The ability of machines to perform the same tasks as humans through a process of learning from experience, reading qualitative and quantitative data and adjusting to new inputs creates both opportunity and trepidation for participants in many industries.
There is no denying that AI is destined to impact market research. It is having a direct impact on researchers’ ability to automate how data is analysed, how questions are created, how customer behaviour is measured and the ability to predict purchase behaviour and customer intent over time.
AI presents an empowerment opportunity – for researchers who are prepared to embrace it. The goals of AI are to save time, to rethink how we approach research processes, and to give our insight professionals and data scientists more time to analyse data to provide our clients with enhanced value. AI is effectively widening the insight window for researchers to work with the data they collect.
Automation is widely being used to speed up various analysis routes, but AI presents a different advantage: the ability for the analysis program to learn from the data itself. It is in effect the creation of a ‘free-thinking’ research machine. This is what elevates AI from the benefits currently being offered by automation alone.
More time-efficient, more accurate
AI allows us to work towards a more time-efficient and accurate data collection process. With so much useable data being created through AI, the need for experienced data scientists and analysts to transition data into insight continues to grow. It’s why CoreData established a specialist data analytics branch, Janus Analytics, to help businesses by providing customised business intelligence solutions with proven implementation and maintenance.
Many forms of AI, such as Google Cloud Natural Language API, are currently in their infancy, but researchers must soon decide if they are prepared to harness the opportunity and move with the times – or fall behind those who understand and benefit from the new insights and efficiencies that AI brings.