IIEX North America 2023 has concluded its two-day event from May 24-25 in Austin, Texas. It provided a platform for industry experts and researchers to explore new findings in market research. Our team was thrilled to sponsor the event, connect with researchers from around the world, participate in enlightening sessions, and acquire valuable industry insights. The event highlighted several key insights that shed light on the current state and future prospects of AI in the field. Let’s dive into some of the main points presented from the big topic of discussion from IIEX NA: Artificial Intelligence.
AI Tools Enhance Research:
Generative AI tools were showcased as valuable assets for researchers, aiding in tasks such as generating screening questions for food tests. While these tools save time and effort, they require human intervention to correct mistakes and facilitate continuous learning.
A prime example came from Lorin Drake (Consumer Insights Strategist) of Publix Supermarkets, who utilized ChatGPT to create a questionnaire only for the AI-driven platform to not ask for the respondent’s contact information, a key aspect to questionnaire writing. When the error was pointed out, the AI did apologize and learn from it. In the end though, humans are needed.
The Limitations of Machines:
AI, despite its processing capabilities, still struggles to grasp implicit meanings and contextual nuances. Machines cannot read between the lines effectively, emphasizing the ongoing importance of human researchers in capturing nuanced insights.
Effective Question Prompting:
The way questions are prompted was highlighted as crucial for obtaining accurate and insightful results. Meticulous question design, considering context and respondent perspectives, is essential for successful AI-powered market research.
Michael Lancor (VP) of Procter & Gamble, who prophesied last year that we would all be talking of AI this year – and was right, this time spoke of how the insight’s role will be more important than ever as we are the experts in asking the right questions to get the right answers, we need from the AI technology.
Leveraging AI for Focus Group Discussions:
AI’s ability to generate virtual focus group discussions emerged as a powerful tool. By analyzing large datasets and identifying patterns, AI systems facilitate efficient and valuable insights extraction.
Understanding Skip Logic Patterns:
AI demonstrated its ability to comprehend skip logic patterns, improving survey experiences by tailoring questions based on individual responses. This enhances user engagement and data collection efficiency.
The Rise of Prompt Engineers:
Prompt engineers were identified as a rapidly growing career in market research and with the growth of the use of AI. These professionals specialize in formulating effective prompts for AI systems, enabling successful outcomes and maximizing AI’s potential.
Embracing AI for Competitive Advantage:
The conference emphasized the necessity of embracing AI in market research to avoid falling behind competitors. Organizations and professionals were encouraged to leverage AI’s capabilities to stay ahead in the evolving market landscape.
Caution and Data Privacy:
It was acknowledged that AI technologies are not yet advanced enough to replace human researchers or handle data collection independently. Caution should be exercised when collaborating with machine intelligence to mitigate risks and protect data privacy.
Quality Metrics and Objectivity:
To improve the quality of metrics, eliminating biases and adopting objective approaches were highlighted as essential steps. AI can assist in this endeavor by providing unbiased analysis and insights.
IIEX North America 2023 provided valuable insights into the role of AI in market research. Generative AI tools, effective question prompting, focus group discussions, and understanding how AI will shape the future of market research were among the key takeaways. The conference emphasized the importance of embracing AI to stay competitive, while also highlighting the need for human expertise and caution in leveraging machine intelligence. By harnessing AI’s capabilities and integrating them into market research practices, organizations can unlock new opportunities for insightful analysis and informed decision-making.
THE AUTHOR
Lauren Francis is a Marketing Coordinator at Behaviorally with a passion for branding and consumer behavior. When she’s not working, Lauren enjoys spending time with friends, working out and using her creative side with painting and openness to experiment with her culinary skills.
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