#ai #wage #wagenegotiations #yahoofinance
Negotiating a salary and benefits can be one of the most stressful parts of an employee’s job. In the dawn of wide-scale AI adoption, employers are considering using artificial intelligence to work through the negotiation process more efficiently. Pactum AI CEO Martin Rand joins Yahoo Finance Live to discuss how AI models can be programmed without certain biases, such as the gender pay gap when speaking with workers. “When a new employee joins, they will get a chance to negotiate with an AI bot that negotiates kind of like a human, but we take all of the biases out of it,” Rand says, citing statistics that women workers may engage less in negotiations. “Now, AI bots don’t have this expectation. So, it removes that [gender wage] gap. And when our people go through the negotiations, 85% prefer to have this negotiation again with a bot in the future.” Rand outlines Pactum AI’s opportunities to support other financial transactions and the company’s ability to scale this product out for more employers.
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