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摘要: How AI is transforming market research: faster workflows and synthetic ‘personas’ that mimic humans
Andrea Yu
Special to The Globe and Mail
Published
1 hour ago
Open this photo in gallery:
AI cu...
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How AI is transforming market research: faster workflows and synthetic ‘personas’ that mimic humans
Andrea Yu
Special to The Globe and Mail
Published
1 hour ago
Open this photo in gallery:
AI cuts down the time it takes for researchers to develop survey questions, collect responses and analyze data, meaning clients get answers sooner.
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Addy Graves had been working in market research for over a decade when ChatGPT launched in 2022. While exploring the platform’s capabilities, she wondered: How could AI improve how market research is done?
Traditionally, studies would take at least two months, says Ms. Graves, who previously held positions at Critical Mass and Ipsos Reid. That included time to plan the study, develop a survey platform and questions, gather results, analyze them and create a report.
“It really wasn’t until AI that we were able to automate those workflows,” she says.
In 2023, Ms. Graves co-founded Cashew Research as an end-to-end, AI-enabled digital market research company. AI helps Cashew’s researchers develop online survey questions, collect responses from real humans, analyze data and generate reports. “We’re cutting down the time frame by at least five to six weeks,” Ms. Graves says. “We can turn a study around in a couple of days to a week.”
Companies like Cashew, alongside major players in market research such as Leger and Nielsen, have recently embraced AI to evolve an industry that has largely remained the same for decades.
In addition to speedier results, AI also reduces the human capital required to complete studies. For example, instead of dozens of researchers working on a study, one Cashew researcher can manage 20 customers simultaneously. This allows the company to price their services significantly lower – 60 to 80 per cent less than what traditional market research studies cost.
“Something that was super sophisticated and
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