Pearl Strategy and Innovation Design recently attended the webinar hosted by Knit where experts uncover the four biggest areas that AI will reshape within the innovation industry. Here is our take on it.
Summary:
In the ever-evolving landscape of research and innovation, AI is revolutionizing the innovation process, empowering researchers, and reshaping the way insights are generated and communicated.
- Consumer Profiling: Understanding People and Predicting Trends
- AI aids in comprehending consumers as individuals, predicting trends, and responding to both internal and external pressures to innovate.
- By automating the labor-intensive “grunt work”, AI significantly reduces research timelines. This allows the time to ask more questions and dig deeper into analysis, resulting in more well-rounded reports both in quantity and quality.
- Efficiency and Speed: Accelerating Research and Innovation
- Speed and agility are now more critical than ever, and AI plays a pivotal role in automating time-consuming research tasks.
- The innovation process is expedited, transforming weeks or months of research into a matter of hours, enabling quicker adaptation to changing market pressures.
- Better Research Methodologies: Empowering Researchers
- AI empowers researchers to elevate their work, combining rigor and creativity in study design, question formulation, and data analysis.
- AI has the ability to quantify qualitative data. This promotes a more holistic overview of trends and patterns and generates more thorough insights.
- Great Briefs to Drive Communication with Agencies
- AI facilitates collaboration in the research design phase, helping researchers explore different question types and create customizable, collaborative, and back-and-forth research briefs.
- Survey design becomes faster and more innovative, unlocking diverse question types without time constraints or bias.
Implications:
As AI continues to evolve, the future promises even more innovative ways to understand consumers, drive efficiency, and deliver actionable insights, not as a replacement but as a tool that will allow the researcher to do more.
Want more insights, strategy and innovation? connect with us at pearl-strategy.ca or John at johnchan@pearl-strategy.ca
Source: Quirks Virtual, Feb 1, 2023
