Non-fungible tokens (NFTs) are an emerging application of blockchain technology, with the potential to transform various industries, including tourism. Despite conceptual discussions that have highlighted opportunities and challenges associated with using NFTsâsuch as in digital souvenirs, ticketing systems, loyalty programmes, and conservation initiativesâthere is a critical gap in the literature consisting of the lack of a structured methodological framework to empirically evaluate the impact of real-world NFT implementations. This study addresses this gap by proposing a conceptual model and methodological framework designed to assess NFT projects in the tourism sector. The framework integrates diverse data collection methods, advanced analytical techniques (including econometric analysis, natural language processing, and machine learning), and a technological workbench for tracking key performance indicators (KPIs). To demonstrate its applicability, the framework is applied to the Dalmatia NFT project, an exploratory application in cultural tourism. The considered example highlights the potential of NFTs to enhance tourism experiences while addressing challenges such as scalability, sustainability, and user engagement. This study concludes with insights into the frameworkâs practical implications for stakeholders and outlines future research directions for empirical validation. By bridging the gap between theory and practice, this study aims to provide a robust foundation for effectively integrating NFTs into the tourism industry.
In online auctions, fraudulent behaviors such as shill bidding pose significant risks. This paper presents a conceptual framework that applies dynamic, behavior-based penalties to deter auction fraud using blockchain smart contracts. Unlike traditional post-auction detection methods, this approach prevents manipulation in real-time by introducing an economic disincentive system where penalty severity scales with suspicious bidding patterns. The framework employs the proposed Bid Shill Score (BSS) to evaluate nine distinct bidding behaviors, dynamically adjusting the penalty fees to make fraudulent activity financially unaffordable while providing fair competition. The system is implemented within a decentralized English auction on the Ethereum blockchain, demonstrating how smart contracts enforce transparent auction rules without trusted intermediaries. Simulations confirm the effectiveness of the proposed model: the dynamic penalty mechanism reduces the profitability of shill bidding while keeping penalties low for honest bidders. Performance evaluation shows that the system introduces only moderate gas and latency overhead, keeping transaction costs and response times within practical bounds for real-world use. The approach provides a practical method for behaviour-based fraud prevention in decentralised systems where trust cannot be assumed.
We construct an empirically founded model of a repo trade intermediated by two broker-dealers and prove multiple equilibrium and the existence of equilibrium at the joint profit maximizing volume of trade. We then present a smart contract that resolves multiple equilibrium by requiring each broker-dealer to report its client schedule and its minimum hurdle spread, and implementing a selection rule that filters out hurdle-infeasible outcomes. Whenever there exists an equilibrium that exceeds both hurdle spreads, the protocol selects the joint profit maximizing feasible trade and thereby avoids a collapse to no trade. The smart contract is a machine executed algorithm which eliminates the need for trust. Hardware and cryptography are used to prevent leakage of broker-dealer client trade schedules, and to enable privacy-protected auditing with zero-knowledge proofs of the integrity of computations. The outcome can be implemented by a myopic strategy where a broker-dealer truthfully reports its own variables without anticipating its counterparty's reports. This minimizes cognitive and computational complexity, thereby making our smart contract suitable for real-world deployment.
