The incursion of artificial intelligence (AI) into the fabric of the business world is akin to a roller coaster: exciting and full of promise that we tend to overestimate in the short term and underestimate in the long term. This phenomenon is evident in research and product development, fields where AI has experienced exponential advancement and revolutionary impact.
In just half a year, the application of AI techniques has exploded, and the number of models used has expanded massively, reflecting rapid adoption and continuous improvement. The implementation of AI is not only booming, but has become a strategic axis for multiple industries, attracting significant investments and its integration into business processes is now unavoidable.
It is essential to integrate human skill with artificial intelligence in research to achieve the maximum potential of both worlds. It is imperative that researchers are involved in every phase of development, from conception and engineering of indications to implementation and analysis of AI results. Human oversight is essential to counteract biases that AI, if not carefully managed, could exacerbate.
In a climate of concern about the quality and authenticity of information, accountability principles have been erected that emphasize privacy, ownership, and data management, underscoring the significance of information lineage. In our era, the provenance of data is as crucial as the data itself, and it is vital to assess how our use impacts the intellectual property of others.
Market research specialists argue that the effectiveness of AI is inseparably linked to data integrity, a critical aspect for training AI models. The conceptual framework of the 6 Rs highlights the importance of Representativeness and Relevance, as well as the need to guarantee reliability.
Synthetic data is emerging as an effective solution to conventional data collection methods, maintaining human oversight as an essential component. Experiments with renowned brands have explored how personification through synthetic data could open new avenues for experimentation and personalization.
The journey of pioneering brands with AI reflects the global experience of the industry: initial optimism, overcoming challenges and subsequent stabilization. AI trials have proven valuable in providing fresh insights into product concepts and consumer opinions, revealing immense untapped potential.
The future of AI in research is promising, and also demands a prudent and thoughtful approach. Diving fervently and dedicatedly into AI is crucial, as is recognizing our limitations and maintaining an insatiable curiosity about its potential. It is vital to apply a rigorous evaluation framework and ensure that human wisdom continues to complement AI capabilities.
Jordi Aymerich Martinez
Main Partner at Hamilton Global Intelligence
November, 2023
