BUSINESS

ENTROPIK SURVEY: 76 PCT MARKETERS VIEW INSIGHTS AI RISING POPULARITY AS HUGE OPPORTUNITY

06/02/2024 03:10 PM

KUALA LUMPUR, Feb 6 (Bernama) -- Entropik, a Human Insights artificial intelligence (AI) company, has launched its first edition of the Annual Industry Report on Insights AI, highlighting the growing popularity of Insights AI, with 76 per cent participants viewing it as an opportunity to reshape the market research industry through hyper-personalisation.

Insights AI, a set of AI technologies including Emotion AI, Behaviour AI, and Generative AI, helps marketers understand the subconscious human emotions that can shape consumer decisions, apart from analysing data.

According to Entropik in a statement, the integration of Insights AI helps brands by offering unparalleled depth and precision in understanding consumer motivations, preferences as well as experiences. 

“Our 1st Annual Industry Report is not just a compilation of data; it is a strategic guide for businesses navigating the complexities of user research and consumer research in the age of AI,” said Entropik Co-founder & Chief Executive Officer, Ranjan Kumar.

The survey revealed that nearly 58 per cent of respondents are familiar with the term "Insights AI" in research, and notably, 20 per cent of participants expressed a belief that traditional research methods have become ineffective in contemporary times.

This inaugural edition delves deep into Insights AI in relation to user research and consumer research across various industries and offers an understanding of its evolution, applications, and future trends.

One of the findings underscores that Insights AI has significantly reduced the time for receiving insights, achieving a six-fold improvement compared to traditional methods.

The report further emphasises the broad impact of Insights AI across industries, particularly in the e-commerce; banking, financial services and insurance (BFSI); and over-the-top (OTT) sectors.

Summarising the report's significance, Entropik emphasises that Insights AI research has the power to influence and change consumer behaviour, improve brand loyalty, and facilitate the repositioning of products and services by creating contextual cues.

-- BERNAMA


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