Chrysostomos Apostolidis, Anthony Devine, Abdul Jabbar, YaĹanur KayÄąkçĹ ¡ 5 authors
Purpose Despite the increasing interest of organisations in integrating advanced digital technologies, many digital transformation efforts fail to deliver long-term, sustainable value to the organisations and the stakeholders. Focusing on the impact of Non-Fungible Tokens (NFTs) in the Peer-to-Peer economy, as a case of digital transformation towards Industry 4.0, this conceptual study explores the role of algorithmic and organisational trust as facilitative drivers of sustainable digital transformation. Design/methodology/approach Drawing on Lewinâs change theory model, the study reviews and considers relevant literature on digital transformation, innovation and digital business models to support the development of a conceptual framework that explains the sustainable digital transformation process and explores the role of trust. Findings Drawing on Lewinâs change theory model and technology adoption literature, we reconceptualise digital transformation as a dynamic, non-linear process and identify four key phases in the sustainable digital transformation process (Initiating, Transforming, Re-positioning and Sustaining). We then explain the important role of algorithmic and organisational trust in sustainable digital transformation. Practical implications The study highlights the importance of trust for organisations, and explains how organisations can use blockchain-based technologies as intermediaries who take on the role of trust and the impact this has on the digital transformation process. Originality/value This paper contributes to existing literature on digital transformation in several ways. First, we reconceptualise the digital transformation process as a dynamic, non-linear process and develop a conceptual model for sustainable digital transformation following a âplan-action-result-evaluationâ strategic approach. Second, we argue that there is a relocation of trust, towards technology and organisations, which impacts further upstream in the digital transformation process. This paper integrates the discussion between trust (algorithmic and organisational) and digital transformation, highlighting the need for parallel processes in creating the conditions for a sustainable transformation process.
The article argues for the sociocultural contextualization of Web3 affordances by examining play-to-earn gaming in the Philippines. It first outlines how socioeconomic factors promote blockchain technology and cryptocurrency. Against this background, and based on scholarship in cultural communication, anthropology, and critical platform studies, the article illustrates how sociocultural frames shape the interpretation and enactment of blockchain-based gameplay affordances. A Grounded Theory analysis of interviews and documents reveals that players identify persistent access and ownership as technical affordances, performing them through the cultural frame of cockfighting and its digital economy version, the side hustle. The study challenges universalist notions of Web3 adoption, highlighting how technical affordances both support and disrupt sociocultural and economic reproduction through narratives of family, competition, and inclusivity. The research calls for comparative studies on how platform corporations structure societies in emerging economies, how platforms exploit culture as use value, and how adopters strategically utilize Web3 technologies.
This research explores the developments and challenges in decentralized finance (DeFi) since 2015 and the increasing use of blockchain technology. DeFi provides access to financial services without traditional intermediaries, improving the economic system's efficiency through automated and transparent smart contracts. The bibliometric analysis shows a significant growth in DeFi-related publications, with 1,909 articles identified between 2015 and 2025. The research also highlights the importance of collaboration between authors and stakeholders to build a more secure and sustainable financial ecosystem. Analysis results using VOSviewer identified 173 keywords in 18 clusters, focusing on "digital twin" and "artificial intelligence." This research recommends further exploration into DeFi adoption, blockchain technology innovation, and the application of smart contracts to support the development of an inclusive, efficient, and innovative DeFi ecosystem in the future. In addition, this research aims to bridge existing research gaps and provide deeper insights into the potential of DeFi in the global financial system.
Virginia Springer, Krithika Randhawa, Marin Jovanovic, Paavo Ritala ¡ 5 authors
Industrial business-to-business (B2B) platforms are meta-organizations (i.e., organizations of organizations) that typically integrate digital assets with physical products such as machinery or equipment, often operating in specialized contexts with a limited network of complementors and end users. These characteristics distinguish B2B platforms from their business-to-consumer (B2C) counterparts, as they are defined by distinctive design features and governance drivers. Yet, the current platform literature predominantly focuses on B2C markets, leaving a critical gap in understanding the design and governance of B2B platforms in industrial contexts. We address this gap by adopting a meta-organizational perspective on B2B platforms in industrial markets to examine how the distinct design features of B2B platforms shape their meta-organizational governance. First, we uncover distinctive design features of B2B platforms across three dimensions: platform market, platform architecture, and cyber-physical integration. Building on these features and evidence from the emerging literature, we classify B2B platforms into five dominant archetypes: matchmaker, application marketplace, solution enabler, consortium, and decentralized autonomous platforms. Second, we theorize that the governance of these archetypes is shaped by their design features and revolves around two main dimensions: control rights (i.e., enforcement authority) and decision rights (i.e., autonomy over platform assets). These dimensions underpin distinct governance models, which we label unified, collaborative, regulated, and algorithmic governance. We consolidate these insights into an organizing framework of B2B platform governance and contribute to the literature in four ways: (1) providing a nuanced understanding of B2B platform design and governance, (2) identifying distinct archetypes and developing a framework for B2B platform governance, (3) explaining how B2B platform design features influence governance models, and (4) setting a research agenda to strengthen the design and governance of B2B platforms. By broadening our understanding of platforms as meta-organizations, we advance knowledge of how B2B platforms create and capture value in industrial markets. ⢠We examine the distinct design features of B2B platform governance. ⢠We identify five B2B platform archetypes based on their distinct design features. ⢠B2B meta-organizational governance encompasses unique control and decision rights. ⢠We identify unified, collaborative, regulated, algorithmic governance models. ⢠Each governance model is characterized by different control and decision rights.
