:00:22.960 teach negotiation, power, and influence to our MBA students. 8 00:00:22.960 --> 00:00:25.160 I wanted to talk a little bit about questions 9 00:00:25.160 --> 00:00:29.240 that I get usually that relate to negotiation 10 00:00:29.240 --> 00:00:33.120 and relate to using AI to practice or strategize 11 00:00:33.120 --> 00:00:34.600 with negotiation. 12 00:00:34.600 --> 00:00:37.360 The first question that I get is, what do people 13 00:00:37.360 --> 00:00:41.880 misunderstand about using AI in conversations or negotiations? 14 00:00:41.880 --> 00:00:45.500 And the best analogy that I could think to explain this. 15 00:00:45.500 --> 00:00:47.300 Imagine if you're learning a new language, 16 00:00:47.300 --> 00:00:50.760 maybe French is not in your repertoire 17 00:00:50.760 --> 00:00:52.460 and you decide to learn French. 18 00:00:52.460 --> 00:00:55.100 But what you do in learning French, 19 00:00:55.100 --> 00:00:57.680 you memorize phrases and things you 20 00:00:57.680 --> 00:01:00.700 want to say when you go into a restaurant, 21 00:01:00.700 --> 00:01:03.280 or when you want to order something in a store. 22 00:01:03.280 --> 00:01:05.340 Well, you know how to say it and pronounce it, 23 00:01:05.340 --> 00:01:08.720 but you don't know anything about the origin of the verbs 24 00:01:08.720 --> 00:01:11.680 or how to use them, or what the tenses may be. 25 00:01:11.680 --> 00:01:15.060 So you've pretty much learned how to use the information, 26 00:01:15.060 --> 00:01:16.840 but you don't know where it's coming from, 27 00:01:16.840 --> 00:01:20.500 you don't understand how it's structured as a language. 28 00:01:20.500 --> 00:01:23.660 Therefore, you probably could not have a regular conversation 29 00:01:23.660 --> 00:01:27.380 if you just use AI to prepare you for a negotiation. 30 00:01:27.380 --> 00:01:29.940 You could have that conversation, but anything 31 00:01:29.940 --> 00:01:33.200 at a different layer or anything that gets more complex, 32 00:01:33.200 --> 00:01:37.260 you would not be able to conduct because you 33 00:01:37.260 --> 00:01:39.340 have stayed at the surface. 34 00:01:39.340 --> 00:01:42.940 So when I get the question of using AI 35 00:01:42.940 --> 00:01:45.500 and how it's changing the way people 36 00:01:45.500 --> 00:01:48.320 prepare for important negotiations, 37 00:01:48.320 --> 00:01:50.260 it's important to understand that you either 38 00:01:50.260 --> 00:01:53.000 use it to build your strategy. 39 00:01:53.000 --> 00:01:56.020 So in negotiation, we learn a lot about the best alternative 40 00:01:56.020 --> 00:01:57.900 to a negotiation agreement. 41 00:01:57.900 --> 00:02:00.660 We may learn about anchoring and we 42 00:02:00.660 --> 00:02:03.740 may learn about a difference between a ZOPA 43 00:02:03.740 --> 00:02:08.740 and the Zone Of Optimal Potential Agreement. 44 00:02:08.740 --> 00:02:11.940 So if you want to apply all of these 45 00:02:11.940 --> 00:02:16.740 into your specific situation of maybe buying or selling a car 46 00:02:16.740 --> 00:02:20.740 or negotiating for a salary, you can decide how 47 00:02:20.740 --> 00:02:22.760 that will help you strategize. 48 00:02:22.760 --> 00:02:27.220 Once you have that and you know how you will respond or pivot, 49 00:02:27.220 --> 00:02:28.960 then you also can use AI. 50 00:02:28.960 --> 00:02:31.230 So you can use AI to plan for that, 51 00:02:31.230 --> 00:02:37.610 and then you can also use AI to practice with maybe a partner 52 00:02:37.610 --> 00:02:38.950 or you can do a role play. 53 00:02:38.950 --> 00:02:42.390 There's many AI tools that create role play situations, 54 00:02:42.390 --> 00:02:44.790 and that's what we do and we learn in our courses. 55 00:02:44.790 --> 00:02:48.490 So you enter the right prompts and then you go back and forth, 56 00:02:48.490 --> 00:02:51.770 and you say, here's the rubric that I want you to grade 57 00:02:51.770 --> 00:02:52.430 me against. 58 00:02:52.430 --> 00:02:54.970 I want to know if I was able to accomplish this 59 00:02:54.970 --> 00:02:57.050 and this and this, and then the AI tool 60 00:02:57.050 --> 00:02:58.550 will give you some feedback. 61 00:02:58.550 --> 00:03:01.290 I also get the question is, how do we 62 00:03:01.290 --> 00:03:05.210 help people apply this knowledge and use it immediately 63 00:03:05.210 --> 00:03:06.570 in their day-to-day work. 64 00:03:06.570 --> 00:03:09.450 And how we teach negotiation, we still 65 00:03:09.450 --> 00:03:14.510 will go back to teach the basics and the origins and the theory. 66 00:03:14.510 --> 00:03:15.630 This is really important. 67 00:03:15.630 --> 00:03:17.970 Remember, you can't converse in French 68 00:03:17.970 --> 00:03:20.490 if you don't understand where this is coming from. 69 00:03:20.490 --> 00:03:23.330 We'll use AI to navigate and strategize 70 00:03:23.330 --> 00:03:25.290 around different scenarios. 71 00:03:25.290 --> 00:03:29.530 And once we have that, we will practice with another person, 72 00:03:29.530 --> 00:03:32.670 something may not be able to do on a day-to-day basis. 73 00:03:32.670 --> 00:03:36.290 But then you can use AI to role play and practice 74 00:03:36.290 --> 00:03:39.510 being ready for the face-to-face conversations. 75 00:03:39.510 --> 00:03:42.640 We look forward to having you in the program. 76 00:03:42.640 --> 00:03:47.000