by MRMW is famous for featuring the leading client voices in the industry across the global conference series. The star-studded closing planel of MRMW APAC 2023 included voices from 3M, Linkedin, Haleon and Pepsico and is one of the most watched sessions of the conference. We are giving you the opportunity to experience it as part of our highlights series! The 2024 conference is coming up on April 17&18 in Singapore – don’t miss it!
Market research in 2023 and beyond: Is it going to be Man vs Machine?
- Why creating the right culture at the organizational level has an impact on the research?
- How do we create a balance between AI, machine, and human intelligence?
- AI: Will it deliver on its promise?
- What role will ChatGPT and Generative AI play in Market Research? Will it enhance creativity or kill it?
- How can we be more human-centered in our approach as insight and research professionals?
Moderator: Michael Waitze, Founder, Asia Tech Podcast & Michael Waitze Media
Panellists: Abhishek Deb, Retail Analytics and Shopper Insights Lead, 3M
Anita Rao Kapur, Head of Insights APAC, LinkedIn
Shawn Roy, APAC Scaled Innovation & Insights Lead, Haleon
Priya Khanna, Senior Director, Consumer Strategy, Insights & Analytics, APAC & ANZ, PepsiCo
You can find all MRMW conference recordings for free in our video section!
Video transcript below (This is an AI generated summary. There may be inaccuracies.)
Market research in 2023 and beyond: Is it going to be Man vs Machine?
The speaker shares a historical anecdote about automating financial reports before leading a panel discussion on the role of humans and machines in market research. The panelists express their opinions on the use of artificial intelligence (AI) and data in decision-making, emphasizing the importance of a balanced approach between human input and machine capabilities. They agree that the combination of human analysis and machine learning is essential for successful market research, as machines can make lives more efficient but humans possess the ability to interpret data, tell stories, and provide deeper human understanding.
The panelists further acknowledge the potential of AI to enhance human work and push individuals to upskill, but also emphasize the importance of maintaining a human touch and emotional connection in interactions. Overall, they predict that market research will belong to both machines and humans, requiring humans to adapt and utilize their unique skills in the age of AI.
- In this section of the YouTube video titled “Market research in 2023 and beyond, Is it going to be Man vs Machine?”, the speaker shares a personal story from 1990 about automating financial reports for traders, suggesting that technology has the potential to make roles more productive and increase income, rather than eliminating jobs. He reflects on how technology has changed but its impact on our lives remains the same, using examples of transportation, written communication, and tax preparation. The panelists are then introduced, and the speaker asks them to share their thoughts on the topic before continuing the discussion.
- In this section of the panel discussion on market research in 2023 and beyond, the participants express their opinions on whether they are pro-human or pro-machine when it comes to utilizing artificial intelligence and data in decision-making processes. While some emphasize the importance of a balanced approach, acknowledging that human input is necessary for efficient analysis, others lean more towards being pro-machine, highlighting the potential for machines to unlock human potential and enhance learning and computing capabilities. Ultimately, the panel agrees that a combination of human and machine is crucial for successful market research.
- In this section, the panelists discuss the relationship between humans and machines in market research. They agree that machines can make our lives more efficient and help us do more evolved work, but they emphasize the importance of human skills in analyzing data and harnessing its meaning. They explain that while machines are backward-focused based on past data, humans are future-focused and can use their power of deduction, analysis, and storytelling to make sense of the information gathered by AI. They also highlight the need for a deeper human understanding of specific target segments and cohorts, especially in low-resource and low-income consumer groups. They conclude that data and technology alone are insufficient without human intervention to interpret the data, answer business questions, and create meaningful insights.
- In this section, the participants discuss the potential of AI and machine learning in the field of market research. They acknowledge that while technology can greatly enhance research capabilities, there is still a need for humans to analyze the implications for different cultures and products. The discussion also touches on the potential risks of automation, such as the displacement of jobs in areas like transcription and dubbing. They emphasize the importance of maintaining a human touch and emotional connection in interactions, as AI cannot fully replicate these aspects. Additionally, they highlight the need for careful training and customization when applying AI to market research, taking into consideration the specific context and data sources.
- In this section, the panelists discuss the importance of human intervention in market research and the capabilities of artificial intelligence (AI). They emphasize the need for responsible usage of AI and acknowledge its potential for enhancing and enabling human work. The panelists argue that throughout history, every time there has been a machine intervention, it has pushed humans to upskill themselves, leading to innovation and improved living standards. They believe that humans have the ability to cope, thrive, and even innovate better with the assistance of AI. However, they also acknowledge the importance of addressing marginalized groups and being human-centric in the implementation of AI. Overall, they express confidence in human capabilities and the potential for AI to facilitate leisure and upskill individuals in market research and strategy careers.
- In this section of the panel discussion on market research in 2023 and beyond, the speakers agree that change is inevitable, and the use of AI will become more prevalent in the next five years. The extent to which we embrace this change is the question at hand. As uncomfortable as it may be, continuing to experiment, build, and learn from AI technology will ultimately lead to better outcomes. The world of market research, like many others, will belong to both machines and storytellers, requiring humans to adapt and utilize their unique skills to create powerful and effective narratives.