Tarek Galal, Valeria Tisch, Katja Assaf, Andreas Polze
Railways provide a critical service and operate under strict regulatory frameworks for implementing changes or upgrades. Despite their impact on the public, these frameworks do not define means or mechanisms for transparency towards the public, leading to reduced trust and complex tracking processes. We analyse the German guideline for railway-infrastructural modifications from proposal to approval, using the guideline as a motivating example for modelling decisions in processes using digital signatures and zero-knowledge proofs. Therein, a verifier can verify that a process was executed correctly by the involved parties and according to specification without learning confidential information such as trade secrets or identities of the participants. We validate our system by applying it to the railway process, demonstrating how it realises various rules, and we evaluate its scalability with increased process complexities. Our solution is not railway-specific but also applicable to other contexts, helping leverage zero-knowledge proofs for public transparency and trust.
Blockchain and smart contracts have emerged as revolutionary technologies transforming distributed computing. While platform evolution and smart contracts' inherent immutability necessitate migrations both across and within chains, migrating the vast amounts of critical data in these contracts while maintaining data integrity and minimizing operational disruption presents a significant challenge. To address these challenges, we present SmartShift, a framework that enables secure and efficient smart contract migrations through intelligent state partitioning and progressive function activation, preserving operational continuity during transitions. Our comprehensive evaluation demonstrates that SmartShift significantly reduces migration downtime while ensuring robust security, establishing a foundation for efficient and secure smart contract migration systems.
In this paper, we examine the discourses and ideologies that underpin trust in Bitcoin (BTC) as an algorithm-driven socio-technical system, raising critical questions about how trust is established and sustained in complex socio-technical assemblages. Through a Critical Discourse Analysis (CDA) of three significant events in the cryptocurrency, we identify two interconnected, yet sometimes contradictory, ideologies enacted through four discourses that construct specific subject positions to produce and maintain trust in Bitcoin. The first, technical sovereignty , reflects adherence to notions of technical utopianism. The second, which we term peer-to-peer neoliberalism , frames BTC as a political experiment rooted in the individualization of responsibility and risk. Our paper contributes to the existing literature by arguing that algorithm-driven technologies like BTC neither establish trust solely through their apparent technical neutrality and security nor simply replace traditional institutional mechanisms of governance, control, and interaction. Instead, they are enacted through discourses and material arrangements that require continuous maintenance. This maintenance relies on power relations enabled by these ideologies yet remains contingent upon the ongoing reinforcement of the ideologies themselvesârendering trust inherently precarious and always at risk. This insight shifts the analytical focus from the dominant emphasis in the literature on technical features, social arrangements, and user perceptions to the underlying ideological frameworks that shape these elements, as such. ⢠We propose an alternative ideological perspective on trust in algorithms. ⢠The methodology is based on critical discourse analysis. ⢠There cannot be trust without the productive force of ideology shaping and maintaining trust. ⢠We identify two ideologies of technical sovereignty and peer-to-peer neoliberalism.
