AI has rapidly become a marketing buzzword to sprinkle on everything and, as a result, we’re entering a dangerous world of inflated expectations and ambiguity. Marketing expert and brand consultant Mark Ritson referred to some of the new tools available as toys—“the latest technological toy arrives, it distracts a huge army of marketers from their actual challenges, then evaporates into the ether only for a new distraction to form and take its place.” The skill for consumer and innovation practitioners is understanding which solution providers have the track record and capabilities to drive better decisions. And not to just sign up to a new tool, for a tool’s sake. PROVIDING REAL BUSINESS IMPACT AI created a fervor in the industry last year— but the honeymoon period is coming to an end. That’s not to say that AI won’t be central to the innovation process of the future, or that its impact will be anything but monumental, but agencies and solution providers hiding behind its “potential” or a “GPT plug- in” are being found out. It’s about providing real business impact and outcomes today. Not the promise of something in the future. But we have entered a new era of product innovation. Instead of asking a handful of consumers survey questions,
we can harness what millions of people are actively talking about online to scientifically answer the big and small questions along the innovation process. “My agenda is focused on finding effective, practical solutions that drive immediate
value for our customers.”
INVESTING IN INNOVATION Economists suggest consumer confidence is steadily increasing. My personal measure is what I see and hear directly from clients. Most are investing and prioritizing innovation for growth—to that end I’m feeling good about 2024 and beyond.
Nik Pearmine Chief Strategy Officer , Black Swan Data
FEI 2024 & Key Innovation Perspectives
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