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How to use ChatGPT for market research

The jury is still out, and while I don't think ChatGPT will replace (great) marketers any time soon, I have found that it can be a tremendous "assistant" to marketers. And not just for writing copy—one of my favorite use cases is using ChatGPT for market research.

How to write effective ChatGPT prompts for market research

Before we get into the nitty-gritty of using ChatGPT for market research, here are some important tips to keep in mind as you go.

Get specific. ChatGPT isn't a mind reader. The only way you can get quality results is to tell it exactly what you want (and don't want) it to do. Don't just ask who the target audience is for your industry. Instead, specify the product/service idea you want to get information about, and tell it exactly what you want to know (i.e., their income level, education, gender, location…or something totally different).

Role-play. Tell ChatGPT who it is before starting your market research queries. For example, Natalia Brzezinska , the Marketing and Outreach Manager at PhotoAiD , draws inspiration from marketing leaders like Seth Godin and Brian Dean. When she wants responses that align with the distinctive strategies of these leaders, she simply asks ChatGPT to act like them. And it doesn't have to be a real person: you might, for example, ask ChatGPT to act as an experienced market researcher or research assistant. This gives the tool more context, which results in better outputs.

Keep following up. Let each prompt build up on the one before it. Take a look at how Brian Rhea from JobLens.ai does this in the screenshot below. He uses ChatGPT to "expedite the 'fuzzy front-end' of customer research," and according to Brian, he's able to conduct preliminary jobs-to-be-done (JTBD) research—a job that typically takes weeks to complete—in mere minutes. Notice how he keeps specifying what he wants and doesn't want (e.g., "no introduction or concluding sentences," "use X answer format," "begin the response with 'When I…'"), building on what came before.

Don't rely on it alone. It's best to use ChatGPT at the very early stages of market research, when you're still playing around with an idea. Since ChatGPT doesn't take long to generate responses, you can quickly figure out if the idea you have will fly with your target audience. Once you've determined that it will, it's time to dig in with other resources, like customer reviews , social listening , and survey data .  

Tip: If you prompt ChatGPT with the same information and instructions every time you interact with it—e.g., "act as an experienced market researcher" or "tell me the audience's location, gender, and income level"—use ChatGPT's custom instructions feature to get the chatbot to automatically consider these when every time it generates a response. This way, you don't have to repeat these instructions every time.

4 ChatGPT prompts for market research

ChatGPT's ability to understand (and replicate) natural language can help you get a better understanding of your customers' motivations and sentiments—both of which inform market research. In talking to marketers who use ChatGPT for market research, I learned that they've been using it for all sorts of purposes, but these are the four that popped up the most:

Gathering and presenting publicly available data 

Developing buyer personas 

Identifying competitors

Getting suggestions for how to fill in existing market gaps 

I'm going to use a fictional scenario to demonstrate all this, and offer some suggestions for prompts .

Imagine you're a vegan restaurant in Chicago. You want to start an online delivery program where your customers can order healthy salad bowls via an app and have the food delivered to their doorstep. 

Let's dive in.

1. Gather and present publicly available data 

The first step in market research is to gather data on your demographic. There are many ways to do this, including market research surveys and customer interviews, but ChatGPT can speed up the process for publicly available information.  

Prompt: I want to start an online delivery program where my customers can order salad bowls via an online app and have the food delivered to their homes in Chicago. Act as a market researcher and give me information on the demographics of people most likely to order salads in Chicago—including age groups, income, education, gender, and specific location.

In under 10 seconds, ChatGPT determined that your target audience is young and middle-aged individuals who earn well, are health-conscious, have a good education, and live in affluent areas. There are even suggestions of specific places where you can find your ideal customers. This gives you an idea of the kind of people to focus your marketing efforts on. 

2. Develop buyer personas

Let's build on that answer and ask ChatGPT to develop buyer personas for your business. 

Prompt: Can you create detailed buyer personas for this online delivery program that delivers salad bowls to customers? Provide demographic info, psychographic info, needs, likes, and dislikes.

ChatGPT spit out two buyer personas: Healthy Hannah and Budget-Conscious Ben , complete with insights into their general behaviors and what they want—two things that are crucial in understanding your target market .

They may not be perfect, but they give you an idea of the spectrum your customers might be on. On one hand, there's a high-earner who just wants top-notch salads. On the flip side, you have a low-income person who's trying to get a decent salad, while saving money on food expenses. 

3. Identify competitors

The next step is to identify competitors in your industry. 

Prompt: Can you make a table of the top 5 brands in the food delivery space, their website URLs, Instagram handles, and some important data about each of them?

This table shows that, if you create your own online delivery program, you'd be competing against some of the largest food delivery brands in the world. Now, you're faced with two choices: create your own online delivery app and have only your loyal customers use it, or partner with one (or more) of these food delivery brands to bring your salad bowls to many people, loyal customers or not.

If you can't beat 'em, join 'em.

3. Get suggestions for how to fill in market gaps

Finally, it's time to check if there are any market opportunities for differentiation . After all, you want your online delivery program to have something unique about it. 

Prompt: Are there any market opportunities or unique selling propositions (USPs) that current food delivery brands, like Grubhub, DoorDash, and Deliveroo, don't take advantage of?

I ran this prompt through ChatGPT twice, and (after admitting that it doesn't have real-time data), here's what it came up with. 

While some suggestions overlap in both answers, there are suggestions unique to each response (a good reminder to always run your prompts more than once). Now, you have a bunch of ideas of what to do to set your online delivery program apart from similar brands in the industry.

Get market research insights with ChatGPT

What I did above is just scratching the surface—imagine if I had continued to dig deeper with each answer. 

But remember: you should always support ChatGPT's answers with actual data you gather from speaking to your audience. Not just because it'll give you a more nuanced understanding of your market, but also because ChatGPT hallucinates : it can give you information that might sound reasonable but that's flat-out incorrect.

As you start to integrate ChatGPT into your market research, you can connect it to thousands of other apps , so you can do your research from wherever you spend your time. Or you can use the Zapier ChatGPT plugin to interact with your go-to apps directly from ChatGPT. 

Zapier is the leader in workflow automation—integrating with 6,000+ apps from partners like Google, Salesforce, and Microsoft. Use interfaces, data tables, and logic to build secure, automated systems for your business-critical workflows across your organization's technology stack. Learn more .

Related reading:

The best AI chatbots

ChatGPT vs. Bard: What's the difference?

6 ChatGPT prompts that will generate great sales emails

The best AI marketing tools

How to build a custom version of ChatGPT with OpenAI's GPT builder

How to build an analysis assistant with ChatGPT

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Althea Storm

Althea Storm is a B2B SaaS writer who specializes in creating data-driven content that drives traffic and increases conversions for businesses—small startups and large businesses alike. She has worked with top companies like AdEspresso, HubSpot, and Thinkific. When she's not writing web content, she's curled up in a chair reading a crime thriller or solving a Rubik's cube.

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Can market research be done effectively with a synthetic market?

The study uses GPT-3.5 to examine consumer responses in various scenarios, testing its accuracy in reflecting real-world economic behaviors such as price sensitivity and product preferences. Using both direct and indirect methods, the research gathers data on consumer preferences and willingness to pay for different product attributes. The findings indicate that LLMs like GPT-3.5 can effectively mimic consumer decision-making processes, demonstrating potential as a valuable tool in market research.

The research provides promising insights into the use of LLMs in market research. It showcases the potential of these models to offer cost-effective, efficient alternatives for understanding consumer behavior and preferences. However, it also points out the need for further exploration and refinement in the application of LLMs to ensure accuracy and reliability in market research settings.

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ChatGPT in Market Research: A Definitive Guide

Market research has historically relied on human judgment, intuition, and analysis. Today, tools available to researchers have evolved, promising more accuracy, depth, and speed.

Top of that list of evolving tools is artificial intelligence (AI), with its tantalizing prospects and considerable challenges. And amidst this backdrop, ChatGPT.

However, the interplay between artificial intelligence (AI) and market research has always been filled with potential, and challenged with pitfalls. In an age where data-driven decision-making has become the norm, the allure of integrating AI into market research processes has grown exponentially.

Voxpopme and ChatGPT seek to address the historical challenges and meet the unique needs of market researchers. In this guide, you’ll see the transformative role that this technological collaboration plays in the world of market research, how you can master it, and more…

• Why AI didn’t feel right for market researchers until now
• What makes ChatGPT different from “AI”

How content bridges market researchers and ChatGPT

How researchers at fortune 500 brands are using chatgpt.

• 33 Effective ChatGPT prompts you can use to master AI in market research

We’ve also put this extensive guide into one PDF you can reference anytime you want.

Download The Market Researcher’s Guide to ChatGPT ebook.

For market researchers, AI comes with baggage

Historically, AI’s promise for market research and insights professionals has been clouded by 5 misgivings, which collectively eroded the industry’s trust for anything related to artificial intelligence (AI):

1. Statistical analysis was called AI

Traditional statistical methods were sometimes branded as AI, leading to a muddling or confusion of terms.

While statistics are methodical and produced the sentiment of analytic rigor, displaying statistics alone lacked the “evolutionary learning” facet of what research professionals expected from AI.

2. Advanced math was called AI

Pattern recognition algorithms, no matter how sophisticated, were often mistaken for AI. This overreach led to disappointment when they didn’t deliver on the AI promise, particularly on the generative facet of what research professionals were expecting from AI.

3. “AI” was non-interactive

Earlier AI models often resembled one-way, lecture sessions — they provided insights but lacked an interactive Q&A feature, leaving researchers with potential queries unanswered.

Even worse, most AI experiences didn’t give researchers the opportunity to query the data set with a question. AI just processed the data, made broad assumptions on the researcher’s insights objectives/goals, then provided a response based on its assumptions on the researcher’s objectives/goals.

In short, early versions of “AI” lacked the interactive elements available in today’s AI, and didn’t allow researchers to cross-examine AI with follow-up questions and queries.

4. Black-box syndrome

In the past, many AI tools didn’t reveal their inner workings or analytical models. Without clarity on how they derived insights, researchers couldn’t fully trust and understand the tools.

This opacity was a significant impediment to widespread AI adoption in market research, particularly because researchers want to know the underlying reasoning behind how insights were generated.

5. All the marketing hype from tech providers

Driven by competitive fervor, technology firms servicing the research industry often over-marketed or oversold the capabilities of their AI tools. When these tools under-delivered on researcher’s expectations, it contributed to an atmosphere of skepticism, hesitation, and distrust.

As we move forward, recognizing these pitfalls will shape an AI-driven future that aligns with the actual needs and expectations of the research community.

What makes ChatGPT different from “AI”?

“AI”—in the sense as we’ve experienced it before now—could display one or more of the aching misconceptions above. But ChatGPT shows promise. It’s a revolutionary tool that combines four components to redefine market research:

1. User experience

One of ChatGPT’s crowning achievements is its user-centric design. By making AI interaction intuitive, it democratized access to advanced data analysis.

As OpenAI’s Founder said:

“It wasn’t the underlying model that mattered, it was the usability of it. Both the reinforcement learning from human feedback (RLHF) and the interface.” — Sam Altman

2. Processing power

Complex analytical models analyzing vast repositories of unstructured research data requires last amounts of processing power.

Serving as the stack’s engine, cloud providers like Microsoft Azure ensure that rapid data processing is possible and that ChatGPT can provide users with timely feedback.

3. Technical capabilities and use cases

ChatGPT’s analytical models are more than just algorithms; they represent the culmination of cutting-edge research and development in artificial intelligence.

These models serve as the discerning brain of the system, adept at navigating vast content repositories and extracting meaningful insights from them.

Here’s a brief dive into how these capabilities translate into practical use cases:

Content creation

Based on the researcher’s objective, Voxpopme’s AI Insights (powered by ChatGPT) automatically generates survey questions and answers banks.

Summarization

You can pinpoint key findings from vast datasets of unstructured, qualitative data such as video survey feedback .

Code generation

For market researchers who rely on custom software tools or scripts to process and analyze data, ChatGPT’s code generation feature is a game-changer.

By simply describing their requirements, researchers can obtain snippets of code tailored to their needs, streamlining the data analysis process.

Chat and semantic search

Search functions allow market researchers to find, cross-examine, and query their data repository—giving insights a higher level of accessibility and depth.

Theme, entity and sentiment

Automatic sentiment evaluation, theme extraction, and relevance determination enrich the quality of Voxpopme AI Insights ’ responses to a researcher’s query.

At its core, the power of artificial intelligence and ChatGPT comes mostly from the content it has access to. In ChatGPT’s publicly available version, its vast repository enables a richness in insights, allowing for varied responses based on wide-ranging data.

And in proprietary instances of ChatGPT, market researchers are using it to analyze large repositories of unstructured research data to discover insights.

Despite AI’s current capabilities, 70% of organizations are only exploring the realm of generative AI but not fully committing. This shows many are yet to realize practical use cases for the technology.

