This study explores the potential of generative AI, specifically large language models (LLMs) and multimodal models (LMMs), to revolutionize generational study within consumer research. It examines how these advanced AI tools can enhance various stages of the research process, from idea generation to reporting.
The ARF Young Pros led an exploration of a new and increasingly prominent discipline of research: Foresight, used by leading global brands to future-proof success and relevance. Panelists from McDonald’s shared insights, best practices and examples of how to embed principles of Foresight into day-to-day work to ensure long-term sustainability and relevance for brands.
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Adopting AI usage into business functions seems to be the new trend, but can it be used to increase efficiency in market research? This study finds that it can help reduce costs and improve speed by automating some aspects of the process. One such way is to use Large Language Models (LLMs) as stand-ins for human survey respondents. The pool of respondents is shrinking. Moreover, the research finds that LLMs can realistically reflect consumer preferences because they have been trained on extensive online data. This process is also a fraction of the cost and time required with conventional methods.
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