AI Myth #2: Humans are better but AI will still replace me!

In our previous blog, we debunked AI Myth #1: AI is a distraction – by showcasing the undeniable impact generative AI is having on the way that we gather, analyse and utilise insight. Nonetheless, like any disruptive technology, AI brings a degree of uncertainty. Initial reactions often range from scepticism, with some asserting “AI isn’t as good as humans,” to concerns about job security, fearing “AI will take my job.” Interestingly, the same person might experience both concerns at different stages of their AI journey. The truth, however, lies somewhere in-between.

Generative AI has plenty of (surmountable) limitations

While generative AI offers exciting possibilities, it’s important to acknowledge its limitations, including: 1) Hallucinations – Without access to the right data (beyond what it’s already trained on), it can often make up responses. 2) Connecting the dots – It is difficult for AI to ‘connect the dots’ between different data sources in the same way that humans can. 3) Security concerns – The big tech companies reserve the right to retrain their algorithms based on data inputs and this can violate client confidentiality agreements.
On the face of it, this suggests that AI isn’t as good as humans. However, the development of our own tool – strat7GPT – proves that these limitations can be largely dealt with. At the heart of strat7GPT is a Retrieval Augmented Generation (RAG) search tool which:
  • can handle multiple data formats (PDFs transcripts to PPT decks).
  • guides users on how to effectively prompt it.
  • satisfies GDPR and InfoSec requirements (through use of an Enterprise Grade Large Language Model).

But humans make it better

While strat7GPT is a valuable tool, it’s not a replacement for the human expertise. Our previous blog showcased the importance of bespoke data collection, in-depth analysis, and insightful recommendations delivered by our consultants (the seasoned veterans!). 

Our strat7GPT tool acts as a highly capable “always-on graduate student”, efficiently processing vast amounts of data. However, it lacks the human ability to fully contextualise findings and deliver strategic guidance. It is just one part of our bespoke AI toolkit.

However, our data scientists and engineers have been working hard to make strat7GPT even more relevant for the type of questions we need to answer. This means it is accurate, understands market research deliverables, and gives consistent answers each time.

Several clients have recently approached us to understand how a Segmentation Chatbot can take advantage of the wealth of proprietary data they are sitting on (e.g. pen portraits, qual transcripts, videos and data tables).

After conducting hundreds of experiments to explore various data types and prompts, we have developed the technology necessary to incorporate this product into our segmentation delivery.

Whilst these Chatbots can mimic human-like abilities, it requires careful data pre-processing and prompt engineering to unlock these benefits – all done by our team of data scientists and evaluated by our consultants, to make generative AI better.

myth #2 ai not as good as humans vs myth #3 ai will take my job

AI is more than Generative AI

It’s important to remember that AI around unstructured data goes beyond Generative AI. Natural Language Processing and Computer Vision, for example, have both been used by data scientists for a number of years. 

Natural Language Processing (NLP) – This powerful technology can analyse vast amounts of text and speech, identifying key topics and trends at a scale humans can’t match. Imagine being able to analyse thousands of customer reviews from social media to understand their sentiments and priorities – all in an instant!

Computer Vision – This technology unlocks the secrets hidden within images and videos. It can detect content, recognise people, identify actions, and even gauge emotions. Imagine extracting insights from social media images to understand consumer preferences and brand perception.

The future of AI: Humans and machines working together

While generative AI offers exciting possibilities, it’s most powerful when combined with human expertise. As we’ve seen, limitations can be addressed, and tools like strat7GPT are invaluable for collecting and analysing vast amounts of data quickly and efficiently. AI isn’t here to replace us, but to augment what we do, allowing us to gather deeper insights and deliver even greater value to our clients.

The next blog in our series delves into AI Myth #3: Generative AI can never be representative.

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Joe Lockey

Senior Analyst

Joe joined us after completing rotations across our consumer, services and health sectors, whilst gaining exposure to both qualitative and quantitative research techniques.

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Alice Hedlund

Principal

Alice has experience in customer-centric growth, brand strategy and innovation at global scale. She specialises in brand transformation journeys, bridging the gap between business and brand strategy to create holistic and actionable plans for impactful growth.

Helen Donald

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Tom Carvell

Principal

Tom has a science background with a PhD in Materials Chemistry. He has spent most of his career working on in-house front-end innovation where he delivered mid/long term strategic projects for brands such as Durex, Scholl, Veet and KY. He is focussed on delivering pragmatic but provocative innovation strategy for CPG categories.

Manick Pratheeban

Senior Principal

Manick is a brand strategy and consumer insight specialist with 15+ years’ experience helping to grow some of the world’s biggest brands. He has a proven track record of translating trends, consumer, and market data into actionable insights to formulate growth strategies.

Kate Jones

Senior Principal

Kate has over a decade of experience in creating transformative strategies for customer-focused businesses. With a background in consumer insight and behaviour change across consumer health, packaged goods, leisure, banking and other sectors she focuses on elevating the customer experience to create human-centric innovations and foster impactful growth.

Jacob Gascoine-Becker

Partner

Jacob specialises in leveraging consumer research to inform investment strategy and business case development. A management consultant since 2014, he previously spent eight years working in ecommerce and digital marketing.

Ines Achabal

Senior Analyst

Ines is inately curious and creative. She is known for her expansive thinking when exploring client challenges and elevating the visual quality of outputs to maximise their impact.

Helene Mills

Partner

Helene has 20+ years’ experience advising business leaders and investors on growth strategy based upon consumer and market intelligence. Her particular specialism lies in leisure, retail, food and beverage sectors.

Helen Donald

Helen Donald

Partner

Helen has consulted businesses at different stages of growth across a variety of sectors, specialising in consumer packaged goods and consumer healthcare. She is an adept strategist, bringing clarity to the most complex of situations and connecting dots to create rich, future-proofed platforms for innovation, brand positioning and growth.

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Allan Chen

Senior Principal

Allan’s core skillset provides an analytical and commercial lens to address client challenges. He started his career as an actuary, and since then has held a broad range of strategic roles, improving performance across the private and public sector.

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Björn Dufwenberg

Managing Director​

Björn has 15+ years’ experience in insight-driven transformation, across management consulting, as well as brand and innovation agency roles. Most recently he headed up the Customer-Led Transformation practice at PwC Sweden, until joining STRAT7 in 2021. He’s worked on global projects covering consumer goods, durables, spirits and beverages, retail, banking, and private equity.

Kamilla Dala

Senior Principal

Kamilla has 10+ years’ experience leading and implementing insight-driven transformation within global matrix organisations in durable and consumable goods. Areas of expertise cover segmentation, uncovering and translating actionable consumer insights within innovation, product development, brand positioning, strategy and marketing.