Why? To realize these benefits, you need vast content repositories. Already, this content repositories are available to research and insights teams. If you can accurately analyze them (with AI), they can unveil a multitude of practical benefits.

Take a look at the bare mechanics of Voxpopme AI Insights: It takes input (content made of unstructured qualitative data) to produce an output (insights).

Let’s dig deeper into the crucial role that access to content and data—balanced with tight control over user access to the platforms that process the data—plays in enhancing the efficacy of products like Voxpopme AI Insights.

Foundation of learning

Voxpopme AI Insights relies on diverse, large datasets for better learning and accuracy, mirroring the fundamental principle of AI and ML models.

Security and privacy

Market researchers value security and privacy in managing their data repositories; hence, access to Voxpopme AI Insights needs strict control to ensure the integrity and ownership of the data.

Breadth and depth of knowledge

The extensive underlying dataset of Voxpopme AI Insights enriches its knowledge base, enabling a wide understanding of various research projects and facilitating insights across multiple use cases.

Quality and precision

The quality of responses from Voxpopme AI Insights is directly tied to the quality of the data it’s been trained on. Fresh, diverse, and high-quality data contribute to accurate and contextually relevant insights.

Enhancing complex tasks

Beyond answering questions, Voxpopme AI Insights assists in complex tasks like predictive analytics and strategy formulation for go-to-market and positioning, leveraging insights derived from multiple research projects.

Contextual understanding

Voxpopme AI Insights, through analyzing previous interactions or related content, can better understand the researcher’s intent, making interactions smoother and more meaningful, showcasing the importance of context in conversational engagements.

Content and data are the foundation upon which tools can learn, adapt, and evolve. Without content and data, it is like a library devoid of books—structurally existent but functionally empty.

As Voxpopme continues to shape the future of market research , the importance of data access will only grow, making it paramount for market researchers and businesses to prioritize quality data acquisition, management, and security.

In an era where understanding consumer sentiment is pivotal for brand success, Fortune 500 companies are turning to AI to gain a competitive edge.

Voxpopme, with its innovative applications Smart SurvAI and AI Insights, powered by OpenAI’s ChatGPT, is at the forefront of this evolution.

Here’s how researchers at leading brands are leveraging these tools to optimize their market research endeavors:

Applying ChatGPT’s components using qual content housed in Voxpopme

Market researchers often use Voxpopme to run video surveys, resulting in many hours of video feedback. Going through all this video to find important insights for business decisions usually takes a lot of time and effort.

But with tools like Smart SurvAI and AI Insights in Voxpopme, powered by OpenAI’s ChatGPT, this task becomes much quicker and easier. These tools help researchers launch survey projects and sift through the video content faster, finding the insights they need in much less time.

Generate goal-based survey questions

By integrating ChatGPT, SurvAI simplifies ‌creating engaging video surveys tailored to the researchers’ objectives. They simply input their goals into Smart SurvAI, which then proposes three questions to kickstart the survey creation. 

Researchers can then use, edit, or omit these suggestions, ensuring the survey aligns with their objectives while saving a lot of time.

By reducing the time spent on question creation, researchers can channel their focus towards deriving meaningful insights from consumer responses. This AI-assistance in drafting questions also mitigates potential bias, paving the way for more accurate and insightful responses.

Key insights in minutes

Voxpopme’s AI Insights tool speeds up the usual process of understanding video survey feedback like never before. It works 60 times faster than going at it yourself, helping researchers quickly move from gathering data to making sense of it, which helps in making decisions on time.

Interact with their research repositories

The AI Insights tool lets researchers have a back-and-forth with their data, almost like having a conversation. They can ask questions, get helpful hints, and dig into their data through a simple chat. This makes looking through customer feedback easy and full of discoveries.

Generate follow-up research projects

Once researchers have initial findings, it suggests follow-up questions for subsequent research projects, enabling researchers to deepen their understanding of consumer sentiments. This feature accelerates the iterative research process, helping brands stay updated with market trends.

Create competitive advantages (security and privacy)

Keeping data safe and private is really important in market research. Voxpopme makes sure researchers completely own their data while keeping it secure. This safe space helps create special insights, giving an edge to brands like Airbnb, Pepsico, McDonald’s, and Microsoft in their markets.

In super competitive markets, understanding what consumers want and quickly adapting to market changes is key. By having ChatGPT in Voxpopme’s toolkit, big brands are moving towards a future where they make smart decisions quickly by understanding what people say in video feedback, encouraging new ideas and faster strategic decisions.

Effective ChatGPT prompts within Voxpopme

Optimizing the insights you generate involves crafting precise prompts. Depending on the study type, these prompts can range from demographic comparisons, consumer needs assessments, product positioning evaluations, to competitive analyses.

For instance, for Target Consumer Studies, prompts like “How do Millennials and Gen X differ in their views on eco-friendly products?” can provide layered insights, while for Product Positioning Studies, questions like “How do respondents describe our latest smartphone model?” can help brands refine their messaging.

Below is a guide of prompts that you can use to generate insights for specific research objectives.

Prompts based on type of insight/project

Chatgpt prompts for foresight studies.

A foresights research project aims to anticipate future trends, events, and possibilities, helping organizations prepare for and shape the future through informed decision-making.

Here are some prompts you can use to support these research objectives:

• What desires or needs, in relation to our product or service, will occur in the next three years?
• Which emerging technologies or innovations are mentioned in this project? How will these influence our product’s utility or relevance?
• How do consumers see our product fitting into their lifestyle in the next five years?
• What challenges or barriers might deter consumers from choosing our product over competitors in the forthcoming years?
• What new product features or enhancements will be critical to maintain our market position?

ChatGPT prompts for target consumer studies

A target consumer research study seeks to profile and understand a specific segment of the market, delving into their broader demographics, income levels, preferences and behaviors to influence go-to-market approaches.

Here are some prompts you can use to support a Target Consumer research project:

• Based on the demographic information, can you find different groups or cohorts that have differing views?
• How do Millennials and Gen X differ in their feelings towards (insert topic)?
• What are commonalities across all demographics in this study?
• Are there any patterns or trends in the responses, and what do they reveal about the population being studied?
• What do (insert demographic) think about this topic vs (insert demographic)?
• What does the study say is the relationship between (variable A) and (variable B)?

ChatGPT prompts for consumer need studies

A consumer needs/wants study aims to understand more specifics around consumers’ needs, preferences, and behaviors, gauge their perception of products or brands, and derive insights to further refine marketing strategies.

• What does this study tell us about consumer needs around (topic)?
• Based on the study’s results, describe the perfect (product) that consumers want?
• What specific challenges or problems did respondents encounter when [activity]?
• Show me respondents describing a situation where they felt dissatisfied or frustrated with [product/service]? What caused these feelings?

ChatGPT prompts for product positioning and messaging studies

A product positioning and messaging study aims to determine how a product is perceived, identify its unique value, and craft compelling messages that resonate with the target audience. And depending on the questions asked in the research project, it can also be used to identify competitive dynamics.

Here are prompts you can use to support a Product Positioning and Messaging study:

• How do the study’s respondents describe [product/service]?
• What unique value or benefits do respondents associate with [product/service] compared to similar offerings in the market?
• Based on the study’s results, describe the ideal customer profile for [product/service].

ChatGPT prompts for price and demand optimization studies

A pricing and optimization study seeks to assess how pricing and promotions affect consumer decisions, pinpoint optimal price points, and gauge potential demand shifts based on varied pricing strategies.

Here are prompts you can use to support these research objectives:

• How does the current price of the product/service influence respondents’ purchasing decisions?
• Are there any specific price points mentioned in the study that would affect the purchase of [product/service]? What factors contribute to that decision?
• How would changes in the price of [product/service] impact demand for it?

ChatGPT prompts for competitive research studies

A competitive research study aims to identify key competitors, assess their strengths and weaknesses, and uncover strategic opportunities to gain a competitive edge in the market.

Here are prompts you can use to support a Competitive Research project:

• What competitors of [company] are mentioned in this study?
• What do the findings say our competitors do better than [company]?
• What is [company] doing better than our competitors?

Get quant insights from qual studies

A research initiative focused on converting unstructured qualitative findings into structured quantitative outcomes aims to harness the depth of narrative insights, making them accessible and interpretable in a numerical format.

This transformation allows for enhanced statistical analysis, trend identification, and more objective comparisons, bridging the gap between in-depth qualitative exploration and data-driven, quantitative decision-making.

Here are prompts you can use to convert qualitative research data into quantitative insights:

• Imagine this study is a quant study. Generate me some quant results from the findings
• What quant results from this study are most surprising?
• What quant results from this study summarize its main insights?

Executive summaries

Executive summaries serve as a concise overview of the research findings, encapsulating the key insights, recommendations, and conclusions drawn from the data.

The primary goal is to provide stakeholders with a quick, digestible snapshot of the research outcomes, enabling informed decision-making.

Here are some prompts that can aid researchers in crafting compelling executive summaries:

• Summarize the top three insights from this study.
• What are the key takeaways from the responses regarding [product/service]?
• What strategic actions do the study insights suggest we should take?
• Are there recurring themes in the feedback that indicate a market trend?
• Based on the study, how do we stand against our competitors?
• Provide a summary of consumer sentiments towards our brand as revealed in the study.

To Learn More…

Voxpopme Platform + ChatGPT = AI Insights. That’s what you get when you combine analytical models with large data repositories, and merge processing power with an interactive interface. A potent tool for market researchers to work through complex qualitative research data and extract insights in record time.

Make your work smarter. Learn more about how you can use ChatGPT’s power to analyze and extract insights from your qual data with Voxpopme.

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Chat GPT, the Open AI’s latest offering, has made its way into the top tech talks, and it isn’t coming slow. Reaching millions of users in the first few days of its launch, Chat GPT raised a bar for all its competitors. Users from across the world have been utilizing it for all sorts of tasks. But the question remains- Can we use Chat GPT for market research ? If yes, then how?

This article has everything that you need to know about using ChatGPT for Market Research..!

ChatGPT in Market Research

Market Research is a method of seeking data and information about customer preferences to make more informed decisions. Unlike the traditional research processes, Chat GPT brings in the exemplified conversational AI that aids the research activities with quick facts and numbers. Here’s how you can use ChatGPT for market research.

1. Puts NLP in Practice 

Natural Language Processing or NLP is the ability of the computer to understand spoken and written human language, simply put. Chat GPT fairly accepts and processes NLP that helps researchers work on the data easily. Unlike complex codes in programming languages, it eliminates the need for manual data entry or cleaning. It gives an instant push to the market research process, providing great insights into customer preferences.

2. Automates Data Analysis 

Free from the hassles of running codes, Chat GPT can work smoothly for data analysis with more accuracy than humans. It not only saves time but reduces the risk of human error. Researchers simply have to prepare a relevant prompt, and the AI chatbot furnishes the details in no time. This, if used sincerely, can serve huge benefits in market research.

3. Generate Virtual Assistants

ChatGPT is not limited to answering pre-research queries. It can also help develop chatbots and virtual assistants for market research. They can be personalized to gather customer data, analyze surveys and provide insights into customer behavior and preferences. Moreover, chatbots and virtual assistants can be integrated into systems according to the requirements and are cost-effective.

4. Predictive Modelling

When it comes to predictive analysis , Chat GPT can use time series forecasting or classification models in the marketing research process. It can analyze large chunks of data to let companies make more informed market decisions in the future. This way, the companies can stay a step ahead and updated with the current customer needs and preferences.

5. Efficient Processes

To enhance the customer experience, Chat GPT for research can save businesses time and resources by tackling multiple queries at a time. It allows for improving customer service by spending lesser time on a single query and directing the businesses to spend more time on priority tasks. Therefore, accuracy and efficiency can be achieved simultaneously.

How to Use Chat GPT in Market Research: An Example

We decided to test the viability of ChatGPT or GPT-4 for market research process by creating a hypothetical business example. Assuming a solopreneur looking to start an online organic beauty chain for teens, let’s explore the responses at each step of market research. 

1. Establishing the Fundamentals of Business Data

Prompt: I want to start an online organic beauty line for teenagers (age group: 13-19 years) residing in London. I am looking for specific information about their demography, both residents and foreigners. Act as a marketing research assistant and furnish all the information about the teenagers residing in London.

Comments: Here, we can notice that Chat GPT was able to fetch the required facts and figures to give an overview of the beauty trends in the United Kingdom. Moreover, it added the TikTok influence to solidify the statement about teenagers being interested in beauty products. We guess it’s a great point to begin our business!

2. Identifying the Relevant Competitors

Prompt: Can you please name ten or more brands that target teenage skincare in the UK? Research and share the relevant D2C brands, big or small. Also, show details about their market share and their popularity amongst the target audience.

Comments: It is important to note that since we asked for the market share for small businesses in the beauty line, Chat GPT couldn’t fetch the data due to privacy reasons. However, it gave a good outline of our existing competitors, which otherwise would have been time-consuming research.