Anuj J. Ghom, Atharv N. Phuse, Harish S. Chopade, Mahesh A. Ghongade ¡ 5 authors
Crowdfunding has emerged as a vital mechanism for raising funds, enabling startups, social causes, and creative projects to receive financial support from a broad audience.However, traditional crowdfunding platforms face challenges such as high transaction fees, lack of transparency, centralized control, and risks of fraud or fund mismanagement.To address these issues, we propose a Blockchain-Based Decentralized Crowdfunding Platform that leverages blockchain technology and smart contracts to enhance security, transparency, and trust in fundraising.By eliminating intermediaries, the system facilitates direct peer-to-peer transactions, ensuring immutability and automated fund distribution based on predefined conditions.This implementation utilizes the Ethereum blockchain to create an environment where fundraisers and backers can interact securely.The paper details the system architecture, smart contract design, security considerations, and a comparative analysis with traditional crowdfunding models.The results demonstrate improved transparency, reduced operational costs, and enhanced trust in the crowdfunding ecosystem.
This paper explores the emerging virtual economy with a specific focus on virtual goods and non-fungible tokens (NFTs), examining their unique market dynamics, social relevance, and factors influencing their valuation. The work delves into the role of social dynamics, user engagement, and speculative investments in determining the prices of virtual goods, while also addressing the speculative risks inherent in this digital marketplace. Through case studies like the Bored Ape Yacht Club (BAYC), stakeholders highlight how exclusivity, celebrity endorsements, and active community participation shape the perceived value of NFTs. This research aims to provide a comprehensive understanding of the value drivers in the NFT market and offer strategies for stakeholders to navigate volatility and achieve long-term success in the digital asset ecosystem.
ABSTRACT Blockchain technology, when combined with smart contracts, enables buyers to distinguish between greenwashed and genuinely ecoâfriendly products. The presence of counterfeit items can severely impact supply chains by diminishing brand value, eroding consumer confidence, and undermining market trust. This article explores how smart contracts can help mitigate the circulation of counterfeit goods and safeguard brands by establishing institutional trust through tamperâproof data, enhanced transparency, and improved traceability. Information asymmetry on digital marketing platforms significantly contributes to the proliferation of greenwashed counterfeit goods. We introduce an infectionâleakage model based on anecdotal case evidence to explain the interactions between different market types. The transition from relying solely on traditional written contracts, certifications, and brands to incorporating blockchain and smart contract technology is analyzed for its potential to strengthen supply chains and curtail the spread of counterfeit greenwashed products. Blockchain technology provides consumers with detailed product information, empowering them to choose authentic green products over counterfeit âlemons.â Our theoretical framework suggests that this shift to blockchain smart contracts can reduce the transaction costs associated with counterfeit infiltration, thereby protecting brands and the intellectual property rights of authentic sustainable products.
In the context of the deep integration of rural revitalization strategy and digital technology, the digital transformation of rural tourism faces threefold dilemmas of efficiency, trust, and cultural preservation. This paper, taking blockchain technology as a starting point, systematically explores the internal logic and practical paths of its empowerment in rural tourism, aiming to construct a "technology-scenario-governance" collaborative framework to resolve structural contradictions in industrial development. The study is based on the Social-Technical Systems Theory (SST), adopting interdisciplinary research methods, and uses typical cases to demonstrate how blockchain technology drives high-quality development in rural tourism by reconstructing production relations. The study finds that blockchain technology, through mechanisms of "trusted data flow" and "autonomous smart contracts," reshapes the power structure, value transfer, and governance models in rural tourism. Its distributed ledger feature solves issues such as data islands and the loss of trust in stakeholders, while its DAO governance and Token economic models activate villagers' participation. The paper also proposes four-dimensional application scenarios covering trusted service chains, value co-creation chains, green governance chains, and inclusive finance chains, achieving the reconstruction of consumption scenarios, cultural IP development, ecological supervision optimization, and investment and financing innovation through technological integration. Furthermore, the paper warns of three major challenges for the technologyâs implementation: the gap between computing power and rural infrastructure, the institutional coupling difficulties between on-chain and off-chain systems, and the conflict between technological rationality and rural ethics. It proposes a "lightweight blockchain + edge computing" technical solution and designs a "multi-party chain governance committee" system to balance the rights and responsibilities of government, enterprises, and villagers, incorporating "ethical coding" into the design of technology to embed rural culture. Future research should focus on the integration of the metaverse, AI, and blockchain technologies, enhancing service personalization while preventing cultural alienation risks, thus providing solutions for rural common prosperity that combine technological innovation with the protection of cultural roots.
