Our team of Market Logicians headed down to San Antonio, TX last week to attend The Market Research Event, or “TMRE”. As the region’s is the region’s largest Market Research event, it was the perfect place to get a feel for what trends, challenges, and opportunities are impacting this industry.
As this year comes to a close and the conversations about 2023 begin, one thing is on every insights professional’s mind: Artificial Intelligence. Specifically, how will AI reshape the field of consumer insights, and more importantly: when?
Luckily, our Chief Innovation & Product Officer Olaf Lenzmann took the stage on the first day of the conference to answer those questions exactly.
Beyond Knowledge Management: Democratizing Insights with AI
Why do so many insights leaders view AI as the future in the first place? It comes down to the “More-More-Less Dilemma”. As our partner at Colgate Palmolive puts it:
Today, the More-More-Less dilemma limits our ability to impact key business decisions. At Colgate one of our key challenges is the democratization of insights: Right insights, at the right place, at the right time. Too often people spend more time searching for information than working with it.
Christian Niederauer, Colgate-Palmolive
In simple terms? Insights teams are being asked to do more with less. This means that Artificial Intelligence is the obvious choice to take up some of the legwork. Combining AI technology with human expertise frees up your insights and analytics teams from spending all day answering business questions. Instead, they get to do what they do best: generate up-to-the-minute consumer insights that keep your company one step ahead of the competition.
Answering Business Questions with AI
The main problem is that every enterprise has specific ways they categorize, discuss, and name their assets and data. There is not a single “one-size-fits-all” AI solution for consumer insights.
That’s why Market Logic is working with a select few customers to pilot a beta program for answering organizational-specific business questions through an AI-powered engine. This program uses enterprise-specific use cases combined with Natural Language Processing and Domain-specific Training to produce a search tool that is curated specifically for your organization’s insights.
The potential efficiency and cost savings of an AI-powered assistant for business questions are immense, especially considering the exponential rise in the amount of data and insights being produced.
What’s Next?
Want to hear more about the future of Insights with AI? We will have more information to announce Q1 of 2023.
Elsewhere, in the Exhibition Hall of TMRE, the Market Logic team showed why our insights platforms helps you to stop searching and stop leading. It was great to get first-hand reactions to our industry-leading software capabilities: from AI-powered search to full-service research support.
All in all, it was a fantastic event. we can’t wait to share more with you soon!
