The role of artificial Intelligence in market research
BUSINESS INTELLECT
Jaroslav Kaplan
President of the Kaplan Research Company
Founder of the Business IQ project
Jaroslav Kaplan
President of the Kaplan Research Company
Founder of the Business IQ project
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Abstract
In a world where business scenarios constantly change, technology is rapidly evolving, and competition is intensifying, it is critical for companies to quickly adapt and find fresh pathways for business expansion. This article examines how the use of artificial Intelligence as an entrepreneurial assistant can transform traditional approaches to market research, inviting companies to identify new sources of growth.
Keywords:
Artificial Intelligence, market research, category of meaning, context of consumer interaction, co-pilot.
In a world where business scenarios constantly change, technology is rapidly evolving, and competition is intensifying, it is critical for companies to quickly adapt and find fresh pathways for business expansion. This article examines how the use of artificial Intelligence as an entrepreneurial assistant can transform traditional approaches to market research, inviting companies to identify new sources of growth.
Keywords:
Artificial Intelligence, market research, category of meaning, context of consumer interaction, co-pilot.
Traditional market research methods typically require the collection and analysis of extensive amounts of data, which can require significant resources [1]. Applying artificial Intelligence in the co-pilot format in this context can automate and improve data processing, providing companies with timely, personalized recommendations.
Like any process of separating "natural" from "artificial", natural Intelligence and artificial Intelligence have their own evolution and development vectors [2]. At this point, there is no universally accepted definition of the term copilot, but I use it to mean "artificial Intelligence systems designed to support and expand human capabilities."
In the same way that a co-pilot in an airplane assists the captain in flight control and decision making, artificial Intelligence can support entrepreneurs in exploring the market space. An important aspect of the co-pilot idea is the concept of human-machine interaction, in which AI enhances human capabilities but does not eliminate the need for human input.
А. Kaplan and M. Henlein define artificial Intelligence as "the ability of a system to correctly interpret external data, learn from this data, and use this knowledge to achieve specific goals and objectives through flexible adaptation" [3]. [3].
In other words, the result of human-machine AI interaction will be to increase the entrepreneur's understanding and awareness of his or her field of endeavor [4]. It is, indeed, a very worthy goal, especially regarding the mass scale of application of such technologies. Note that the use of AI changes not only business, but also other spheres of human activity, such as education [5].
A required condition for realizing and understanding one's activity, as well as its "digitization", is to understand this activity in a more general context of "right-sizing". In this sense, unreasonableness can be divided into two categories: too wide area of attention and too narrow area of attention. Therefore, the "category of sense" that is successful with consumers is the right- focused area of attention for consumers, just as it is the right-sized context for interacting with them.
To achieve this goal, it is important for the entrepreneur to draw a "boundary" relative to which things "inside meaning" are distinguishable from things "outside meaning."
This area of "outside of meaning" requires separate research and study. In large companies such activities are carried out in separate R&D (Research and Development) departments.
But while it is vital for every business to have such an R&D department, in practice it is rarely found in small to medium sized commercial structures.
The main obstacles here are three factors:
1) there are no core specialists,
2) it is expensive from a financial point of view,
3) it is often unclear what needs to be done from an organizational point of view.
Fortunately, today specialized artificial Intelligence systems co-pilot in the field of market research can help the entrepreneur. The purpose of the activity of such systems will be to help the entrepreneur in the timely discovery of new sources of growth and vectors of organizational development.
As a hypothesis, such AI co-pilots in the field of research could have the following key properties:
These features allow co-pilot AI to effectively assist humans in market analysis, identifying potential sources of growth and providing companies with valuable data for strategic planning.
When customized artificial Intelligence systems are used for market research, all three major problems that hinder the mass formation of R&D departments in small and medium-sized businesses are simultaneously solved.
Due to effective AI algorithms in market research, qualification requirements for employees are reduced, time and financial costs are significantly reduced, and there are a number of new methods and approaches that simplify the implementation of this technology in small and medium-sized businesses.
Like any process of separating "natural" from "artificial", natural Intelligence and artificial Intelligence have their own evolution and development vectors [2]. At this point, there is no universally accepted definition of the term copilot, but I use it to mean "artificial Intelligence systems designed to support and expand human capabilities."
In the same way that a co-pilot in an airplane assists the captain in flight control and decision making, artificial Intelligence can support entrepreneurs in exploring the market space. An important aspect of the co-pilot idea is the concept of human-machine interaction, in which AI enhances human capabilities but does not eliminate the need for human input.
А. Kaplan and M. Henlein define artificial Intelligence as "the ability of a system to correctly interpret external data, learn from this data, and use this knowledge to achieve specific goals and objectives through flexible adaptation" [3]. [3].
In other words, the result of human-machine AI interaction will be to increase the entrepreneur's understanding and awareness of his or her field of endeavor [4]. It is, indeed, a very worthy goal, especially regarding the mass scale of application of such technologies. Note that the use of AI changes not only business, but also other spheres of human activity, such as education [5].