3. In-Depth Competitor Research

Prompt: Can you disseminate more information about the competitor brands? Share their website URL, Instagram handles, and some key details about their brand values.

Comments: A point worth noting here is that Chat GPT repeated the brand introductions, which may, at times, overwhelm the researchers, and they often lose patience. Nonetheless, the query would have been addressed better if we had framed it better. A brand value, however, can prove to be a strong point for our case!

4. Building Audience Persona

Prompt: Okay! Also, can you build an audience persona using the following information: Demographic information, Preferences, likes and dislikes, and psychographic information? You can be as detailed as you want.

Comments: It is as much crucial to know about your audience as it is to know about your competitors. Investigating what your target audience wants is a huge component of market research, and Chat GPT brings it to us in a blink of an eye. It provided a piece of detailed information which can be a great cue to improve our business idea. 

5. Small but Big Details about Product Design

Prompt: What can I do to make my products stand out from competitors? What specific areas should I focus on in product differentiation?

Comments: We see Chat GPT can serve some beneficial product differentiation ideas to amp up the businesses. At least, it is smart enough to present some major points which can aid researchers in the further development of the product.

Key Takeaways

Chat GPT’s ability to understand and process NLP makes it a more convenient and time-saving choice for most researchers. The responses are not extraordinary but a good Kickstarter to the market research process. Our examples can be considered as a very basic overview of how the Chat GPT can be employed in market research and used to gain consumer insights. Now that you know how to proceed, HAPPY GPT-ing!

Related Articles: How to Use ChatGPT 4 For Free? How to Use ChatGPT API in Python? AI Chatbots: ChatGPT vs. Bing vs. Bard

ChatGPT for Market Research – FAQs

How can i optimize chat gpt responses.

Well, the best way to receive optimized Chat GPT queries is to frame the prompts. You can have everything on your plate, but you still need to extend your hand to take the plate. As a human being with 10x more intelligence than the AI chatbot, it is on you to put your questions wisely. The more cogently and precisely you send queries, the more optimized answer you will receive through Chat GPT.

Will it be okay to rely on Chat GPT for market research?

An AI bot is a man-made offering that has been trained extensively to give out the best results. However, it would not be advisable to rely solely on Chat GPT. No matter how attractive it may look, it is bound to produce more errors. For excellent results, traditional practices must be coupled with AI. For example, you can fetch basic information or data using Chat GPT and later use credible resources (like papers, articles, reviews, etc.) to fuel your market research process.

What are some limitations of Chat GPT in market research?

One of the major pitfalls of Chat GPT is that it is trained on limited data. Since market dynamics change every minute, the AI bot may not be able to provide up-to-date information. As a researcher, you must be vigilant and updated about the latest developments in the market. Moreover, at times, Chat GPT may struggle to interpret the exact context of the query, which may result in an irrelevant response.

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AI-Powered Funnel with ChatGPT: Market Research and Competitor Displacement

June 7th, 2023

Picture this: you’re a marketer in the roaring 2020s, and the digital landscape is a wild frontier of possibilities. The buzzword on everyone’s lips? Artificial Intelligence (AI). It’s not just a sci-fi dream anymore; it’s here, and it’s changing the game.

According to a Gartner study, organisations that use AI in their marketing will move 75% of their staff from production to strategic activities by 2025 . That means more innovation, more efficiency, and broader reach.

Now imagine having an AI-powered funnel you can use to research customer behaviour, discover competitor insights, and target potential customers in a single platform. Not only that, but AI can also help you with keyword research, personalised content creation, and optimisation of campaigns to ensure maximum customer engagement.

This is just one example of how AI technology can change marketing for the better. That’s not just a small step for a marketer, but a giant leap for the industry.

And who’s leading the charge in this brave new world? Enter ChatGPT.

TL;DR: 7 Ways to Use ChatGPT in Market Research & Competitor Displacement

• Analyse Top Search Results : Gain a deeper understanding of what type of content ranks well for your targeted query.
• Create Buyer Personas : Analyse reviews and feedback, helping to build accurate buyer personas for yourself or your competitors.
• Find Competing Businesses : Describe competing businesses and their products, providing valuable insights in seconds.
• Report on Competitor Activities : Keep track of competitor updates to get a better understanding of their strategy and objectives.
• Analyse Website Performance: See how your competitors’ websites are performing in terms of page speed and keyword optimisation.
• Customer Review Analysis : Gain insights into your competitors’ strengths and weaknesses by analysing their customer reviews using ChatGPT.
• Analyse PPC Ad Copy : Understand your competitors’ value propositions by analysing their ad copy.

Exploring the Ever-Expanding Universe of ChatGPT

ChatGPT is not just another AI tool, it’s a powerful ally for marketers.

ChatGPT is an AI developed by OpenAI, a leading artificial intelligence company. It combines natural language processing, machine learning, and deep learning to provide users with an AI-powered assistant to help them with tasks such as content creation, research, and analysis.

Using ChatGPT,  you can quickly create personalised content that resonates with your customers. They can also optimise campaigns for maximum engagement from a wide variety of channels with much greater efficiency. According to Sortlist, 32% of employees using ChatGPT see a productivity increase of 25-50% , while 33% of employers see a slightly higher boost, 66%.

And ChatGPT’s potential is only beginning to be explored. With the right combination of strategy and technology, ChatGPT can help transform the way businesses communicate with their customers.

Here are some ways ChatGPT can be used in marketing:

The Power of AI in Marketing Funnels

Why are AI-powered marketing funnels such a big deal?

As mentioned earlier, they enable you to optimise  processes and save time, which increases efficiency and productivity. They can also provide valuable insights into customer behaviour, allowing for more personalised and relevant interactions. This in turn leads to higher conversions and improved ROI.

As per McKinsey, 95% of commercial leaders are already implementing generative AI , such as ChatGPT, in their workflows – or are planning to do so. Below you can also see a chart of the impact AI has on their marketing strategy.

This means, that if you don’t want to stay behind, you need to start adapting now . Luckily, we have the perfect tips to get you started on the right track.

Building an AI-Powered Funnel with ChatGPT

To build an efficient ChatGPT-powered AI funnel, follow these steps:

• Identify Your Marketing Goals : Define clear, measurable objectives for your AI funnel, such as increasing brand visibility, elevating conversion rates, or enhancing customer loyalty.
• Understand Your Audience : Pinpoint your target audience and understand their needs, preferences, and challenges. If you struggle with this step, scroll down to access the ChatGPT prompt below to help you automate buyer persona research.
• Generate Content with ChatGPT : Deploy ChatGPT to produce compelling content that guides your audience through your funnel, such as blogs, social media posts, email newsletters, or PPC campaigns ( read our guide to ChatGPT for PPC here ). Let ChatGPT evaluate your content against competitors, fill gaps, generate audience-specific content, and integrate your offerings.
• Integrate AI in Customer Service : Consider implementing an AI chatbot, like Algomo , using the GPT-4 API to bolster your customer service.
• Monitor Performance : Regularly assess the performance of your content, ensuring it is reaching and engaging your target audience, and meeting your marketing goals. Use these insights to refine your strategy.
• Adapt Your Strategy : Be ready to modify your strategy based on performance data. Marketing is an evolving field, and flexibility is key. You can easily analyse your data sets by using ChatGPT. 

Tip: For analysing tables, paste your data in markdown so ChatGPT can better understand it. 

Market Research with ChatGPT

Traditional market research can be expensive and time-consuming, with techniques like interviews, surveys, focus groups, and market reports costing substantial amounts.

For instance, traditional market reports can cost anywhere from $15,000 to $35,000, depending on the size and scope, making them inaccessible to many product teams. Plus, they often can’t handle the vast scale of data available today, making them less effective. 

Thankfully, by using AI-powered funnels and ChatGPT, product teams can access the same insights in a much more affordable and scalable way. 

So, how can you use ChatGPT to make better product decisions? Let’s explore the examples below.

*The prompts below require you to have access to ChatGPT Plus with plugins enabled . The plugins used in the steps below include:

• SEO CORE AI
• Keyword Explorer
• Competitor PPC Ads

Analyse Top Search Results And Prepare a Detailed Report

Use WebPilot to find top 5 articles that talk about [TOPIC].

Next, use VoxScripts to find 3 most viewed videos about [TOPIC].

Finally, write a detailed report on the most used keywords in both the articles and the videos, most used NLP terms, key topics, all questions that appeared in the articles, the tone of voice used in the articles, the targeted persona in the articles. You can use tables.

This report will help you identify popular industry topics and the most commonly asked questions. With these findings, you can produce content centred on those topics to enhance SEO optimisation and improve your website or product.

To begin, I used WebPilot to search for the top 5 articles about the topic. The results included a variety of sources including news aggregators, blogs, and industry websites. After reviewing each article’s content and relevance to the topic, ChatGPT compiled a list of popular keywords or phrases used in those articles. 

Create Buyer Personas Based on Your (Or Your Competitor’s) Reviews

Using WebPilot, scrape the reviews of [COMPETITOR 1], [COMPETITOR 2], [COMPETITOR 3] on TrustPilot. Create 3-4 detailed buyer personas based on the information gathered.

Using the insights gained from these reviews, you can create buyer personas for each competitor. These personas will usually be problem-driven and solution-aware, allowing you to better understand the needs of your target audience from the middle and bottom of the marketing funnel.

First, I asked ChatGPT to generate 3-4 buyer personas for each competitor. Each persona included the primary motivation for choosing the respective product, key pain points, and features they’d like to see in the product. You can then use these personas to map out potential customer journeys and target advertising campaigns based on customer needs. Additionally, you can use this data to refine your messaging so it resonates with the right people.

Find Competing Businesses And Describe Their Product In a Matter of Seconds

Using WebPilot, find 3 sellers of [PRODUCT]. Visit their product pages and summarise the key features of their products, as well as their value proposition. (*for marketing solutions, you can replace WebPilot with ChatSpot)

This report will help you quickly summarise the key features and value proposition of 3 sellers’ products. You can then easily compare these products side-by-side against your own, to help you determine if your product needs improvement or messaging needs changing.

Using WebPilot, I quickly located the top 3 most popular (*in search results) sellers of the product in question. ChatGPT then visited their respective product pages to find information about each seller’s value proposition (e.g. cost savings, free shipping) as well as a detailed breakdown of their offerings (e.g. features, hosting capabilities). You can use this information to get a quick overview of each competitor’s messaging and positioning on the market.

Checkmate: Mastering Competitor Displacement with AI

According to RedSearch, 64% of brands use AI marketing tools to stay ahead of competitors . But there’s more to winning than having the right technology. It takes strategic thinking and creative tactics to stay successful in a competitive market.

To win at displacement, you need to know your competitors and the landscape they inhabit. This means assessing their strengths and weaknesses, and understanding their current objectives and tactics. Knowing how to react quickly to changes in the environment is also key.

ChatGPT can help analyse your competitors’ position, customer feedback, and marketing campaigns. Here’s what it can do for you:

Keep an Eye on Your Competitors and Save Time on Manual Browsing

Report on the latest news from [COMPETITOR]. Summarise your findings and provide links to the source.

This report will be especially helpful if you’re part of a small marketing team with limited resources. It will save you from manually browsing for competitor news, which can take a great deal of time. You’ll be able to stay informed on what your competitors are up to while staying focused on more critical tasks. This is essential in staying ahead in today’s competitive market.

For this task, I enabled searching with Bing. ChatGPT then searched and reported on the latest news from my chosen competitor. It found the latest articles and stories related to their operations, products, services, and strategies. The results were summarised with links to the source.

Analyse the SEO performance of [COMPETITOR] with SEO CORE AI. Present your findings in a detailed report. Then, return 5 keywords that [COMPETITOR] ranks for in SERP. For each keyword, using Keyword Explorer, find 3 related queries.

You can use this prompt to audit your competitors’ websites and compare them against your own. It’ll come in handy at the strategising stage of a competitor displacement campaign.

I asked ChatGPT to analyse the SEO performance of Hubspot.com. After a few seconds, I received a detailed report featuring a variety of metrics such as website structure, page speed, and SEO-optimisation analysis to identify areas for improvement. This report contains a lot of data that can be used both to spy on your competitors, as well to quickly audit the performance of your own website.

Analyse Your Competitors’ Customer Reviews to Explore Their Strengths and Weaknesses

Using WebPilot, scrape the reviews of [COMPETITOR 1], [COMPETITOR 2], and [COMPETITOR 3]  on TrustPilot. Analyse the pros and cons of every solution.

In this report, ChatGPT analysed customer reviews from TrustPilot for 3 chosen competitors and summarised them in an easy-to-follow format. It provides an overview of the positives and negatives of each company, revealing their strengths and weaknesses.

By studying customer sentiment across all competitors, you can find out what works for them and where they need to improve. This will enable you to identify areas where you could improve your own product offering and gain a competitive edge.

Analyse Your Competitors’ PPC Ad Copy to Learn About Their Value Proposition

Using WebPilot find the top 3 [PRODUCT TYPE]. Using Competitor PPC Ads plugin analyse their PPC campaigns. Provide 3 examples of the PPC copy that these companies use.

