2 critical challenges the market research industry needs to overcome when using AI

Image supplied. For AI to significantly enhance data analytics and processing capabilities, it requires the nuanced interpretation only human minds can provide says Ipsos global head of product testing Dr Nikolai Reynolds

The role of human insight is indispensable when integrating AI into market research, as for AI to significantly enhance data analytics and processing capabilities, it requires the nuanced interpretation only human minds can provide.

Image supplied. For AI to significantly enhance data analytics and processing capabilities, it requires the nuanced interpretation only human minds can provide says Ipsos global head of product testing Dr Nikolai Reynolds

Artificial Intelligence (AI) hasn’t just transformed our world but is also profoundly affecting market research by revolutionising how companies understand and predict consumer behaviour.

Embedding AI into core data analytics has allowed us to achieve even greater precision in our data analysis, accelerating product development cycles and providing our clients with insights that are not only faster but significantly more robust and actionable.

2 critical challenges

There are two critical challenges that the market research industry needs to overcome when using AI.

- AI 'hallucinations’

A critical challenge in the use of AI within market research is overcoming AI 'hallucinations’.

This phenomenon occurs when AI generates plausible but incorrect or irrelevant data, a common risk when AI operates without sufficient human oversight.

We mitigate these risks by ensuring our AI systems are fed with extensive, diverse data sets and closely monitored and guided by our skilled analysts. This process helps maintain the authenticity and applicability of the insights we generate, ensuring they are deeply rooted in consumer behaviours and cultural contexts.

- Data authenticity and accuracy

Another key area of concern around the AI revolution is data authenticity and accuracy.

There is a need to adapt data tools to specific market contexts. The process involves tailoring AI models to interpret local nuances, such as South Africa’s 11 official languages.

However, it goes beyond simple translation to include idioms, slang and behaviours. This customisation ensures that Ipsos's AI tools accurately capture the authentic sentiments of diverse consumer bases.

To ensure the integrity and cultural relevance of our insights, we rigorously need to validate the AI's outputs. This dual approach of localisation and validation guarantees that our market insights are both accurate and culturally attuned.

Potential inaccuracies are overcome by maintaining the traceability of AI-generated data, ensuring transparency and reliability. These adaptations maintain the relevance and reliability of insights across varied global markets.

What’s clear is that as AI continues to evolve, its integration into market research will transform the industry, enabling faster and more accurate insights into consumer behaviour.

The future of market research lies in leveraging AI to complement and enhance traditional methods, ensuring that insights are not only rapid but also deeply reflective of diverse consumer realities.

Provided by SyndiGate Media Inc. (Syndigate.info).