Michael Lustenberger, Florian Spychiger, Lukas KĂźng, Jens Martignoni
Abstract The development of Bitcoin and its underlying technology blockchain has enabled a new phenomenon called decentralized autonomous organizations (DAOs). DAOs can be perceived as self-governing organizations whose management is based on programmed and encoded rules on a decentralized and distributed peer-to-peer network. These DAOs typically manage and allocate funds, often in the form of cryptocurrencies. However, in recent years, a variety of DAOs have been established to provide services (e.g., currency exchange, project financing), curate collections (e.g., art collections), or own and manage real assets (e.g., land). Currently, DAO literature focuses mainly on online communities managing digital assets; however, DAOs owning physical properties differ from them in localized communities, asset indivisibility, and additional complexity in collective acquisition, ownership, limited physical capacity, and decentralized governance . Such property-owning DAOs are interesting, because they fuel the transition from purely online organizations into organizations integrating with the physical world. From an organizational system theory perspective this article explores how a DAO owning properties could be designed by exploring three DAO projects that own properties. Applying a conceptual research design , we first identify DAO Design Principles obtained by traditional organizational system theory, followed by examining and describing the core organizational principles for property-owning DAOs. Based on a comprehensive discussion of the conceptual findings, we present a research agenda for further studies on DAOs owning properties.
ABSTRACT Blockchain technologies have catalyzed the rise of decentralized autonomous organizations (DAOs), which operate in an incentive network fueled by crypto tokens. In essence, these tokens are imbued with either payment rights (i.e., transactional tokens) or ownership rights (i.e., governance tokens). The decentralized organizational paradigm dismantles the traditional management structure and bring new research opportunities to Operations Management (OM). While the performance of DAOs has been largely examined in current OM literature, the effectiveness of their internal incentive mechanismsâspecifically the one that uses ownership as rewards to promote user contributionsâremains unclear. Focusing on DAOâenabled virtual communities, we seek to examine whether decentralized ownership provides stronger incentives for user behaviors, such as creation and curation, in comparison to traditional monetary rewards through the lens of psychological ownership theory. We obtained data from Steemit that captures the reward, creation, curation and transaction behaviors of 98,000 users from May 2017 to April 2019. By leveraging the âpowerâupâ action as a shock that increases user ownership shares, we established a quasiâexperimental setting. Employing the PSMâDID model, we found that the use of governance tokens is associated with enhanced creation and curation efforts but declined creation novelty, compared to the use of transactional tokens. Our additional analyses further reveal that the incentive effects of governance tokens diminish over time. However, upon the recurrence of the intended choice, these effects become reinforced. Notably, we find that governance token ownership is more strongly associated with curation efforts for users with weaker social ties. Conversely, for users with high reputation scores, their content creation behaviors are less strongly associated with governance token ownership. This study contributes to the burgeoning discourse on blockchain and cryptocurrency from an operational perspective, providing valuable insights for the design of incentive mechanisms in DAOs and advancing our understanding of operational efficiencies and stakeholder engagement in decentralized structures within Operations Management.