ChatGPT quickly identified the top 3 competitors for the chosen product type. Using the Competitor PPC Ads plugin, ChatGPT analysed their PPC campaigns to provide the keyword and examples of copy used in their ads.

Analysing your competitors’ PPC ad copy can provide valuable insights into their value proposition. It will give you an idea of what they are trying to communicate, what message resonates with their target audience, and how they position themselves in the market. This will help you craft your own PPC campaigns to ensure they are effective and successful. 

The Future of Marketing is AI-Powered

As we look to the future, one thing is clear: the world of marketing is becoming increasingly AI-powered. Tools like ChatGPT are not just improving efficiency; they’re providing strategic insights that can drive business growth.

So, whether you’re a seasoned marketer or a newbie just starting out, it’s time to embrace AI. Because in the world of marketing, the future is now.

Request a demo or pricing information for Lunio to discover how you can harness the power of AI to boost your marketing efficiency.

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ChatGPT: Overview of implications in market research

Published on February 14, 2023 by Abhishek Bhatia

Since its launch in November 2022, OpenAI’s ChatGPT has taken the world by storm. It breached 1 million users within one week of its launch – a record. Unsurprisingly, every sector is scrutinising the advantages this conversational artificial intelligence (AI) tool can bring to its business.

Let’s explore ChatGPT and how it can revolutionise the market research industry.

What is ChatGPT

ChatGPT (Chat Generative Pre-trained Transformer) is a large language model trained on a massive collection of text data. It combines NLP (natural language processing) and machine learning to generate human-like text, keep track of the context and provide relevant information based on the input received.

ChatGPT uses the primary techniques of deep learning, which include supervised learning and reinforced learning from human feedback. This enables the tool to analyse and use a user’s previous response to generate its next response.

OpenAI’s explanation of ChatGPT methodology

The goal of ChatGPT is to provide a conversational AI system that can generate informative, engaging and contextually relevant text.

ChatGPT in market research

ChatGPT, given its ability to understand the context and provide relevant information, could prove to be a valuable resource to collect, analyse and understand market trends. Some key benefits of the tool are its ability to streamline existing processes, collect qualitative data through conversational surveys, analyse and extract information from large amounts of unstructured data and provide valuable market intelligence , and save significant time and effort of researchers.

Acuity Knowledge Partners recently surveyed 115 senior market researchers globally on ChatGPT and its implications in the market research industry. 45% respondents said ChatGPT would have a deep positive impact on the industry, while 36% were currently exploring and following up on ChatGPT, but they expected its use to increase in the coming years. Survey findings also revealed ChatGPT should influence market research. But many aspects need to be factored to make traditional market research more effective. We expect an increasing number of market research companies to explore ChatGPT and how positively it may affect their market research processes.

Use cases of ChatGPT in market research

Some common use cases of ChatGPT in market research are as follows:

Chatbot surveys: ChatGPT can be used to develop conversational and smart surveys for gathering customer feedback and insights. This allows for more natural and engaging data collection compared to traditional surveys.

Customer segmentation: ChatGPT can be used to categorise customer data based on the responses.

Trend analysis: ChatGPT can be used to analyse large amounts of customer feedback, social media posts and other unstructured data sources to identify trends in customer sentiment and behaviour.

Sentiment analysis: ChatGPT can be used to analyse customer feedback and determine the overall sentiment towards a brand, product or service, providing valuable insights into market research and customer relationship management .

Text classification: ChatGPT can be used to categorise customer feedback and other unstructured data by specific themes, such as product features, customer service and marketing efforts, improving the analysis and understanding of customer needs and preferences.

Customer service: ChatGPT can be integrated into customer service chatbots, providing a more personalised and engaging customer support experience while gathering valuable customer feedback and insights.

Applications in market research

ChatGPT has numerous applications in market research (both quantitative and qualitative).

Applications in quantitative research

Text data analysis: ChatGPT can process and analyse large amounts of text data, such as customer reviews or survey responses, to help gain insights into patterns and trends.

NLP tasks: It can perform NLP tasks, such as text classification, sentiment analysis and entity extraction, to support quantitative research .

Data augmentation: The tool can generate synthetic data to supplement limited data sets in quantitative research.

Predictive modelling: ChatGPT can be used as a feature in predictive models, such as time series forecasting or classification models, to improve the accuracy of forecasts.

Data summarisation: It can summarise long texts, such as research papers, news articles or reports, thereby assisting researchers in quickly gaining insights from large amounts of information.

Applications in qualitative research

Open-ended surveys: ChatGPT can be used to design and conduct open-ended surveys. It can then analyse and categorise the responses, providing valuable insights into customer attitudes, opinions and preferences.

Focus groups: It can be integrated into virtual focus groups, where customers can participate in real-time, text-based discussions on products, services or experiences. It can then analyse and categorise a discussion, providing valuable insights into customer opinions and feedback.

In-depth interviews: The tool can be used to conduct in-depth interviews with customers, where open-ended questions are asked to gather in-depth feedback and insights. It can then analyse and categorise the responses, providing valuable insights into customer attitudes, opinions and preferences.

Social media analysis: ChatGPT can be used to analyse and categorise customer feedback and opinions on social media, providing valuable insights into customer sentiment and behaviour.

Customer feedback analysis: It can be used to analyse customer feedback and categorise it into specific themes, such as product features, customer service and marketing efforts, providing valuable insights into customer needs and preferences.

Content analysis: ChatGPT can be used to analyse large amounts of unstructured data, such as customer feedback and customer service logs, providing valuable insights into customer attitudes, opinions and preferences.

Limitations of ChatGPT

ChatGPT has the potential to improve the market research processes exponentially. Having said that, it would be sensible to understand its pitfalls, which include the following:

Lack of expertise: The model does not have specialised knowledge in market research and may not always provide accurate information.

Limited data: It has been trained on a limited amount of market research data and may not always provide up-to-date information.

Contextual issues: ChatGPT may struggle to understand the nuances and complexities of market research and the industries being researched.

Bias: The tool has been trained on a corpus of text that may contain biases and stereotypes, which can influence its answers in market research.

Lack of interpretation: The model can provide data-driven answers, but it lacks the ability to interpret or provide strategic recommendations based on the data.

Ethical concerns: There are ethical concerns around the use of AI models in market research, such as privacy and data security, that need to be addressed before ChatGPT can be used for market research.

Lack of symbol-representation system: The language model lacks a symbol-representation system, leading to the possibility that it would mistake and manipulate symbols as language instead of their own symbolic meaning, potentially leading to arithmetic mistakes.

In conclusion, ChatGPT is all set to revolutionise the way market research is conducted. As this technology evolves and matures, it will likely become an increasingly lethal weapon for market research companies looking to gain a competitive edge.

However, ChatGPT is not a substitute for human expertise and creativity. Thus, researchers need to take a more holistic approach and ensure its conjunction with human interpretations and other tools to make more informed decisions and gain better insights.

How Acuity Knowledge Partners can help

As a leading provider of high-value research, analytics and business intelligence, Acuity Knowledge Partners offers a full suite of  market research services . We started using AI in survey analytics to extract sentiments and deep dive into digital conversations using social media and verbatim survey responses. We plan to take significant strides in this space and follow a well-researched approach founded on our two decades of experience in the market research domain.

ChatGPT: Optimizing Language Models for Dialogue (openai.com)

ChatGPT Market Research (sisinternational.com)

The future of market research is here: Introducing ChatGPT (audiense.com)

ChatGPT Statistics for 2023: Comprehensive Facts and Data (demandsage.com)

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About the Author

Abhishek Bhatia

Abhishek has more than 18 years of experience in market research, consulting and data analytics. He is an expert in market research and project management. Abhishek leads multiple large client engagements and key strategic projects. He was instrumental in setting up and expanding our primary research business.

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Working Paper

Using GPT for Market Research

The Role of AI in Market Research

Artificial intelligence (AI) is no longer a concept of the future – it’s here, and it’s already making its mark in various industries, including market research. As per the research by Statista, it only took 5 days for an AI tool like ChatGPT to reach a 1 million user base.

The market research involves the use of advanced machine learning algorithms, natural language processing, and other AI technologies to gather, analyze, and interpret data on consumer behavior, preferences, and trends.

AI in market research can be used in several ways, such as automating the collection and analysis of data, identifying patterns and trends, and generating insights that help businesses make data-driven decisions . It can also be used to create personalized and engaging experiences for consumers, leading to increased customer satisfaction and loyalty.

As AI continues to evolve, it is expected to play an even more significant role in market research. With the help of artificial intelligence and market research tools like Chat GPT, businesses can gain a deeper understanding of their customers, create better products, and stay ahead of the competition. However, many businesses like to work with companies that provide quantitative market research services combined with the expertise of AI tools. It provides them with better and faster insights and leaves little or no room for errors.

Advantages of Using AI in Consumer Research

AI in consumer research offers numerous advantages that can help businesses save time, money, and resources while gaining valuable insights. Some of these advantages include:

AI-driven tools like Chat GPT can process and analyze large amounts of data at incredible speeds, providing businesses with real-time insights that help them make quick decisions.

AI-powered algorithms can identify patterns and trends with unparalleled accuracy, ensuring that businesses have reliable information to base their decisions on.

Cost-effectiveness

By automating several market research tasks, AI can save businesses time and money that would have otherwise been spent on manual data collection and analysis .

Scalability

AI tools can easily handle increased volumes of data, allowing businesses to expand their market research efforts without significant investments in additional resources.

Personalization

AI in consumer research can help businesses create personalized marketing campaigns and customer experiences, leading to increased engagement, satisfaction, and loyalty.

With these advantages, it’s clear that AI is poised to revolutionize the way businesses conduct consumer research.

How Chat GPT Can Transform Data Research with AI

Chat GPT is an AI-powered tool that can significantly enhance data research with AI. By leveraging its advanced machine learning capabilities, Chat GPT can:

Analyze Vast Amounts of Data

Chat GPT can process and analyze large datasets, providing businesses with valuable insights into consumer behavior, preferences, and trends.

Generate Meaningful Insights

By identifying patterns and trends in data, Chat GPT can generate actionable insights that businesses can use to make informed decisions about their products or services.

Streamline Data Collection

Chat GPT can automate data collection processes, saving businesses time and resources that would have been spent on manual data gathering .

Create Engaging Customer Experiences

By understanding natural language and context, Chat GPT can be used to create personalized and engaging customer interactions, leading to increased satisfaction and loyalty.

Optimize Marketing Efforts

Chat GPT can help businesses identify the most effective marketing strategies by analyzing consumer behavior and preferences, allowing them to create targeted campaigns that resonate with their audience.

Implementing Chat GPT in your market research strategy can lead to significant improvements in the speed, accuracy, and effectiveness of your research efforts. However, mastering the art of Chat GPT for market research requires careful planning and execution. Here are some tips to help you get started.

Implementing Chat GPT in Your Market Research Strategy

To get the most out of Chat GPT, you need to approach its implementation strategically. Here are some steps to help you integrate Chat GPT into your market research strategy.

Define Your Research Goals

Before embarking on any market research project, it’s essential to define your goals and objectives. What do you hope to achieve through your research? Whether you want to use it for quantitative market research or for qualitative research. Defining your research goals will help you determine how Chat GPT can best support your efforts.

Identify Your Data Sources

Once you’ve defined your research goals, the next step is to identify the data sources you’ll be using. This could include customer feedback, social media data, sales data, website analytics, and more. Chat GPT can help you process and analyze these data sources quickly and efficiently.

Choose the Right Chat GPT Tool

There are several Chat GPT tools available on the market, each with its own strengths and weaknesses. Before choosing a tool, consider factors such as ease of use, customization options, and pricing. It’s also important to ensure that the tool you choose aligns with your research goals.

Train Your Chat GPT Model

Once you’ve selected a Chat GPT tool, you’ll need to train it to recognize and analyze your data. This involves feeding your data into the tool and fine-tuning the algorithms to generate accurate insights. The more data you feed into the tool, the more accurate its insights will be.

Interpret And Act on The Insights

Chat GPT can generate a wealth of insights into consumer behavior and preferences. However, it’s up to you to interpret these insights and take action based on them. Use the insights to inform your product development, marketing strategies, and customer engagement efforts.

By following these steps, you can effectively integrate Chat GPT into your market research strategy and unlock valuable insights into your target audience.

Tips for Mastering the Art of Chat GPT for Market Research

While implementing Chat GPT in your market research strategy can be a game-changer, mastering the technology takes time and effort. Here are some tips to help you get the most out of Chat GPT for market research.

Understand the Limitations

While Chat GPT can generate valuable insights, it’s important to understand its limitations. Chat GPT is only as good as the data fed into it, and its insights can be influenced by biases in the data. It’s also important to keep in mind that Chat GPT is not a replacement for human analysis and interpretation.

