Defining and Harnessing the Power of Artificial Intelligence
Author: Serena Berrey | Editor: Elizabeth Zuponcic
We hope you enjoy this healthy conversation around the world of Artificial Intelligence in our first article of our three-part series. Join us as we explore from the latest breakthroughs to practical applications, and the many ways AI is shaping our world.
Artificial Intelligence, or AI, is a rapidly growing topic that has the potential to revolutionize many industries and change the world of business as we know it. At its core, AI is the development of computer systems that can perform tasks that would normally require human intelligence, such as visual perception, speech recognition, decision-making, and language translation.
Artificial Intelligence has been a hot topic trending in the media for the past few weeks. The CNET scandal started a controversial uproar around AI after readers learned they were being left in the dark on what was creating their content, the plagurism of stories, and replacing the jobs of humans. Since then, opinions of skepticism, praise, fear, distaste, and curiosity are everywhere. Artificial Intelligence is taking the content, writing, development, and qualitative market research data world by storm. While trying to formulate your own opinion, who better to consult for information than your favorite feedback-gathering qualitative market research firm? We decided to take notes from a few professionals to dive deep into how AI may affect the qualitative market research industry.
The Good and The Bad
The opinion on artificial intelligence varies widely among different individuals and groups. Some people view AI as a powerful tool that can bring about significant benefits in areas such as healthcare, transportation, and manufacturing, while others are more skeptical of its capabilities and potential negative impact on society and employment opportunities. When an Enterprise.NXT survey asked participants if they thought AI was a good thing or not, “the U.S. was almost evenly split on the question, with 47 percent saying the development of AI is a good thing and 44 percent calling it bad, which is within the survey’s margin of error.”
Coincidentally enough, one of the many ways AI is being harnessed in the business world is by collecting and utilizing qualitative market research data. By analyzing copious amounts of data, AI algorithms can identify patterns and trends that would be difficult for human researchers to detect. This can lead to a deeper understanding of consumer behavior and can help companies make more informed decisions about product development and marketing.
For example, depending on the industry, we’ve seen a different acceptance and positivity rate. According to an article by Digital Third Coast highlighting ChatGPT (the latest artificial intelligence platform,) “SEO professionals were the least positive about ChatGPT, at 44% positive, 23% neutral, and 33% negative. PPC professionals, meanwhile, were absolutely thrilled about the potential of ChatGPT, with 58% of them positive, 29% neutral, and only 13% negative; and Digital PR professionals were extremely positive, with 75% positive and 25% neutral towards the AI platform.”
Artificial Intelligence Meets Qualitative Market Research
With qualitative market research, the goal is to gain a deeper understanding of consumer attitudes, behaviors, and preferences, and to identify patterns and trends that can inform business decisions. We do this through effective screening questions, interactions and the analyzation of body language, thoughts, and feelings around a product.
One of the biggest controversies surrounding AI is the question of whether machines can truly be said to possess “intelligence” in the same way that humans do. Some argue that AI systems are nothing more than sophisticated algorithms that can mimic human behavior. In which case, artificial intelligence can aid, but not replace something as complex as collecting qualitative market research data. “Some writers will use it, some will not. But in the end, writers who know both the audience and the subject matter – writers who go deep into topics with research and visuals – will still have plenty of organic traffic. Differentiation matters more than ever.” -Andy Crestodina, Co-Founder & Chief Marketing Officer for Orbit Media Studios, Inc. The Digital Marketing World Reacts to ChatGPT.
Embracing AI with A Positive Outlook
Ultimately, Artificial Intelligence is a rapidly growing field with immense potential to improve our lives, but it is also important to be aware of its potential downsides and to carefully consider the limits of this technology compared to human capabilities. It is important for us to have open and honest conversations about AI and its potential impact on society so that we can ensure that its benefits are distributed fairly, and its negative effects are minimized.
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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. (And yes, this shameless plug was written by a real, passionate Focus Insite employee.)
