Navigating the AI Wave: Insights from IIEX NA 2024

In the heart of Austin, Texas, at Greenbook's IIEX NA 2024 event, a singular theme took center stage: Artificial Intelligence. It wasn't merely a trend; it was the nucleus of every discussion, signaling a fundamental shift in business paradigms. Across diverse presentations and interactive workshops, AI emerged as the undisputed driver of efficiency, productivity, and strategic recalibration.

Synthetic Data

One of the most intriguing topics revolved around the use of synthetic data, opening doors to groundbreaking advancements in research methodologies. Take, for instance, the concept of survey-boosting. A survey of 435 people can be ‘boosted’ to 500 people, and perhaps statistical significance, with AI. While these additional 65 respondents are synthetic, their responses match at 99.5% accuracy to a comparative control survey of 500 people.

Similarly, query boosting showcased AI's ability to seamlessly integrate additional questions post-survey, ensuring insights remain robust without the need for costly re-engagement. An example of this would be surveying a group of respondents with 100 questions, and then deciding after the fact that there is a need to ask this same group an additional 10 questions. Recontacting and follow up would result in a great expense. AI can be trained on the answers to these 100 questions and can then answer the additional 10 questions for each of the 100 respondents in a way that reflects what each respondent would have said.

Business Operation Transformation

The anecdotes shared by MARS Petcare exemplified AI’s tangible impact on business operations. By leveraging AI to monitor product ratings and reviews, MARS’ insights teams were able to swiftly identify a spike in poor reviews with one of their products and zero in on the key issue. Working alongside their Research & Development team, the packaging issue was resolved quickly, averting potential sales declines and customer defection. This real-time insight underscored the transformative power of AI in proactive problem-solving and customer satisfaction.

Microsoft's illuminating presentation showcased AI's role in revolutionizing traditional engagement formats. By streamlining and enhancing the agility of one-on-one sessions and focus groups, AI promises to redefine the landscape of qualitative research, empowering businesses with deeper, more actionable insights.

GLADYS, Behaviorally’s revolutionary digital qualitative platform, achieves precisely that. By harnessing cutting-edge AI capabilities, GLADYS seamlessly transforms and synthesizes behavioral qualitative data from packaging designs into a dynamic and engaging experience for respondents. More significantly, it empowers brand marketers with instant insights, generating relevant key themes mere moments after each session. To explore GLADYS further, delve into the insights from our recent virtual event available here.

Navigating the Challenges and Opportunities

However, amidst the excitement, there lingered a sense of caution. The rapid proliferation of AI technologies has left many companies grappling with the challenge of vetting potential partners effectively. ESOMAR's unveiling of 20 crucial questions for assessing AI partners shed light on the need for rigorous due diligence in an industry still akin to the ‘wild west’ as it relates to AI. Microsoft's emphasis on data security, IP ownership, and privacy underscored the critical importance of responsible AI implementation.

Yet, amid these challenges, there's a beacon of optimism illuminating the path forward. IIEX NA served as a testament to AI's transformative potential across diverse industries. While the journey ahead may be fraught with challenges and uncertainties, the promise of AI-driven innovation beckons us towards a future where possibilities are limited only by our imagination.

Contact us today to learn more about how our tech-enabled product stack can help you own the most valuable moment in marketing: the purchase transaction.

THE AUTHOR

Peter Cloutier is Director of Growth & Commercial Strategy at Behaviorally, helping to bring marketers the solutions they need to grow conversion to purchase, both in-store and online. Peter brings decades of experience in uncovering actionable consumer and shopper insights, with prior leadership roles at firms including ChaseDesign, Epsilon’s Commerce Agency, and Catapult Marketing.

Connect with him on LinkedIn!