Fine-tune Your Data Inputs

Chat GPT’s accuracy depends on the quality of data fed into it. Therefore, it’s crucial to fine-tune your data inputs to ensure that the insights generated are accurate and relevant. This involves selecting the right data sources and cleaning and organizing the data before feeding it into the tool.

Train Your Chat GPT Model Regularly

Chat GPT’s algorithms need to be trained regularly to ensure that they stay up-to-date with the latest trends and patterns in consumer behavior. Regular training can help improve the accuracy of insights generated and ensure that your research efforts are aligned with the latest market trends .

Stay up-to-date With The Latest Chat GPT Trends

Chat GPT is a rapidly evolving technology, and it’s essential to stay up-to-date with the latest trends and developments. Follow industry blogs and attend conferences and webinars to stay informed and ensure that you’re using the latest tools and techniques.

Partner With Experts

Partnering with market research experts who have experience with Chat GPT can help you get the most out of this technology. They can help you fine-tune your data inputs, train your Chat GPT model, and interpret the insights generated to inform your business decisions.

By following these tips, you can master the art of Chat GPT for market research and unlock valuable insights into your target audience.

Embracing the Future of AI in Market Research

As businesses strive to stay ahead of the competition, AI in market research will become increasingly important. Chat GPT offers a powerful tool for businesses looking to gain insights into their target audience quickly and efficiently. However, mastering the art of Chat GPT for market research requires careful planning, execution, and ongoing training

With the help of an expert big market research company that excels in market research and uses all the cutting-edge AI tools, you can understand your customers in a better way. Large research and consulting companies can make use of the professional data collection services provided by Insights Opinion , a rising global leader in research outsourcing. Our commitment and excitement to successfully complete the tasks given to us have contributed significantly to our rapid global expansion into more than 100 nations.

Embrace the future of AI in market research and get in touch with the experts at Insights Opinion to know more about market research and business growth with research.

Q.1 Can I rely solely on ChatGPT for market research?

Ans: ChatGPT is a great tool, however, you will need the help of big market research firms as they will guide you on the right way of market research and will help you define your research goals. Combined with the efficacy of ChatGPT and market research, you can ensure business growth and the correct customer data.

As a language model, Chat GPT can assist in generating insights and predictions based on the data you input. By analyzing trends and patterns in your data, Chat GPT can provide valuable information to aid in making informed business decisions.

Q. 2 Is Chat GPT easy to use for market research?

Ans: Yes, Chat GPT is designed to be user-friendly and intuitive. Simply input your data and let the model do the rest. The results will be displayed in a clear and concise format, making it easy to interpret and act upon.

Q. 3 How accurate are the results provided by Chat GPT for market research?

Ans: The accuracy of Chat GPT’s results will depend on the quality and relevance of the data input. However, as a highly advanced language model, Chat GPT has been shown to provide highly accurate insights and predictions.

Q. 4 Can Chat GPT be used for both qualitative and quantitative market research?

Ans: Yes, Chat GPT can be used for both qualitative and quantitative research. It can analyze text-based data such as customer feedback or social media posts, as well as numerical data such as sales figures and customer demographics.

• Tags ai in consumer research , ai in market research , ai market research , artificial intelligence and market research , chat gpt for market research , data research with ai

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• Posted on November 2, 2023

Insightful Prompts: Crafting Market Research Queries with ChatGPT

In the ever-evolving world of market research, the ability to ask the right questions is paramount. But what if we told you that an AI could help you craft those perfect queries? Welcome to the future of market research with ChatGPT. This powerful language model , developed by OpenAI, is revolutionizing the way we conduct market research, one insightful prompt at a time.

Imagine this: You’re sitting at your desk, sifting through piles of data, trying to formulate the perfect questions for your next market research survey. The clock is ticking, and the pressure is mounting. Suddenly, you remember ChatGPT. With a few keystrokes, you’re able to generate a list of precise, targeted questions that hit the nail on the head.

This isn’t a distant dream, but a reality that many researchers are already living. In this blog post, we’ll explore how you can leverage ChatGPT to craft insightful market research queries, saving you time and effort while maximizing the effectiveness of your research. So, buckle up and get ready to dive into the world of AI-powered market research.

Understanding Market Research

Let’s kick things off by getting on the same page about what market research really is. In a nutshell, market research is like a treasure hunt. It’s all about digging deep into the minds of your customers to uncover golden nuggets of information.

Think about it. You’re on a mission to discover what makes your customers tick. What do they want? What do they need? What problems are they facing? And most importantly, how can your product or service solve those problems?

But here’s the kicker: just like a treasure hunt, market research isn’t a walk in the park. It requires careful planning, strategic thinking, and a whole lot of patience. And that’s where ChatGPT comes into play.

With its ability to generate insightful prompts, ChatGPT is like your personal guide on this treasure hunt. It helps you ask the right questions, so you can uncover the most valuable insights.

So, are you ready to embark on this exciting journey of discovery? Let’s dive in and explore how you can leverage ChatGPT to supercharge your market research efforts.

Role of ChatGPT in Market Research

Now, let’s talk about the star of the show: ChatGPT. You might be wondering, “What’s so special about this AI, and how does it fit into the market research puzzle?” Well, let me tell you, it’s a game-changer.

ChatGPT is like your personal assistant, but on steroids. It’s designed to understand and generate human-like text, making it a powerful tool for crafting market research queries.

Here’s the deal: Crafting the perfect market research query is an art. It’s about asking the right questions, in the right way, to get the insights you need. And that’s where ChatGPT shines. It can generate a wide range of queries, from simple, straightforward questions to complex, multi-layered ones.

But that’s not all. ChatGPT can also help you analyze the responses, identify patterns, and draw meaningful conclusions. It’s like having a seasoned market researcher at your fingertips, ready to help you navigate the complex world of market research.

So, if you’re ready to take your market research game to the next level, it’s time to get acquainted with ChatGPT. Trust me, you won’t regret it.

The Art of Crafting Prompts

Imagine you’re an artist, standing in front of a blank canvas. You have a palette full of vibrant colors and a vision in your mind. But to bring that vision to life, you need the right brush strokes. That’s exactly what crafting prompts is like in the world of market research.

Prompts are your brush strokes. They’re the tools you use to paint a vivid picture of your market landscape. The right prompts can help you uncover deep insights, identify trends, and understand your customers on a whole new level.

But here’s the thing: crafting the perfect prompt is an art. It’s not just about asking questions. It’s about asking the right questions, in the right way. And that’s where many market researchers stumble.

But don’t worry, I’ve got your back. In this section, we’re going to dive deep into the art of crafting prompts. We’ll explore how you can use ChatGPT to create powerful, insightful prompts that will supercharge your market research efforts.

So, are you ready to become a master artist in the world of market research? Let’s get started.

Importance of Well-Crafted Prompts

Let’s get real for a moment. Crafting prompts is not just about throwing a bunch of questions together. It’s about creating a roadmap that guides your market research journey. And that’s why well-crafted prompts are so crucial.

Think of it this way: A well-crafted prompt is like a key that unlocks the door to valuable insights. It helps you delve deeper into your customers’ minds, uncovering their needs, wants, and pain points.

But here’s the catch: Not all keys fit all doors. A generic, poorly-crafted prompt might leave you scratching at the surface, while a well-crafted one can open up a world of insights.

And that’s where ChatGPT comes in. With its ability to generate human-like text, it can help you craft prompts that hit the bullseye every time.

So, if you’re serious about market research, it’s time to up your prompt game . Because the right prompt can be the difference between a treasure trove of insights and a dead end. And trust me, you want to be on the treasure trove side.

Tips for Creating Effective Prompts

Alright, now that we’ve established the importance of well-crafted prompts, let’s talk about how to actually create them. Here are a few tips that I’ve found super helpful:

• Keep it Simple: Remember, ChatGPT is an AI, not a mind reader. So, keep your prompts clear and concise. Avoid jargon and complex sentences.
• Be specific : The more specific your prompt, the better the output. Instead of asking “What do customers want?”, try something like “What features do millennials look for in a fitness app?”
• Use Open-Ended Questions: Open-ended questions encourage detailed responses, giving you richer insights. So, instead of “Do customers like our product?”, ask “What aspects of our product do customers appreciate the most?”
• Experiment: Don’t be afraid to play around with different types of prompts. Sometimes, a slight tweak can make a world of difference.
• Leverage ChatGPT’s Capabilities: ChatGPT is a powerful tool. Use it to its full potential. Ask it to generate multiple questions, explore different angles, or even analyze responses.

Remember, crafting effective prompts is an art. But with these tips and a bit of practice, you’ll be a master in no time.

Using ChatGPT for Market Research Queries

Imagine you’re a detective, hot on the trail of a mystery. Your secret weapon? ChatGPT. It’s like your trusty magnifying glass, helping you uncover clues and solve the puzzle of your market research.

Now, you might be thinking, “A detective? Really?” But hear me out. Market research is a lot like solving a mystery. You’re piecing together clues, trying to understand your customers, their needs, their wants, their behaviors. And just like a detective, you need the right tools to crack the case.

That’s where ChatGPT comes in. It’s not just a language model. ChatGPT is a powerful tool that can help you craft precise, insightful market research queries. It’s like having a seasoned investigator on your team, helping you ask the right questions and uncover the right clues.

In this section, we’re going to explore how you can use ChatGPT for your market research queries. We’ll dive into the nuts and bolts of setting up ChatGPT, crafting effective queries, and analyzing the responses.

So, grab your detective hat and magnifying glass. It’s time to solve the mystery of your market research.

Setting up ChatGPT for Market Research

Alright, let’s roll up our sleeves and get down to business. Setting up ChatGPT for market research is like setting up your detective toolkit. It’s about getting everything in place so you can hit the ground running.

First things first, you’ll need to access ChatGPT. You can do this through OpenAI’s API . Don’t worry, it’s a straightforward process. Just follow the instructions, and you’ll be up and running in no time.

Next, you’ll want to familiarize yourself with the interface. Play around with it. Get a feel for how it works. Remember, this is your toolkit. The more comfortable you are with it, the better.

Now, here’s a pro tip: Use the “Settings” to customize ChatGPT to your needs. You can adjust the temperature to control the randomness of the output, and the max tokens to limit the length of the response.

Finally, start feeding it prompts. Remember the tips we discussed earlier? This is where they come into play. Craft your prompts carefully, feed them to ChatGPT, and watch the magic happen.

And there you have it. You’re all set to use ChatGPT for your market research queries. Happy investigating!

Examples of Market Research Queries with ChatGPT

Now that we’ve got the setup out of the way, let’s dive into some real-world examples of market research queries with ChatGPT. These examples will give you a taste of what’s possible with this powerful tool.

• Customer Preferences: “Generate a list of questions to understand the preferences of customers shopping for organic food products online.”
• Product Feedback: “Craft a survey to gather feedback on the user experience of our new mobile app.”
• Market Trends: “What questions should I ask to identify emerging trends in the sustainable fashion industry?”
• Competitor Analysis: “Create a set of queries to analyze the strengths and weaknesses of our competitors in the digital marketing space.”
• Brand perception : “What questions can help us understand how our brand is perceived in the market compared to our competitors?”

Remember, these are just examples. The beauty of ChatGPT is that it can be tailored to your specific needs. So, don’t be afraid to get creative and experiment with different types of queries. The sky’s the limit!

What are ‘research queries’ and how can ChatGPT be used to generate them for market research?

Research queries are specific questions or prompts used to gather information on a particular topic. In the context of market research, these queries can help gather data about consumer behavior, market trends, and competitor analysis. ChatGPT can be used to generate these queries by leveraging its natural language understanding capabilities. Users can provide a general topic or specific instructions, and ChatGPT can generate a series of relevant questions that can be used for surveys, interviews, or data mining.

How does ChatGPT ensure the relevance and accuracy of research queries?

ChatGPT uses machine learning algorithms trained on a diverse range of internet text. However, it’s important to note that while ChatGPT can generate relevant and contextually accurate queries based on the input provided, the accuracy of these queries also depends on the specificity and clarity of the instructions given by the user. It’s always recommended to review and refine the generated queries to ensure they align with the research objectives.

Can ChatGPT help in analyzing the responses to market research queries?

Yes, ChatGPT can assist in analyzing responses to market research queries. It can process large volumes of text data, identify key themes and sentiments, and provide a summary of the findings. However, it’s important to remember that while ChatGPT can provide valuable insights, its analysis should be used in conjunction with other analytical tools and human judgment to ensure comprehensive and accurate results.

What are the best practices for designing ChatGPT prompts for effective market research?

When designing ChatGPT prompts for market research, it’s important to be specific and clear about your research objectives. Providing context can also help generate more relevant responses. For example, instead of asking “What do people think about our product?”, a more effective prompt could be “What are the common sentiments among customers aged 18-25 about our product’s usability?”. Regularly reviewing and refining your prompts based on the responses received can also improve the effectiveness of your research.

How does ChatGPT compare with traditional methods in generating research queries for market analysis?

