There’s no doubt that Artificial Intelligence is already present in many fields and industries as something real and tangible that has entered our lives Although still in an initial phase, experts point out that it will entail a new technological revolution of similar proportions to that of the Internet. But do we really know what it is and how it’s being applied in our industry?

What exactly is AI?

It can be defined as a combination of algorithms whose goal is to create machines with the same capabilities as a human being. And, although all this sounds like science fiction to us, we are already experiencing AI in our daily lives: in virtual voice assistants (like Siri and Alexa), in facial detection used by some smartphones, etc. The ultimate goal of all of these technologies, which attempt to think and act like humans, is to make our lives easier by optimizing processes and tasks.

Furthermore, AI is also promoting the use and growth of Big Data (or Macrodata), due to the large amount of data it’s capable of processing to transform it into advantages at the levels of business, communication and commerce.

Artificial Intelligence in the Market Research Industry

And what about the Market Research Industry? What would be the possible applications of AI? Has this technology already started to be used?

As experts point out, the first steps are already being taken to apply AI in this industry, although the role of (human) researchers -those in charge of reviewing AI-related activities, such as dynamic data tables and insights- remains essential.

Advantages of the application of AI in Market Research

As we said at the beginning, AI is a channel to facilitate the research process… It’s a major breakthrough in simplifying the most repetitive tasks, analyzing large databases, etc. In short, it saves us steps.

One of its most notable advantages is that it can help us not only understand the habits of today’s consumer -what and why they buy what they do- but also to go one step further and try to find out what and why they will buy in the future. This entails analyzing trends in order to understand future consumer habits that will allow companies to anticipate the needs of their clients and consumers.

Here are some clear advantages of incorporating AI in the Market Research industry:

Information is analyzed in real-time: technologies that help researchers gain insight into the results of a study in real-time, without having to wait to collect and analyze the data later. This saves a great deal of time and makes the work much easier.

Processes are automated: AI allows the collection, analysis and systematization of information to provide not data, but tables and dynamic reports, so that researchers can see what changes occur in the results when using one variable or another.

A significant aid when recruiting: there are AI technologies and tools that help us identify those targets that are of interest to us for a particular study; more specific and less general targets that aren’t easy to reach. It saves time and energy, which is why it’s undoubtedly an interesting application.

There’s no doubt that AI will gradually make its way into the Market Research industry as well, as has happened in other areas and industries. It’s a versatile technology that will be an invaluable aid for teams, agencies and companies in approaching and understanding their consumers more quickly, in order to anticipate their interests and preferences.