12/02/2024 | Press release | Distributed by Public on 12/02/2024 17:37
If there is a market research trend that dominated 2024, it is certainly AI. It's a hot topic that has dominated conferences, and all the top market research companies have released or announced products or capabilities around AI this year.
Of course, AI is not just dominant in research - it is dominant everywhere. Companies like Zoom, for example, have repositioned themselves as AI companies. Even in my role in events marketing, AI is inescapable. Today, I use it for everything from writing invitations to consolidating and summarizing (often extensive) feedback from the events we go to. (And, hey, maybe I also used it to help write or edit this post, too. )
With the rise of AI, we've also seen increased scrutiny for its use. Indeed, research from our sister company Reach3 Insights found that fears around AI have quadrupled in just the last year. And many research teams (including brands working with Rival) have put more effort into vetting AI market research tools.
The level of scrutiny that AI is getting is good for business - and frankly for society. We must adopt AI in a way that protects people's rights to privacy and security. And hopefully, some meaningful discourse on AI can help us as a society to use it for good (and make sure the robots don't overthrow us all one day.)
But while AI faces this intense scrutiny, why isn't the insights industry holding other areas of research to the same standard? That's the question Andrew Reid, our CEO and Founder at Rival Tech, explores in his article for Greenbook: "AI in Market Research Shines a Light on Research Itself."
After years of unwavering reliance on traditional surveys and research methodologies, we've reached a point of failing to keep respondents engaged, or frankly, turning them off before we've even had a chance to glean any meaningful insights. With participants feeling disengaged from the get-go, researchers are inevitably struggling with poor data quality and inauthentic results.
"We know these long, dull surveys lead to data quality nightmares like dropouts, straight-lining, respondent fatigue and more," Andrew writes in the article. "When we scratch the surface, it's clear that the participant experience conundrum goes beyond survey length. There's a level of respect missing, and re-centering our approach on the consumer is how we correct it."
In a world where smartphones and fast-paced interactions dominate, attention spans are limited in a way that the market research industry isn't used to, and clunky, old-school surveys simply don't cut it anymore. Moving toward conversational, mobile-first designs that fit seamlessly into people's lives allows us to meet respondents where they are. Think of it like texting with a friend rather than filling out a form. Andrew notes: "almost everyone would rather have a conversation than take what feels like a test."
The shift to conversational isn't just about convenience; it's about respecting participants' time and improving data quality. Happier respondents mean more honest, thoughtful answers and increased willingness to re-engage in the future.
"If we're smart, the unintended consequences of AI in market research could be us elevating the entire field."
So, where does AI come into all of this? Andrew emphasizes how our insistence on questioning AI should (and is, at Rival Technologies) prompt a deeper reflection into how we approach research in the first place. Andrew poses the challenge: "As we put AI through the ringer for its shortcomings, let's start holding our research to the same standards." The benefit of doing so has huge potential.
As AI continues to reshape the industry, one thing is clear: market research needs to become more intuitive, empathetic, and effective. The goal isn't just better data; it's better connections with the people behind that data. It's about a long-overdue mindset shift. Researchers need to think creatively about how they use their tools to design research that reflects the world as it is today-not how it was 20 years ago.
"If we're smart," Andrew says, "the unintended consequences of AI in market research could be us elevating the entire field."
For a deeper dive into this topic, check out the original article on GreenBook or watch a recording of our webinar on AI.