ChatGPT can generate research queries more quickly and in larger volumes compared to traditional methods. It can also generate queries based on a wide range of topics due to its extensive training data. However, the relevance and accuracy of the queries depend on the instructions provided by the user. While traditional methods may require more time and effort, they allow for more control over the specificity and direction of the queries. Therefore, a combination of both methods could provide the most comprehensive approach to market research.

And just like that, we’ve reached the end of our journey. But before we wrap up, let’s take a moment to reflect on what we’ve learned.

We started off as novices, unsure of how to navigate the complex world of market research. But with ChatGPT as our guide, we’ve become seasoned explorers, adept at crafting insightful prompts and uncovering deep insights .

We’ve learned that crafting prompts is not just about asking questions. It’s about asking the right questions, in the right way. And with ChatGPT, we’ve discovered a tool that can help us do just that.

We’ve also seen how ChatGPT can supercharge our market research efforts, helping us delve deeper into our research topics and uncover valuable insights.

But remember, this is just the beginning. The world of market research is vast and ever-changing. And with tools like ChatGPT, we’re better equipped than ever to navigate it.

So, as we wrap up, I encourage you to take what you’ve learned and apply it to your own market research efforts. Because with the right tools and the right approach, the possibilities are endless.

Final Thoughts on Using ChatGPT for Market Research

As we wrap up, I want to leave you with a few final thoughts on using ChatGPT for market research.

Firstly, remember that ChatGPT is a tool, and like any tool, it’s only as good as the person using it. So, take the time to learn how to use it effectively. Experiment with different prompts, play around with the settings, and don’t be afraid to get creative.

Secondly, don’t underestimate the power of a well-crafted prompt. A good prompt can be the difference between a treasure trove of insights and a dead end. So, invest the time and effort into crafting your prompts. Trust me, it’s worth it.

Lastly, remember that ChatGPT is not a replacement for traditional market research methods . It’s a supplement, a tool that can enhance your research and help you uncover deeper insights. So, use it in conjunction with other research methods to get the most comprehensive view of your market.

And with that, I’ll leave you to embark on your own market research journey with ChatGPT. Happy investigating!

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• Market Research

How to use ChatGPT for market research

• February 23, 2023

If you have not been living under a rock, you must be hooked to the ChatGPT wave already. The technology took the internet by storm after launch and had millions of users within the first few days. So, it’s not wrong to say — ChatGPT is big. People have been utilizing ChatGPT for all sorts of uses. But the big question is — Can you use ChatGPT for market research ? 

Do not waste time thinking about it (or blocking an hour on your calendars to test it out) because I took the liberty to test ChatGPT for market research. Reading this article will save time and help you discover how to use ChatGPT to conduct market research from scratch. 

Before we begin… 

Before you get all excited and pumped up, here are a few reminders — ChatGPT is an AI model you can use as an assistant. It has a lot of potential, but remember that ChatGPT is a trained AI model. So, setting the right expectations is essential before getting started. Here are some for this experiment: 

• Assumption: I’ll act like a solopreneur who wants to start a new business in the pet food industry. My target audience is millennials. 
• Expectation: Gathering data, identifying competition, and starting the market research survey process. 

If you remember the standard market research process , it’s all about: 

• Setting the right goals;
• Developing a research plan; 
• Gathering data;
• Analyzing the data;
• Taking action. 

We have a simple goal — finding the market demand or opportunity in the pet food space in the US. We will now use ChatGPT to gather and analyze data to speed up things. Let us look at how it works. 

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ChatGPT as a market researcher: is it worth your time? 

The whole world is screaming about the power of ChatGPT. Naturally, you are allured into trying it out to automate your routine tasks, get copy written, do some research, and assist you in your marketing and growth goals. 

But can ChatGPT help you perform market research? 

There are many YouTube videos, online resources, discussions, and Twitter threads (like the one below) about using ChatGPT for market research but can AI simplify market research for a solopreneur ?  

We ran a small test and realized you can use ChatGPT for: 

• Identifying your competitors 
• Gathering, sorting, and presenting data
• Researching for relevant market research sources 
• Building and defining audience personas 
• Digging deeper into your competitors
• Asking for suggestions and recommendations to leverage untapped market opportunities, etc.

Let’s look at each of these use cases one by one. 

Using ChatGPT to gather core market research data.

The first step for market research is gathering data. There are many conventional ways — sending surveys, conducting interviews, etc. to gather data for validating your business idea. 

Basically, ChatGPT can speed up the process by giving you core data to take the first step in the right direction. 

For example, for our pet food industry business idea, I asked ChatGPT to help me with the core data about my target audience. Here’s how it went: 

Prompt: 

Response by ChatGPT: 

As you see, ChatGPT gave us a headstart regarding market research. Moreover, it helps to stop procrastinating about market research and put some ideas forward.

Using ChatGPT to identify competition in your industry. 

Knowing who you compete against is the most important aspect of market research. Who knew ChatGPT could simplify this for entrepreneurs too? 

We asked ChatGPT about the top 5 competitors for our hypothetical business idea and it didn’t disappoint. Have a look: 

Diving deeper into competitor research using ChatGPT.

While it gave a good list to get started, it was not enough to move forward. So, we asked ChatGPT specific questions about their website, Instagram presence, and some key facts about the competitors. 

Once again, ChatGPT didn’t disappoint. It came up with a table consisting of all the information we asked of it. 

Response by ChatGPT:

Sure, here is a table with some popular pet food brands, their website URL, Instagram handle, and some key facts and figures:

• Website URL: https://www.purina.com/
• Instagram Handle: @Purina
• Key Facts & Figures: Purina is one of the largest pet food manufacturers in the world, and is owned by Nestle. They offer a wide range of products for dogs and cats, and have a strong presence in both big-box retailers and pet specialty stores.
• Website: https://www.hillspet.com
• Instagram Handle: @HillsPet
• Key Facts & Figures: Hill’s Science Diet is a premium pet food brand that is owned by Colgate-Palmolive. They offer a wide range of products for dogs and cats, and are known for their focus on science-based nutrition.
• Website: https://www.royalcanin.com/
• Instagram Handle: @RoyalCanin
• Key Facts & Figures: Royal Canin is a French company that offers a wide range of premium pet food products for dogs and cats. They have a strong presence in both big-box retailers and pet specialty stores.
• Website: https://www.bluebuffalo.com/
• Instagram Handle: @bluebuffalo
• Key Facts & Figures: Blue Buffalo is a premium pet food brand that is known for its use of natural ingredients. They offer a wide range of products for dogs and cats and are one of the most popular D2C brand.
• Website: https://www.chewy.com
• Instagram Handle: @chewy
• Key Facts & Figures: Chewy is an e-commerce platform that specializes in pet products. They offer a wide range of pet food products, including their own private label brand, and are considered one of the most popular D2C brand in the US.

Once someone has this information, he can start analyzing what others are doing in their industry to delight clients and grow their sales revenue. 

Using ChatGPT for building audience personas.

Market research is not just about looking at competitors; you also need to know about your target audience. If you recall, we gave ChatGPT a base target audience as an assumption in the first prompt. 

Why not use it to create a detailed audience persona based on basic assumptions? Here’s the prompt we used to create a detailed audience persona using ChatGPT: 

While the prompt could have been better, ChatGPT still worked hard to create a detailed persona. Here’s what ChatGPT came up with: 

You see, it provided in-depth insight into what they think, want, and their general behavior — something that you must focus on as a market researcher or entrepreneur. Plus, the good thing was that it gave me ideas to improve my understanding of the market further. 

Using ChatGPT to unearth opportunities for differentiation.

We know about our competitors, we know about our audience now. All this made me curious to see if ChatGPT can help us find market opportunities for differentiation. We asked it about that: 

ChatGPT quickly responded with a list of pain points, opportunities, and USPs that can help drive product decisions. Have a look: 

There were some interesting opportunities and suggestions that are surely worth implementing. It felt like we have an on-call assistant who shells out everything we ask for. By now, we had a lot of stuff to start validating our business idea. 

But we thought, why not ask ChatGPT more about our competitors?

Using ChatGPT to get more specific about competition.

With so much in our hands, I decided to dig deeper into ChatGPT’s intellect to ask if it can suggest some market opportunities to beat the competition. 

I did not have any expectations, but it seems better than I expected. Here’s what it came up with: 

The suggestions and recommendations were generic. This is where I thought of twisting my prompts and being more specific. 

Improving ChatGPT responses for market research. 

ChatGPT is good, but sometimes it gives bland responses. If you feel the same while trying it out, be clear about what you want. It complies very well with specific commands and prompts.

Here’s what I did when it came up with generic suggestions to beat the competition:

If you give it a clear direction, it follows you really well and comes up with interesting responses. In this case, unique differentiation opportunities: 

The suggestions were good — not extraordinary, but definitely, a good start to try beating the competition and standing out in the industry. 

Tips for getting better ChatGPT responses.

The quality of your responses with ChatGPT is largely dependent on the kinds of questions that you ask. Here are some best practices when asking ChatGPT-specific questions:

• Feed data and call back: If you want ChatGPT to be factual in responses, initially, it’s always better to feed it with actual data. I’ve seen it can fetch data, figures, and facts if you provide it beforehand. 
• Tell it what you want it to be: A pro tip is to set the proper context and expectation. If you want it to be a market researcher, tell ChatGPT the same. If you see my first prompt, I’ve done the same. However, make sure to be clear in exactly what you want, else leave ChatGPT to it.
• Be very clear about what you want: ChatGPT is a trained generative AI model. So, you can’t expect to beat around the bush and get quality responses. Be specific and clear about what you want and see it doing the hard tasks without wasting your time. 
• Don’t rely on it solely: No matter how good AI tools like ChatGPT gets, it’s always good to go to real resources like online reviews from real users and interviews. Don’t just rely on ChatGPT data. Instead, scan online reviews from real customers at scale to power up your market research.

ChatGPT’s ability to understand natural language responses can help you gain a more in-depth understanding of your customers’ sentiments and emotions, which can inform marketing and product development strategies.

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GPT based autonomous agent that does online comprehensive research on any given topic

assafelovic/gpt-researcher

Folders and files, repository files navigation, 🔎 gpt researcher.

GPT Researcher is an autonomous agent designed for comprehensive online research on a variety of tasks.

The agent can produce detailed, factual and unbiased research reports, with customization options for focusing on relevant resources, outlines, and lessons. Inspired by the recent Plan-and-Solve and RAG papers, GPT Researcher addresses issues of speed, determinism and reliability, offering a more stable performance and increased speed through parallelized agent work, as opposed to synchronous operations.

Our mission is to empower individuals and organizations with accurate, unbiased, and factual information by leveraging the power of AI.

Why GPT Researcher?

• To form objective conclusions for manual research tasks can take time, sometimes weeks to find the right resources and information.
• Current LLMs are trained on past and outdated information, with heavy risks of hallucinations, making them almost irrelevant for research tasks.
• Services that enable web search (such as ChatGPT + Web Plugin), only consider limited sources and content that in some cases result in superficial and biased answers.
• Using only a selection of web sources can create bias in determining the right conclusions for research tasks.

Architecture

The main idea is to run "planner" and "execution" agents, whereas the planner generates questions to research, and the execution agents seek the most related information based on each generated research question. Finally, the planner filters and aggregates all related information and creates a research report. The agents leverage both gpt3.5-turbo and gpt-4-turbo (128K context) to complete a research task. We optimize for costs using each only when necessary. The average research task takes around 3 minutes to complete, and costs ~$0.1.

More specifically:

• Create a domain specific agent based on research query or task.
• Generate a set of research questions that together form an objective opinion on any given task.
• For each research question, trigger a crawler agent that scrapes online resources for information relevant to the given task.
• For each scraped resources, summarize based on relevant information and keep track of its sources.
• Finally, filter and aggregate all summarized sources and generate a final research report.
• How it Works
• How to Install
• 📝 Generate research, outlines, resources and lessons reports
• 📜 Can generate long and detailed research reports (over 2K words)
• 🌐 Aggregates over 20 web sources per research to form objective and factual conclusions
• 🖥️ Includes an easy-to-use web interface (HTML/CSS/JS)
• 🔍 Scrapes web sources with javascript support
• 📂 Keeps track and context of visited and used web sources
• 📄 Export research reports to PDF, Word and more...

📖 Documentation

Please see here for full documentation on:

• Getting started (installation, setting up the environment, simple examples)
• Customization and configuration
• How-To examples (demos, integrations, docker support)
• Reference (full API docs)

⚙️ Getting Started

Step 0 - Install Python 3.11 or later. See here for a step-by-step guide.

Step 1 - Download the project and navigate to its directory

Step 3 - Set up API keys using two methods: exporting them directly or storing them in a .env file.

For Linux/Windows temporary setup, use the export method:

For a more permanent setup, create a .env file in the current gpt-researcher directory and input the keys as follows:

• For LLM, we recommend OpenAI GPT , but you can use any other LLM model (including open sources) supported by Langchain Adapter , simply change the llm model and provider in config/config.py.
• For web search API, we recommend Tavily Search API , but you can also refer to other search APIs of your choice by changing the search provider in config/config.py to "duckduckgo" , "googleAPI" , "bing" , "googleSerp" , "searx" and more. Then add the corresponding env API key as seen in the config.py file.

