How soon will the rapidly evolving AI revolutionize the way we do our work?
Are we on the edge of the new industrial revolution?
How my team and I can use new AI tools in our work?
The first two questions take time to answer. Generative AI will change marketing work. Creating content has never been this easy. Unfortunately, I guess there will be many people abusing it and pushing out a lot of useless, low-quality content with possibly wrong or no information.
How about in the Statzon? Will market research be obsolete now that you can ask anything from AI?
The short answer is "No". Based on educational data, generative AIs can only guess the correct words in the context of your question. However, it still needs the data to form an answer. The first challenge is that, in most cases in market research, it takes work to build an idea of the current market and forecast its development. You need to evaluate the methodology employed, whether the people behind the study are experienced enough, and how well they understand the topic. It is also essential to understand how they define and segment the market.
The second matter for generative AIs like the one available in the Bing chat tool is that they only have access to publicly available data. In market research, you often need data from private sources and interviews. So you still need to find a way to collect this information. Only then can generative AI help you build the body of analysis.
A good example is the evaluation of the AI market size. The growth of OpenAI was unexpected and rapid, exceeding their expectations. Any AI market forecasts done a year or two ago might not be on track. Forecasting how rapidly the market will grow in the coming years is hard. What kind of applications did we find for AI? Rapidly developing capabilities are opening new opportunities in areas where AI was not expected to be useful.
In the future Statzon is planning to use advanced AI solutions and machine learning to help our users get the most reliable answers to their questions. However, there will still be a place for analysts who go through massive amounts of data we have when it comes to new and emerging markets where data is limited. Interpreting data in those cases requires intuition and a seasoned market understanding.
In the past weeks, we have been exploring and following the advancement of AI tools for our marketing and sales or to integrate them as part of Statzon to serve our users. I'm not afraid that development in AI tools will take my job, and I'm excited to see how they will help us to work better.
I'm also confident that AI search engines will not replace Statzon. They can make initial market research much more effortless. When it is time to do deep dive, platforms like Statzon will be valuable, and rapidly evolving LLMs (large language models) can significantly help to digest the information.
The cover image is made with Canva AI image generator, transforming text into an image. My prompt was simple "Create image of generative artificial intelligence."