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Generative AI as a Tool for Market Research
mitsloan.mit.edu/ideas-made-to-matter/generative-ai-a-tool-market-research
MIT Sloan School of Management associate professor John Horton highlights the potential of generative AI in transforming market research. Traditional methods face challenges like declining response rates and lengthy processes. AI can automate data gathering, analyze unstructured data, and simulate human responses, offering cost-effective preliminary insights. Horton emphasizes that AI should complement, not replace, formal research, and recommends iterative testing and ensuring replicability of results. As AI practices mature, it could serve as a valuable tool for preemptive problem-solving and narrowing decision-making options.