Abstract The integration of Artificial Intelligence (AI) and decentralized economies is redefining wealth distribution by enabling autonomous financial systems, AI-powered smart contracts, and decentralized governance models. AI enhances decentralized finance (DeFi) by optimizing liquidity management, predictive analytics, and risk assessment, making financial services more accessible and inclusive. Through AI-driven tokenized economies, self-sovereign identities (SSIs), and automated economic decision-making, individualsâespecially unbanked populationsâcan participate in global wealth creation without traditional financial barriers. AI-powered Decentralized Autonomous Organizations (DAOs) are further revolutionizing financial governance by ensuring transparent, algorithmic decision-making and equitable wealth allocation. However, challenges such as AI bias, cybersecurity risks, regulatory uncertainties, and scalability limitations must be addressed to build sustainable AI-driven decentralized financial ecosystems. This chapter explores the intersection of AI, blockchain, and decentralized finance, offering insights into how AI is transforming digital trade, financial inclusion, and economic autonomy while shaping a more equitable, decentralized global economy. Keywords AI-driven economies, decentralized finance, DeFi, AI-powered smart contracts, wealth distribution, DAOs, blockchain governance, tokenized economies, financial inclusion, AI in economic decision-making, self-sovereign identities, decentralized marketplaces, economic autonomy, AI-driven wealth redistribution, predictive analytics in finance, AI in decentralized governance.
Decentralized Autonomous Organizations (DAOs) signify a groundbreaking approach to Internet-based management, enabled by blockchain technology and cryptocurrencies, and are viewed as fundamental elements of the Web3 ecosystem. In this study, we delve into the concept of DAOs by thoroughly investigating their underlying structure, ideology, and operational principles. Furthermore, we present a novel DAO framework derived from a technical and organizational assessment and provide an overview of cutting-edge DAO tools currently available. This research enables the swift implementation of DAO creation or transformation customized to an organizationâs specific stage. Additionally, we recognize current challenges and shortcomings in existing DAOs and propose areas for future exploration.
This study explores the global patterns of non-fungible token (NFT) equity funding, focusing on NFTsâ role as a sustainable financial technology (fintech) in promoting the United Nationsâ sustainable development goals (SDGs) as well as entrepreneurship and in balancing business growth with social impact. Utilizing descriptive tools and the Wilcoxon rank-sum (MannâWhitney) test, we analyze global and regional data from 2015 to 2021 to examine NFT funding flows. The results show that funding flows from 2015 to 2021 exhibit notable differences and that funding flows in the United States (US) and Europe differ significantly from those in Latin America and the rest of the world (regions other than the US, Asia, Europe, Latin America, and Canada). Furthermore, using a narrative literature review, we determine that NFT-funded projects support achieving the SDGs (including decent work and economic growth; climate action; peace, justice, and strong institutions; quality education; partnerships for the goals; and industry, innovation, and infrastructure), fighting against hunger and poverty, promoting human well-being, facilitating financial inclusion, and reducing gender gaps, thereby ensuring business growth aligning with social benefits. However, technological barriers, negative environmental impacts, insufficient regulations, unequal benefit distribution, and social distrust may obstruct NFT innovation.
Radu Miron, Mihai Hulea, Vlad MureĹan, Iulia Clitan ¡ 5 authors
As cities evolve into smarter and more connected environments, there is a growing need for innovative solutions to improve urban mobility. This study examines the potential of integrating blockchain technology into passenger transportation systems within smart cities, with a particular emphasis on a blockchain-enabled Mobility-as-a-Service (MaaS) solution. In contrast to traditional technologies, blockchainâs decentralized structure improves data security and guarantees transaction transparency, thus reducing the risk of fraud and errors. The proposed MaaS framework enables seamless collaboration between key transportation stakeholders, promoting more efficient utilization of services like buses, trains, bike-sharing, and ride-hailing. By improving integrated payment and ticketing systems, the solution aims to create a smoother user experience while advancing the urban goals of efficiency, environmental sustainability, and secure data handling. This research evaluates the feasibility of a Hyperledger Fabric-based solution, demonstrating its performance under various load conditions and proposing scalability adjustments based on pilot results. The conclusions indicate that blockchain-enabled MaaS systems have the potential to transform urban mobility. Further exploration into pilot projects and the expansion to freight transportation are needed for an integrated approach to city-wide transport solutions.