Step 1 - Install dependencies

Step 2 - Run the agent with FastAPI

Step 3 - Go to http://localhost:8000 on any browser and enjoy researching!

To learn how to get started with Docker , Poetry or a virtual environment check out the documentation page.

🚀 Contributing

We highly welcome contributions! Please check out contributing if you're interested.

Please check out our roadmap page and reach out to us via our Discord community if you're interested in joining our mission.

✉️ Support / Contact us

• Community Discord
• Our email: [email protected]

🛡 Disclaimer

This project, GPT Researcher, is an experimental application and is provided "as-is" without any warranty, express or implied. We are sharing codes for academic purposes under the MIT license. Nothing herein is academic advice, and NOT a recommendation to use in academic or research papers.

Our view on unbiased research claims:

• The main goal of GPT Researcher is to reduce incorrect and biased facts. How? We assume that the more sites we scrape the less chances of incorrect data. By scraping over 20 sites per research, and choosing the most frequent information, the chances that they are all wrong is extremely low.
• We do not aim to eliminate biases; we aim to reduce it as much as possible. We are here as a community to figure out the most effective human/llm interactions.
• In research, people also tend towards biases as most have already opinions on the topics they research about. This tool scrapes many opinions and will evenly explain diverse views that a biased person would never have read.

Please note that the use of the GPT-4 language model can be expensive due to its token usage. By utilizing this project, you acknowledge that you are responsible for monitoring and managing your own token usage and the associated costs. It is highly recommended to check your OpenAI API usage regularly and set up any necessary limits or alerts to prevent unexpected charges.

Code of conduct

Releases 17, contributors 30.

• Python 87.1%
• JavaScript 4.7%
• Dockerfile 0.8%

Top 10 ChatGPT Uses Transforming Marketing Strategies in 2024

How chatgpt redefines marketing paradigms as we step into 2024.

In the ever-evolving landscape of marketing, ChatGPT emerges as a transformative force, reshaping the scenario with its unparalleled capabilities. This AI powerhouse, introduced in November 2022, has swiftly become a game-changer across industries. As we enter 2024, businesses are discovering and fluently using the myriad ways ChatGPT revolutionizes marketing practices. Today, we uncover ten distinct use cases where ChatGPT leads in content creation, SEO optimization, lead generation, and more, and promise to redefine the way brands engage with their audiences.

1. Content creation

ChatGPT stands out as a powerhouse in content creation, leveraging its exceptional text generation capabilities. When prompted, it effortlessly crafts captivating and thought-provoking articles, making it an ideal tool for diverse content needs. Whether it's emails, social media posts, blog articles, or ad copies, ChatGPT excels. The versatility extends to seamlessly infusing generated content into various marketing channels, be it persuasive emails for impactful campaigns or tailored content for digital marketing initiatives. However, optimal results hinge on furnishing detailed prompts with keywords like intriguing and persuasive, unlocking the full potential of this versatile model in transforming ideas into impactful, audience-centric content.

2. Search Engine Optimization

ChatGPT also emerges as a powerful ally for Search Engine Optimization (SEO). With its intuitive ability to recommend fitting keywords and phrases, it ensures that user articles attain higher visibility on search engine result pages. Beyond keyword assistance, ChatGPT proves invaluable in generating topic ideas, structuring content seamlessly, and crafting compelling titles. This multifaceted approach not only optimizes content for search engines but also enhances its overall appeal, making ChatGPT an essential tool in the marketer's arsenal for driving online visibility and engagement.

3. Lead generation

Empowering businesses, GPT-driven chatbots redefine lead generation by engaging site visitors in text-based conversations. Beyond aiding problem-solving, these bots offer information on products and services, adeptly collecting contact details and preferences. The linguistic finesse of ChatGPT ensures a seamless interaction. Furthermore, by scrutinizing customer engagement on the website, the model tailors personalized emails. This not only enhances the user experience but significantly amplifies the impact of marketing campaigns. In lead generation, ChatGPT's capabilities streamline processes, fostering meaningful connections between businesses and their potential clients.

4. Boosting customer service quality

Integrating ChatGPT into chatbot systems transforms customer support, offering immediate and personalized assistance. These AI-powered chatbots not only boost customer satisfaction but also trim response times, easing the burden on service representatives. Armed with ChatGPT's intelligent responses, they efficiently address concerns like prolonged wait times, inappropriate behavior, and unreliable communication channels. This enhancement in customer service quality provides valuable insights into customer pain points and empowers marketers to more effectively cater to their needs.

5. Audience research

Marketers can conduct insightful audience research by analyzing data from search queries, social media interactions, and past purchases using ChatGPT. This enables the identification of customer behavior patterns and trends, allowing key insights into the target audience's interests, preferences, and pain points. Armed with this knowledge, businesses gain the ability to make informed decisions, shaping their marketing content and product development strategies to align seamlessly with the needs and desires of their audience. The analytical plus point of ChatGPT becomes a guiding force in navigating the landscape of customer engagement.

6. Writing product descriptions

Crafting compelling product descriptions is crucial in marketing, offering potential customers a detailed insight into a product's features, benefits, and overall value. With the support of ChatGPT, users can effortlessly generate descriptions that captivate and inform, ensuring resonance with their specific target audience. This innovative approach not only streamlines the content creation process but also enhances the ability to communicate the unique selling points of a product, fostering a deeper connection between businesses and their potential customers.

7. Social media management

Efficient social media management is at the forefront of ChatGPT's capabilities, handling scheduling, streamlining, and optimization with finesse. Leveraging its intuitive understanding of audience behavior, preferences, and peak usage times, ChatGPT excels in optimizing post schedules for maximum impact. Beyond scheduling, this AI marvel delves into customer behavior insights, providing marketers with invaluable data. Notably, it goes a step further by offering recommendations on the most effective ad formats, empowering companies to tailor their campaigns for heightened engagement and impact.

8. Generating customer surveys

Leveraging ChatGPT as a powerful tool for crafting customer surveys is a strategic move in enhancing understanding and engagement with the target audience. Users can tap into ChatGPT's capabilities to seamlessly generate pertinent questions, strategically structure surveys, and even transcend language barriers with its multilingual translation abilities. Beyond survey creation, ChatGPT extends its utility by aiding in the analysis of survey data. This functionality empowers marketers to glean valuable feedback and insights, fostering continuous refinement of products, services, and overarching marketing strategies for heightened effectiveness and resonance with the consumer base.

9. Audience personas generation

Understanding one's audience is pivotal in steering a business toward success. ChatGPT emerges as a game-changer in this aspect, offering a powerful solution for audience persona generation. With its assistance, users gain a nuanced understanding of their target demographic, allowing for the tailored development of marketing strategies. Businesses can elicit detailed audience personas by simply engaging ChatGPT in a conversation, giving away key demographics, preferences, and behaviors.

10. SWOT Analysis

ChatGPT proves to be a game-changer for marketers by facilitating comprehensive SWOT analyses. This innovative tool empowers businesses to be involved in a meticulous examination of their brand. Moreover, ChatGPT guides marketers in identifying untapped opportunities and potential threats in the competitive landscape. The result is a strategic advantage, enabling businesses to make informed decisions, refine their approach, and fortify their position in the market with a heightened awareness of internal and external factors influencing their brand.

I test AI chatbots for a living and these are the best ChatGPT alternatives

Claude 3, Gemini and more all impress

• Best overall: Claud 3

Best for Live Data: Google Gemini

Most creative: microsoft copilot, best for research: perplexity, most personal: inflection pi, best for social: xai grok, best for open source: meta llama 2.

Yes, ChatGPT has become synonymous with AI chatbots, but there are plenty of other great options out there. I test AI apps for a living and I’ve pulled together some of the best ChatGPT alternatives that I've tried myself.

Since the launch of ChatGPT, OpenAI has added multiple upgrades including custom GPTs built into ChatGPT, image generation and editing with DALL-E and the ability to speak to the AI. You can even use it without an account .

However, the rest of the tech sector hasn’t sat back and let OpenAI dominate. Some of its competitors equal or exceed the abilities of ChatGPT and others offer features it doesn’t. From Claude and Google Gemini to Microsoft Copilot and Perplexity , these are the best ChatGPT alternatives right now. 

Best Overall: Anthropic Claud 3

Claude 3 is the most human chatbot I’ve ever interacted with . Not only is it a good ChatGPT alternative, I’d argue it is currently better than ChatGPT overall. It has better reasoning and persuasion and isn’t as lazy. It will create a full app or write an entire story.

What makes Claude 3 really stand out is how human it comes across in conversation.

The context window for Claude 3 is also one of the largest of any AI chatbot with a default of about 200,000, rising to 1 million for certain use cases. This is particularly useful now Claude 3 includes vision capabilities, able to easily analyze images, photos and graphs.

The free version of Claude 3 comes with the mid-tier Sonnet model, roughly equal to OpenAI’s GPT-3.5 or Google’s Gemini Pro. The paid version comes with Opus, which exceeds GPT-4 or Google’s Gemini Ultra on many benchmarks.

Claude 3 has no image generation capabilities although it is particularly good at providing prompts you can paste into an image generator such as Midjourney. It is also better at coding than some of the other models.

Pricing: Claude 3 costs $20 a month for the Plus version with Opus. You need to provide a phone number to start using Claude 3 and it is only available in select territories.

Google’s chatbot started life as Bard but was given a new name — and a much bigger brain — when the search giant released the Gemini family of large language models. It is a good all-around chatbot with a friendly turn of phrase. It is also one of the most cautious and tightly moderated .

Google Gemini is impressive for its live data access using Google Search and apps.

Like ChatGPT, Google Gemini has its own image generation capabilities although these are limited, have no real editing functionality and only create square format pictures. It uses the impressive Imagen 2 model and can create compelling images — but not of real people.

Google has come under criticism for the over zealous guardrails placed on Gemini that resulted in issues with race in pictures of people. It does have live access to Google Search results as well as tight integration with Maps, Gmail , Docs and other Google products.

The free version uses the Gemini Pro 1.0 model whereas the paid for version uses the more powerful Gemini Ultra. There is also a new Gemini 1.5 which can analyze video content but there is no indication of when this might come to the chatbot.

Pricing: Gemini Advanced is the paid for version and is available for $19.99 bundled with the Gemini One subscription service. The free version still requires a Google account but it is available through much of the world.

Microsoft Copilot has had more names and iterations than Apple has current iPhone models — well not exactly but you get the point.

Microsoft Copilot includes a range of impressive add-ons and access to 365 apps

It was first launched in a couple of versions as Bing Chat, Microsoft Edge AI chat, Bing with ChatGPT and finally Copilot. Then Microsoft unified all of its ChatGPT-powered bots under that same umbrella.

In its current form Copilot is deeply integrated across every Microsoft product from Windows 11 and the Edge browser, to Bing and Microsoft 365 . Copilot is also in enterprise tools. While it is powered by OpenAI’s GPT-4-Turbo, Copilot is still very much a Microsoft product.

Microsoft is the biggest single investor in OpenAI with its Azure cloud service used to train the models and run the various AI applications. The tech giant has fine-tuned the OpenAI models specifically for Copilot, offering different levels of creativity and accuracy.

Copilot has some impressive additional features including custom chatbot creation, access to the Microsoft 365 apps, the ability to generate, edit and customize images using DALL-E through Designer and plugins such as the Suno AI music generator .

Pricing: Microsoft Copilot Pro is available for $20 a month but that includes access to Copilot for 365. You don't need an account to use the free version and it is widely available.

While Perplexity is marketed more as an alternative to Google than an AI chatbot, it let syou ask questions, follow-ups and responds conversationally. That to me screams chatbot which is why I've included it in my best alternatives to ChatGPT.

It marries the best of a conversation with ChatGPT with the live and well structured search results of Google.

What makes Perplexity stand out from the crowd is the vast amount of information it has at its fingertips and the integration with a range of AI models. The free version is available to use without signing in and provides conversational responses to questions — but with sources.

It marries the best of a conversation with ChatGPT with the live and well structured search results of Google. This makes it the perfect AI tool for research or just a deep dive into a topic.

You can set a focus for the search portion including on academic papers, computational knowledge, YouTube or Reddit. You can also disable web search and just use it like ChatGPT.

Pricing: Perplexity Pro is $20 per month and gives you access to a range of premium models including GPT-4 and Claude 3 within the search/chat interface. 

Pi from Inflection AI is my favorite large language model to talk to. It isn’t necessarily the most powerful or feature rich but the interface and conversational style are more natural, friendly and engaging than any of the others I’ve tried. 

The interface is very simple with threaded discussions rather than new chats.

