MIT AI Negotiation Competition

The MIT Initiative on the Digital Economy is seeking participants for the launch of the inaugural MIT AI Negotiation Competition! Large Language Models (LLMs) are transforming the way we work, live and communicate with each other. The MIT AI Negotiation Competition is a virtual event that will explore some of these transformations by challenging participants to harness the power of ChatGPT during realistic negotiation scenarios.

All participants who are admitted into the competition receive free access to a “sandbox” environment for developing and testing negotiation bots with a demo exercise. Later, participants will have the opportunity to submit their best prompts in successive rounds of the competition. In each round, bots negotiate with each other, yielding scores for value creation, value claiming, subjective value, and efficiency. These scores function as feedback to facilitate improvements to the prompt for the following round. 

The competition will also include a bot-vs-human event, in which all human participants will have the opportunity to negotiate with a subset of the bots. Prizes will be awarded to top-performing human negotiators as well as top-performing bots!

Winners of the competition will be recognized on our website and will receive free access to an AI-accelerated negotiation training from MIT Sloan Executive Education called Mastering Negotiation Skills with AI! Winners will also receive free admission to the MIT-Harvard PON AI Negotiation Summit March 7-9, 2025.

Submit an application by January 22, 2025 to be part of the first cohort of the MIT AI Negotiation Competition! The competition is conducted entirely online, and will take place in early February 2025. Don’t worry if you have limited prior experience in negotiation and/or Generative AI. We’re seeking heterogeneous group of participants with a range of backgrounds and experiences.

By leveraging the flexibility and open-ended nature of LLMs, participants will move beyond traditional rule-based methods, unlocking new possibilities in the art and science of negotiation!.

Please note, data from this competition is being used in research at MIT. Participants who are accepted into competition will be prompted to sign a consent form as part of the registration process.

To apply for the chance to participate in the competition, please select the “apply now” button at the top of the page. Deadline to apply is January 22, 2025 by 5:00pm Eastern Time.

To contact the event organizers, email ai.negotiation@mit.edu