Custom market research has traditionally been slow and costly, often taking months and significant investments, leading marketers to make decisions without timely insights. However, recent advancements in generative AI (gen AI) are revolutionizing the way consumer and market insights are gathered, created, and analyzed, which are crucial for strategic marketing. In our recent Harvard Business Review article, “How Gen AI is Transforming Market Research,” we highlight these transformative effects. Major investment firms, including Andreessen Horowitz and Foundation Capital, have also recognized this potential, predicting that gen AI will significantly impact the $140 billion global market research industry. By leveraging gen AI technologies, marketers can enhance efficiency and gain quicker access to valuable insights, enabling more informed strategic decision-making. This evolution marks a pivotal shift in market research practices, making it more agile and aligned with modern marketing needs.
Source link
