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The Good, The Bad, and The AI: A Deeper Look into Artificial Intelligence in Market Research

In Blog, Market Research by admin

Artificial Intelligence and Its Relationship with Humanity: Balancing Progress and Responsibility 

Author: Serena Berrey | Editor: Elizabeth Zuponcic 

We hope you enjoy this healthy conversation around the world of Artificial Intelligence in our third article of our three-part series. Join us as we explore everything from the latest breakthroughs to practical applications, and the many ways AI is shaping our world. 

Market Research shows that Artificial Intelligence is impactfully reshaping the human experience and the most partial question we are asking is this: are we ready for the change it is bringing?  

As our world transforms at a rapid pace, the relationship between humans and AI technology gets complicated. It is changing the way we live, work, and interact with each other. AI has the potential to solve some of the world’s biggest problems, but it also raises serious concerns about the ability to co-exist with humans, society, and life as we know it. In this blog, we will explore the relationship between AI and humanity, AI’s impact on society, and the process of balancing progress and responsibility as it continues to develop.  

The Relationship Between AI and Humanity:

It’s important to broaden our perspective and consider that the relationship between AI and humans is one of complementarity; AI can perform tasks that are tedious or time-consuming for humans, while humans bring unique abilities such as creativity and empathy to the table. In order for AI and humans to work harmoniously, it’s important for AI systems to be designed with human values and ethical considerations in mind. This includes ensuring the privacy and security of personal data, avoiding the creation of biased systems, and transparently explaining how AI models reach their decisions. “While AI outperforms humans in several cognitive tasks, business contexts are complex and changeable, making complete substitution of humans by machines impossible. Moreover, AI reaches its limits when the data is limited, or a clear objective is lacking,” says Sebastian Krakowski from the Stockholm School of Economics.  

In addition, AI systems should be designed to be interpretable and transparent, so that humans can understand and trust the AI results. Collaborative AI, where humans and AI systems work together to solve problems, can also lead to more effective and efficient solutions. This is why it is extremely important for AI systems to be designed in a way that aligns with human values and promotes trust and understanding. It’s important to highlight the capabilities where one system can make up for where the other lacks. 

 
“What makes human intelligence unique is that it is backed by abstract emotions like self-awareness, passion, and motivation that enable humans to accomplish complex cognitive tasks. Human intelligence is not just constricted to a particular pattern but can be changed depending upon the problems that arise with it. It can change substantially with the crux of the situation,” says Pavan Vadapalli, Director of Engineering at UpGrad. This is important to remember when we aim to eradicate fear of artificial intelligence replacing humans all together. 

With that said, it is important to recognize that AI does not always have to be considered a threat to human development, but it does raise concerns that need to be addressed. The development and use of AI must be guided by ethical principles to ensure that it is used for the greater good and that the risks it poses to society and humanity are minimized. “Some people call this artificial intelligence, but the reality is this technology will enhance us. So instead of artificial intelligence, I think we’ll augment our intelligence,” believes Ginni Rometty, former Chairman, President and CEO at IBM. (Bloomberg). 

AI’s Impact on Society

The important distinguishment to remember between artificial intelligence and human intelligence is that AI is based on algorithms and mathematical models, whereas human intelligence is based on the biological structure and processes of the human brain. AI can perform tasks that are typically associated with human intelligence, such as recognizing patterns, making predictions, and learning from experience, but it lacks the flexibility, creativity, and emotional intelligence that are unique to human beings. Additionally, AI operates within the confines of its programming and is not capable of self-awareness, while human intelligence is subjective, self-aware, and capable of conscious thought and introspection. 

“While Human Intelligence aims to adapt to new environments by utilizing a combination of different cognitive processes, Artificial Intelligence aims to build machines that can mimic human behavior and perform human-like actions. The human brain is analogous, but machines are digital” says Vadapalli. If humans and artificial intelligence are able to successfully collaborate, it could mean efficient designation that makes AI valuable to the cohesiveness of business processes for industries such as the market research industry. In a qualitative research study done by Qualtrics titled “How AI Will Reinvent the Market Research Industry,” the vast majority sees artificial intelligence as a valuable addition. “93% of researchers see AI as an industry opportunity and only 7% see it as a threat,” (Qualtrics). With the intention of integrating AI for the efficiency of market research tasks, AI’s popularity is growing steadily.

This is a great opportunity to hand off more repetitive data analysis to AI systems and allow researchers more time to produce creative strategies based off the data findings collected by AI. 

Life As We Know It

While the embracing side sees AI as a way to improve quality of life, boost economic growth, and enhance human potential, the skeptical side sees AI as a threat to jobs, human control, and ethics. As AI continues to advance, it is crucial that we find ways to balance the benefits and risks of AI and ensure that it is used for the greater good.  

According to an article and study published by PewResearch, 18% of participants in the study are more excited than concerned about the advancements of AI, 45% are equally concerned and excited about the increased presence of AI, and 37% are more concerned than excited about AI. The mixture of unsure emotions includes those who are wary about changes that could be harmful to their privacy or their current, comfortable ways of life. 

AI can perform tasks that are typically associated with human intelligence, such as recognizing patterns, making predictions, and learning from experience, but it lacks the flexibility, creativity, and emotional intelligence that are unique to human beings. Additionally, AI operates within the confines of its programming and is not capable of self-awareness, while human intelligence is subjective, self-aware, and capable of conscious thought and introspection. 

AI algorithms are designed to perform specific tasks, such as recognizing patterns in data, making predictions, and automating processes. These tasks can be designed to mimic certain aspects of human behavior, such as speech recognition or decision-making, but AI does not have consciousness or free will. 

The relationship between AI and humanity, AI’s impact on society, and the process of balancing progress and responsibility must be embraced with open minds to achieve endless possibilities. It’s important to remember that AI is an extension of human ingenuity and has been developed to serve humanity! By embracing AI, we can unleash its full potential and reap the benefits that come with it. 

If you value authentic and impactful communication with your consumers and want to collect qualitative market research insight and improve satisfaction, contact our bidding team at [email protected]. No matter your industry, see how market research can benefit your company in a way that helps you implement positive change. We hope you’ve enjoyed our three-part series on “The Good, The Bad, and The AI: A Deeper Look into Artificial Intelligence in Market Research.”