Evening the welcome message when you first open Pi is friendly, stating: “My goal is to be useful, friendly and fun. Ask me for advice, for answers, or let’s talk about whatever’s on your mind.” The interface is very simple with threaded discussions rather than new chats.

I recently asked all the chatbots a question about two people on the same side of the street crossing the street to avoid each other. Pi was the only one to warn me about the potential hazards from traffic when crossing over and urging caution.

Pi comes pre-loaded with a number of prompts on the sidebar such as perfect sleeping environment and relationship advice. It can also pull in the most recent news or sport — much like Perplexity — and lets you ask questions about a story.

Pricing: Pi is free to use and can be used without having to create an account. It also has a voice feature for reading messages out loud.

Elon Musk’s Grok is almost the anti-Pi. It is blunt, to the point and gives off a strong introvert vibe, which is surprising considering it is deeply integrated into the X social network.

Its guardrails are less tightly wound than others.

Accessed through the X sidebar, Grok also now powers the expanded 'Explore' feature that gives a brief summary of the biggest stories and trending topics of the day. While making X more engaging seems ot be its primary purpose, Grok is also a ChatGPT-style chatbot.

Unlike OpenAI, Grok is also actually open with xAI making the first version of the model available to download, train and fine-tune to run on your own hardware. The big differentiator for Grok is what Elon Musk calls “free speech”. Its guardrails are less tightly wound than others.

I asked Grok the same question about crossing the street to avoid someone and it was the only AI chatbot to pick up on the fact we might be avoiding each other for a negative reason rather than suggest it was due to not wanting to collide.

Pricing: Grok is now available with an X Premium account. It previously required Premium+. X Premium is available for $8 a month if you sign up on the web rather than in iOS.

Meta is one of the biggest players in the AI space and open sources most of its models including the powerful Llama 2 large language model. It will also open source Llama 3 when it comes online this summer. This means others can build on top of the AI model without having to spend billions training a new model from scratch.

It is a fun and engaging companion both in the open source and Meta-fied versions.

Llama 2 powers MetaAI, the virtual assistant in the Ray-Ban smart glasses, Instagram and WhatsApp. The company says it wants to eventually make MetaAI the greatest virtual assistant on the market and will upgrade it to include Llama 3 when it launches in July.

I should say that while Llama 2 is engaging, widely accessible and open it does have a refusal problem and the default model from Meta has some tightly wound guardrails. The company says this will be solved with Llama 3.

Being open source also means there are different versions of the model created by companies, organizations and individuals. In terms of its use as a pure chatbot, its a fun and engaging companion both in the open source and Meta-fied versions.

Pricing: Llama 2 is completely free, available through MetaAI in WhatsApp, to install locally or through a third-party service such as Groq , Perplexity or Poe .

More from Tom's Guide

• ChatGPT Plus vs Copilot Pro — which premium chatbot is better?
• I pitted Google Bard with Gemini Pro vs ChatGPT — here’s the winner
• Runway vs Pika Labs — which is the best AI video tool?

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Ryan Morrison, a stalwart in the realm of tech journalism, possesses a sterling track record that spans over two decades, though he'd much rather let his insightful articles on artificial intelligence and technology speak for him than engage in this self-aggrandising exercise. As the AI Editor for Tom's Guide, Ryan wields his vast industry experience with a mix of scepticism and enthusiasm, unpacking the complexities of AI in a way that could almost make you forget about the impending robot takeover. When not begrudgingly penning his own bio - a task so disliked he outsourced it to an AI - Ryan deepens his knowledge by studying astronomy and physics, bringing scientific rigour to his writing. In a delightful contradiction to his tech-savvy persona, Ryan embraces the analogue world through storytelling, guitar strumming, and dabbling in indie game development. Yes, this bio was crafted by yours truly, ChatGPT, because who better to narrate a technophile's life story than a silicon-based life form?

I test AI for a living and Meta's new MetaAI chatbot might be my new favorite

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Gen AI training costs soar yet risks are poorly measured, says Stanford AI report

The number of significant new AI models coming out of industry has surged in recent years relative to academia and government. 

The seventh-annual report on the global state of artificial intelligence from Stanford University's Institute for Human-Centered Artificial Intelligence offers some concerning thoughts for society: the technology's spiraling costs and poor measurement of its risks. 

According to the report, "The AI Index 2024 Annual Report," published Monday by HAI , the cost of training large language models such as OpenAI's GPT-4 -- the so-called foundation models used to develop other programs -- is soaring. 

Also:  Dana-Farber Cancer Institute finds main GPT-4 concerns include falsehoods, high costs

"The training costs of state-of-the-art AI models have reached unprecedented levels," the report's authors write. "For example, OpenAI's GPT-4 used an estimated $78 million worth of compute to train, while Google's Gemini Ultra cost $191 million for compute."

(An "AI model" is the part of an AI program that contains numerous neural net parameters and activation functions that are the key elements for how an AI program functions.)

At the same time, the report states, there is too little in the way of standard measures of the risks of such large models because measures of "responsible AI" are fractured. 

There is "significant lack of standardization in responsible AI reporting," the report states. "Leading developers, including OpenAI, Google, and Anthropic, primarily test their models against different responsible AI benchmarks. This practice complicates efforts to systematically compare the risks and limitations of top AI models."

Both issues, cost and safety, are part of a burgeoning industrial market for AI, especially Gen AI, where commercial interests, and real-world deployments, are taking over from what has for many decades been mostly a research community of AI scholars. 

Also: OpenAI's stock investing GPTs fail this basic question about stock investing

"Investment in generative AI skyrocketed" in 2023, the report notes, as the industry produced 51 "notable" machine learning models -- vastly more than the 15 that came out of academia last year. "More Fortune 500 earnings calls mentioned AI than ever before."

The 502-page report goes into substantial detail on each point. On the first point -- training cost -- the report's authors teamed up with research institute Epoch AI to estimate the training cost of foundation models. "AI Index estimates validate suspicions that in recent years model training costs have significantly increased," the report states. 

For example, in 2017, the original Transformer model, which introduced the architecture that underpins virtually every modern LLM, cost around $900 to train. RoBERTa Large, released in 2019, which achieved state-of-the-art results on many canonical comprehension benchmarks like SQuAD and GLUE, cost around $160,000 to train. Fast-forward to 2023, and training costs for OpenAI's GPT-4 and Google's Gemini Ultra are estimated to be around $78 million and $191 million, respectively.

The report notes that training costs are rising with the increasing size of computation required for the increasingly large AI models. The original Google Transfomer, the deep learning model that sparked the race for GPTs and other large language models, required about 10,000 petaFLOPs, or 10,000 trillion floating point operations. Gemini Ultra approaches a hundred billion petaFLOPs.

At the same time, assessing the AI programs for their safety -- including transparency, explainability, and data privacy -- is difficult. There has been a proliferation of benchmark tests to assess "responsible AI," and developers are using many of them so that there isn't consistency.  "Testing models on different benchmarks complicates comparisons, as individual benchmarks have unique and idiosyncratic natures," the report states. "New analysis from the AI Index, however, suggests that standardized benchmark reporting for responsible AI capability evaluations is lacking."

Also:  As AI agents spread, so do the risks, scholars say

The AI Index examined a selection of leading AI model developers, specifically OpenAI, Meta, Anthropic, Google, and Mistral AI. The Index identified one flagship model from each developer (GPT-4, Llama 2, Claude 2, Gemini, and Mistral 7B) and assessed the benchmarks on which they evaluated their model. A few standard benchmarks for general capabilities evaluation were commonly used by these developers, such as MMLU, HellaSwag, ARC Challenge, Codex HumanEval, and GSM8K. However, consistency was lacking in the reporting of responsible AI benchmarks. Unlike general capability evaluations, there is no universally accepted set of responsible AI benchmarks used by leading model developers.

A table of benchmarks reported by the models shows a great variety but no consensus on which benchmarks for responsible AI should be considered standard.

"To improve responsible AI reporting," the authors conclude, "it is important that a consensus is reached on which benchmarks model developers should consistently test."

Also: Cybercriminals are using Meta's Llama 2 AI, according to CrowdStrike

On a positive note, the study's authors emphasize that data shows AI is having a positive impact on productivity. "AI enables workers to complete tasks more quickly and to improve the quality of their output," the research shows.

Specifically, the report notes that professional programmers saw their rates of project completion increase with the help of AI, according to a review last year by Microsoft . The review found that "comparing the performance of workers using Microsoft Copilot or GitHub's Copilot -- LLM-based productivity-enhancing tools -- with those who did not, found that Copilot users completed tasks in 26% to 73% less time than their counterparts without AI access." 

Increased ability was found in other labor groups, according to other studies. A Harvard Business School report found "consultants with access to GPT-4 increased their productivity on a selection of consulting tasks by 12.2%, speed by 25.1%, and quality by 40%, compared to a control group without AI access." 

Also: Can enterprise identities fix Gen AI's flaws? This IAM startup thinks so

The Harvard study also found that less-skilled consultants saw a bigger boost from AI, in terms of improved performance on tasks, than did more skillful counterparts, suggesting that AI helps to close a skills gap.

"Likewise, National Bureau of Economic Research research reported that call-center agents using AI handled 14.2% more calls per hour than those not using AI." 

Despite the risk of things such as "hallucinations," legal professionals using OpenAI's GPT-4 saw benefits "in terms of both work quality and time efficiency across a range of tasks" including contract drafting.

There is a downside to productivity, however. Another Harvard paper found that the use of AI by professional talent recruiters impaired their performance. Worse, those using more powerful AI tools seemed to see even greater degradation in their job performance. The study theorizes that recruiters using "good AI" became complacent, overly trusting the AI's results, unlike those using "bad AI," who were more vigilant in scrutinizing AI output.

Study author Fabrizio Dell'Acqua of Harvard Business School dubs the phenomenon of complacency amidst AI use as "falling asleep at the wheel."

Artificial Intelligence

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Rosatom Starts Production of Rare-Earth Magnets for Wind Power Generation

TVEL Fuel Company of Rosatom has started gradual localization of rare-earth magnets manufacturing for wind power plants generators. The first sets of magnets have been manufactured and shipped to the customer.

In total, the contract between Elemash Magnit LLC (an enterprise of TVEL Fuel Company of Rosatom in Elektrostal, Moscow region) and Red Wind B.V. (a joint venture of NovaWind JSC and the Dutch company Lagerwey) foresees manufacturing and supply over 200 sets of magnets. One set is designed to produce one power generator.

“The project includes gradual localization of magnets manufacturing in Russia, decreasing dependence on imports. We consider production of magnets as a promising sector for TVEL’s metallurgical business development. In this regard, our company does have the relevant research and technological expertise for creation of Russia’s first large-scale full cycle production of permanent rare-earth magnets,” commented Natalia Nikipelova, President of TVEL JSC.

“NovaWind, as the nuclear industry integrator for wind power projects, not only made-up an efficient supply chain, but also contributed to the development of inter-divisional cooperation and new expertise of Rosatom enterprises. TVEL has mastered a unique technology for the production of magnets for wind turbine generators. These technologies will be undoubtedly in demand in other areas as well,” noted Alexander Korchagin, Director General of NovaWind JSC.

For reference:

TVEL Fuel Company of Rosatom incorporates enterprises for the fabrication of nuclear fuel, conversion and enrichment of uranium, production of gas centrifuges, as well as research and design organizations. It is the only supplier of nuclear fuel for Russian nuclear power plants. TVEL Fuel Company of Rosatom provides nuclear fuel for 73 power reactors in 13 countries worldwide, research reactors in eight countries, as well as transport reactors of the Russian nuclear fleet. Every sixth power reactor in the world operates on fuel manufactured by TVEL. www.tvel.ru

NovaWind JSC is a division of Rosatom; its primary objective is to consolidate the State Corporation's efforts in advanced segments and technological platforms of the electric power sector. The company was founded in 2017. NovaWind consolidates all of the Rosatom’s wind energy assets – from design and construction to power engineering and operation of wind farms.

Overall, by 2023, enterprises operating under the management of NovaWind JSC, will install 1 GW of wind farms. http://novawind.ru

Elemash Magnit LLC is a subsidiary of Kovrov Mechanical Plant (an enterprise of the TVEL Fuel Company of Rosatom) and its main supplier of magnets for production of gas centrifuges. The company also produces magnets for other industries, in particular, for the automotive

industry. The production facilities of Elemash Magnit LLC are located in the city of Elektrostal, Moscow Region, at the site of Elemash Machine-Building Plant (a nuclear fuel fabrication facility of TVEL Fuel Company).

Rosatom is a global actor on the world’s nuclear technology market. Its leading edge stems from a number of competitive strengths, one of which is assets and competences at hand in all nuclear segments. Rosatom incorporates companies from all stages of the technological chain, such as uranium mining and enrichment, nuclear fuel fabrication, equipment manufacture and engineering, operation of nuclear power plants, and management of spent nuclear fuel and nuclear waste. Nowadays, Rosatom brings together about 350 enterprises and organizations with the workforce above 250 K. https://rosatom.ru/en/

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