Hollywood’s take on artificial intelligence (AI) — that it will ruin the world as we know it — makes for great movies. But in reality, AI is one of the latest market research trends to get excited about.
Will it change how researchers work? Absolutely. It’s already shaping up to make gathering and analyzing data a whole lot easier, among other things.
To help you prepare for what’s ahead, consider these three ways that AI will influence your day-to-day in the years to come.
AI-generated market reports are poised to replace traditional research methods, according to Forbes. AI can almost instantly scan billions of data points and generate thousands of market reports. What takes analysts months to do, AI can do in minutes.
As market research trends go, AI can be a huge win, saving enormous amounts of time and labor for researchers in every field and industry.
It’s not surprising, then, that Qualtrics’ report How AI Will Reinvent the Industry predicts the following support and analysis jobs are likely to replaced by AI:
The report also notes that 50% of researchers have considered training to protect their jobs from AI, and 12% have considered a job change.
But while certain tasks may be replaced by AI-powered tools, not all researchers are in danger of being out of the job. In particular, those working in qualitative or strategic roles — product managers, VPs of market research, and customer insights managers — will still be needed.
Takeaway: As researchers adapt to using AI to conduct research faster than ever before, their primary role in the future could evolve to become more about quality assurance and strategy, checking AI’s accuracy and making appropriate business decisions based on data.
READ MORE: HubSpot Streamlines Market Research Rewards for Valuable Customer Feedback
While some researchers feel that survey-design tools won’t change much because of AI, natural language generation (NLG) algorithms — like the one used in ChatGPT — will most certainly influence writing processes for all kinds of business purposes, including surveys.
That’s because NLG algorithms can:
That said, 85% of researchers don’t want to hand off writing a survey to AI just yet, according to the Qualtrics report on market research trends.
Takeaway: In the near term, don’t expect AI to write surveys for you. But be on the lookout for built-in tools that can help you craft survey questions more easily.
There’s no question that AI will expand the reach of researchers, giving them many more ways to find the data they need.
In the next few years, expect findings to include more insights from:
Takeaway: AI is expected to expand the size of the market-research industry and change the way insights are captured.
As you can see, AI is one of the most notable market research trends to happen in the last several years. It may not be what Hollywood execs would pitch for their next movie idea, but researchers can certainly expect exciting days ahead.
AI isn’t a part of BHN Rewards … yet. But it can help you automate and simplify rewards for research participants and adapt to all the latest market research trends. Learn more about our integrations here!
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BHN Rewards puts the power of digital rewards to work for marketers, researchers, and HR managers. Don't forget to check out all the great content in our Resources section!
