We are approaching ChatGPT’s 1st birthday (November 30th, 2023), and what a year it has been! Market Research & Insights professionals have seen many changes in the field since its advent, sparking discussions about AI’s influence on the work and careers of research professionals. Is it a bad omen, an innovative upgrade, or does the truth lie somewhere in between?
Instructors Jim Newswanger and Kathryn Korostoff recently discussed the past year of AI in the field as well as its anticipated future in our most recent Conversations episode. Informed by their experiences with multiple AI tools, they covered 10 great topics spanning AI’s current and potential future impact on the entire life cycle of market research projects. For your convenience, we included timestamps so you can jump ahead or follow along!
A Glimpse into the Conversation:
- What’s Happening Now with AI in Market Research? (0:26)
- Jim and Kathryn kick off the discussion by shedding light on the current state of AI implementation in market research practices. What are we, as market researchers, currently doing with AI?
- Saving Time and Enhancing Quality (02:48)
- Dive into the heart of the matter as our instructors discuss how AI can be a time-saving powerhouse while potentially elevating the overall quality of market research projects.
- Utilizing Past Data for Specialized Tools (06:09)
- Explore the possibility of AI harnessing existing market research databases to create specialized Learning Models (LLMs) or tools for more effective data analysis.
- Navigating Ethical and Legal Considerations (10:10)
- A crucial pause to consider the ethical and legal implications surrounding AI in market research, emphasizing the need for responsible implementation.
- We All Know About AI for Text—What About for Images and Sounds? (11:42)
- Witness the potential of AI in analyzing images and sounds, with a glimpse into the future where Generative AI extracts meaningful insights from visual data.
- Enhancing Research Findings with Alternative Summaries (17:45)
- Delve into the discussion on how AI may enhance the quality of research findings and conclusions by generating alternative versions of executive summaries.
- AI-Assisted Questionnaire Programming (24:15)
- Uncover the potential of AI in streamlining the questionnaire programming process, offering more efficient data collection and analysis.
- Synthetic Data and Its Research Applications (26:22)
- Explore AI’s ability to generate synthetic data and its opportunities in research, such as simulating scenarios, testing hypotheses, producing synthetic populations, and more.
- Comparing Generations of AI and Exploring Synergies (30:08)
- Reflect on the evolution of AI, comparing previous generations with the current state of Generative AI and LLMs. Discover the potentially beneficial intersection of AI and Boolean tools.
- New Data Strategies & Organizational Structures (36:50)
- Consider a future scenario where AI disrupts data silos, leading to organizational restructuring. What would this mean for new departments and leadership roles?
Conclusion:
Whether you’re rolling with the AI punches or staying ahead of the curve, this discussion quickly covers key topics that will ultimately determine (or reflect) AI’s impact on the future of market research methods, careers, and overall industry. Please enjoy the full conversation with instructors Kathryn Korostoff and Jim Newswanger, or skip ahead to the parts of greatest interest from the timestamps above. Let’s all get ready for the AI journey!