Smart contracts powered by blockchain technology are examined in this paper for their possible use in overcoming disputes in freight handling which are part of third-party logistics (3PL) work. Smart contracts and blockchain have taken off in supply chain areas, but their use in 3PL is still mostly untested. To reduce disputes, this research proposes a design with smart contracts that links to key operations in the logistics industry. The research uses simulations of typical freight handling to highlight how programmable contracts can solve problems by using automated checks and automatic steps when particular sections are triggered. According to the findings, smart contracts could greatly improve trust, efficiency and responsibility in 3PL, while helping to solve typical difficulties with punctual payments, missing shipments and keeping up with compliance requirements. With this paper, we create a basic framework for using blockchain-based smart contracts in logistics, detailing the pros, cons and future research opportunities for both logistics and technology.
Chen Ben Tolila, Yarden Hovav, Kiril Danilchenko, Hadassa Daltrophe
ABSTRACT The rising expenses associated with car ownership have driven individuals to seek more affordable alternatives, such as car rentals. However, conventional car rental services often come with high costs due to leasing companies' overhead expenses. Consequently, car sharing has emerged as a popular and costâeffective solution that reduces expenses and promotes ecoâfriendliness by reducing the number of vehicles on the roads. Nonetheless, centralization and reliability remain persistent challenges in carâsharing implementation. To address these issues, we propose a decentralized crowd car sharing and renting platform called CROWDCARLINK, leveraging blockchain technology's power. This innovative platform enables individuals and leasing companies to rent vehicles while securely recording each car's maintenance and lease history on the blockchain. Within CROWDCARLINK, garages are pivotal contributors, adding vehicle information in a reliable and immutable manner. By utilizing blockchain technology, our platform ensures transparency and fosters trust, effectively overcoming the limitations imposed by centralization. Our architectural design incorporates smart contracts, which help streamline processes and facilitate seamless transactions within the platform. To demonstrate the feasibility of our approach, we have developed a prototype utilizing a private Ethereum blockchain with Proof of Authority (PoA) consensus. We believe that the architectural design and the practical solution presented here will play an integral role in shaping the future of smart transportation. Our platform aims to benefit individuals and the environment by offering a costâeffective and efficient solution, paving the way for a more sustainable and advanced transportation ecosystem.
The rise of artificial intelligence (AI) in procurement has transformed how organizations engage with suppliers, optimize spending, and drive contract negotiations. Traditional procurement negotiations rely on human intuition, historical knowledge, and manual research. However, with the advancement of AI-driven Smart Negotiation Assistants, procurement teams can leverage real-time market intelligence, price benchmarks, and predictive analytics to autonomously negotiate contracts. This paper introduces an AI-powered Procurement Chatbot, capable of conducting supplier negotiations with minimal human intervention. The system utilizes machine learning (ML), natural language processing (NLP), and historical transaction data to negotiate terms, secure cost savings, and ensure compliance with procurement policies. Real-world case studies, including automated software licensing negotiations and dynamic supplier pricing adjustments, demonstrate how AI-driven negotiations can save millions in procurement costs, reduce cycle times by up to 40%, and mitigate supplier risks [1]. The paper also explores technical architecture, algorithmic models, and deployment strategies for integrating AI negotiation assistants into enterprise procurement workflows. Furthermore, it highlights regulatory and ethical considerations in AI-driven procurement, emphasizing transparency and fairness. By leveraging AI-driven negotiation chatbots, businesses can achieve autonomous, efficient, and data-driven procurement processes, ensuring better supplier relationships and long-term cost savings.