A required condition for realizing and understanding one's activity, as well as its "digitization", is to understand this activity in a more general context of "right-sizing". In this sense, unreasonableness can be divided into two categories: too wide area of attention and too narrow area of attention. Therefore, the "category of sense" that is successful with consumers is the right- focused area of attention for consumers, just as it is the right-sized context for interacting with them.
To achieve this goal, it is important for the entrepreneur to draw a "boundary" relative to which things "inside meaning" are distinguishable from things "outside meaning."
This area of "outside of meaning" requires separate research and study. In large companies such activities are carried out in separate R&D (Research and Development) departments.
But while it is vital for every business to have such an R&D department, in practice it is rarely found in small to medium sized commercial structures.
The main obstacles here are three factors:
1) there are no core specialists,
2) it is expensive from a financial point of view,
3) it is often unclear what needs to be done from an organizational point of view.
Fortunately, today specialized artificial Intelligence systems co-pilot in the field of market research can help the entrepreneur. The purpose of the activity of such systems will be to help the entrepreneur in the timely discovery of new sources of growth and vectors of organizational development.
As a hypothesis, such AI co-pilots in the field of research could have the following key properties:
- Trend analysis and forecasting
- Consumer behavior research
- Competitive analysis
- Market opportunity identification
- Pricing optimization
- Big Data Integration and Analysis
- Personalizing Consumer Recommendations
- Scenario Planning
- Interactive interface and reporting
These features allow co-pilot AI to effectively assist humans in market analysis, identifying potential sources of growth and providing companies with valuable data for strategic planning.
When customized artificial Intelligence systems are used for market research, all three major problems that hinder the mass formation of R&D departments in small and medium-sized businesses are simultaneously solved.
Due to effective AI algorithms in market research, qualification requirements for employees are reduced, time and financial costs are significantly reduced, and there are a number of new methods and approaches that simplify the implementation of this technology in small and medium-sized businesses.
Jaroslav Kaplan
Author of the book "Business Incognita. How to push the boundaries of entrepreneurial thinking". Expert in the field of sustainable development of organizations and discovering new sources of growth. Developer of the methodology of contextual market research. Member of the International Association of Strategic and Competitive Intellect Professionals SCIP (USA).
Blog: https://www.kaplanresearch.pro/eng
In this light (yet profound) business fable a very magical and sincerely nice goldfish, Goshio, navigates her aquarium and the seas of the Paraquarian world beyond. The heroine's journey is an allegory of the entrepreneurial world (and of life) – based on the author's own research journey to circumnavigate the fascinating World of Entrepreneurship. www.goshio.com
Contact:
E-mail: work@kaplan4research.com
Linkedin: www.linkedin.com/in/jaroslavs-kaplans-11255b
Author of the book "Business Incognita. How to push the boundaries of entrepreneurial thinking". Expert in the field of sustainable development of organizations and discovering new sources of growth. Developer of the methodology of contextual market research. Member of the International Association of Strategic and Competitive Intellect Professionals SCIP (USA).
Blog: https://www.kaplanresearch.pro/eng
In this light (yet profound) business fable a very magical and sincerely nice goldfish, Goshio, navigates her aquarium and the seas of the Paraquarian world beyond. The heroine's journey is an allegory of the entrepreneurial world (and of life) – based on the author's own research journey to circumnavigate the fascinating World of Entrepreneurship. www.goshio.com
Contact:
E-mail: work@kaplan4research.com
Linkedin: www.linkedin.com/in/jaroslavs-kaplans-11255b
List of references:
1. Kaplan, J., Business incognita: how to expand the boundaries of entrepreneurial thinking. Moscow: Alpina Publishers. 2022. 256 p.
2. Kaplan J., Gurov F.N., "Business - Intellect" and its role in various types of activity // Values and Meanings. 2023. № 2 (84). P. 125 - 138.
3. Kaplan A., Haenlein M., Siri, Siri, in my hand: who's the fairest in the land? On the interpretations, illustrations, and implications of artificial Intellect // Business Horizons. 2019. No 62 (1). P. 15 - 25.
4. Kaplan, J., Communication in entrepreneurship: the use of artificial Intellect // Communicology. 2023. Vol. 11. No. 2. P. 139 - 147.
5. Gurov F.N., Inozemtseva E.V., Informatization of education: main problems and challenges // Reviewed scientific journal "Trends in the development of science and education". 2022. № 86. P. 27 - 30.
1. Kaplan, J., Business incognita: how to expand the boundaries of entrepreneurial thinking. Moscow: Alpina Publishers. 2022. 256 p.
2. Kaplan J., Gurov F.N., "Business - Intellect" and its role in various types of activity // Values and Meanings. 2023. № 2 (84). P. 125 - 138.
3. Kaplan A., Haenlein M., Siri, Siri, in my hand: who's the fairest in the land? On the interpretations, illustrations, and implications of artificial Intellect // Business Horizons. 2019. No 62 (1). P. 15 - 25.
4. Kaplan, J., Communication in entrepreneurship: the use of artificial Intellect // Communicology. 2023. Vol. 11. No. 2. P. 139 - 147.
5. Gurov F.N., Inozemtseva E.V., Informatization of education: main problems and challenges // Reviewed scientific journal "Trends in the development of science and education". 2022. № 86. P. 27 - 30.
