Name: Top 4 ways AI can improve your product development process
Uploaded: 2023-08-23T13:48:48.962Z
Duration: 272.2
Description: In today's business world, using AI technologies like ChatGPT can revolutionise efficiency in the innovation process. Not only that, these tools are equipping development teams to be more data-informed when making decisions. Nikolas Pearmine, Chief Strategy Officer at Black Swan, shares how these processes can help your product development journey.

Nikolas Pearmine v2.mp4

Nikolas Pearmine v2.vtt

English

{{00:00:10}}
Nicholas Permine, , Chief Strategy
Officer at Black Swan Data.

{{00:00:14}}
AI as a conversation
only really became one.

{{00:00:18}}
Three or four months ago when chat
GPT announced itself to the world and

{{00:00:22}}
made AI a conversation and the reality
is, is it, it offers an entirely

{{00:00:26}}
alternative way to approach innovation.

{{00:00:28}}
It offers objectivity, , and removes that
challenge that research has always had of.

{{00:00:33}}
being able to distinguish between what
consumers say and actually do, but more

{{00:00:37}}
importantly, it enables you, to predict.

{{00:00:41}}
And if you can predict based off of
any data source, but in our context,

{{00:00:46}}
from what people are saying today about
categories that they're huge advocates

{{00:00:49}}
for and translate those conversations
into being with great degrees of accuracy

{{00:00:55}}
as to how that's going to affect what
people, how people are going to be

{{00:00:58}}
shopping categories, six months, three
years, five years into the future.

{{00:01:02}}
The job from an innovation
standpoint becomes.

{{00:01:05}}
A lot more structured and straightforward
because you're working back from a

{{00:01:09}}
need which you've established,  and
you're optimizing your portfolio

{{00:01:13}}
and product form as a result.

{{00:01:14}}
Chat GPT has changed significantly the
ability to ask more qualitative and open

{{00:01:28}}
ended questions of that data, which is
hugely exciting for us in the industry.

{{00:01:33}}
With the right data underpinning the
models, it's going to present the

{{00:01:36}}
opportunity for researchers to ask
open ended questions of that data.

{{00:01:40}}
Like, we as Black Swan, like,
from a technology standpoint,

{{00:01:43}}
the relationship with that data
is still quite closed questions.

{{00:01:46}}
Is it this?

{{00:01:47}}
Is it that?

{{00:01:47}}
What will be bigger,
this or, yeah, A or B?

{{00:01:58}}
With the advancements of AI, and
more importantly, the advancements

{{00:02:01}}
in data collection, structuring, and
cleansing of that data so that the,

{{00:02:06}}
to apply the AI, Is it gives you an
entirely unadulterated and objective

{{00:02:11}}
view as to what matters to people.

{{00:02:13}}
So, the people that are willing to share,
you know, the good, the positive and

{{00:02:18}}
the indifferent about the products, the
categories, the brands they're engaging

{{00:02:21}}
with on social media, is a wonderful
opportunity to both get that, place

{{00:02:25}}
that objectivity into the decision
making process, but also, Yeah, give

{{00:02:28}}
you access to data, which is by its
nature, quantitative and gives you real

{{00:02:34}}
confidence in being able to progress with
ideas that develop from that process.

{{00:02:45}}
If we take like personalization in a
more scalable way, which most of our CPG.

{{00:02:49}}
Partners,  are exploring is
whether it's regional or country

{{00:02:54}}
specific or yeah, global.

{{00:02:56}}
Every,  company has a different approach
to innovation, but being able to

{{00:03:00}}
pinpoint data and through AI, analyse
and predict how, from what people are

{{00:03:05}}
talking about will evolve enables you
to get to some very, very specific

{{00:03:09}}
ideas, which can be personalised
from a formulation standpoint.

{{00:03:14}}
Or even in marketing from a claims,
perspective to fill as an individual,

{{00:03:19}}
you're being spoken to rather than
historically one product, one message,

{{00:03:24}}
which is designed to reach everyone

{{00:03:34}}
from an error perspective.

{{00:03:36}}
When,  humans are involved, subjectivity
and bias is involved and where the

{{00:03:42}}
technology, where AI is, is progressing
our industry forward hugely is, is the

{{00:03:47}}
objectivity it brings to, to a process.

{{00:03:49}}
So errors should be less so because
you have a consistent data source,

{{00:03:54}}
a consistent set of metrics, which
should drive decision making at

{{00:03:58}}
every one, every stage of the gate.

{{00:04:00}}
Process, whether that's identifying,
defining, prioritising, or creating,

{{00:04:04}}
all of the stakeholders, the thousands
that are involved in that process,

{{00:04:08}}
are looking at a consistent set of
data, a consistent set of metrics.

{{00:04:11}}
And that alone we've seen with our
partners hugely reduce error,  and

{{00:04:18}}
equally hugely reduce subjectivity in
decision making,  is the most obvious

{{00:04:23}}
way in which it's, it's achieving that.

Nicholas Permine, , Chief Strategy
Officer at Black Swan Data.

AI as a conversation
only really became one.

Three or four months ago when chat
GPT announced itself to the world and

made AI a conversation and the reality
is, is it, it offers an entirely

It offers objectivity, , and removes that
challenge that research has always had of.

being able to distinguish between what
consumers say and actually do, but more

And if you can predict based off of
any data source, but in our context,

from what people are saying today about
categories that they're huge advocates

for and translate those conversations
into being with great degrees of accuracy

as to how that's going to affect what
people, how people are going to be

shopping categories, six months, three
years, five years into the future.

The job from an innovation
standpoint becomes.

A lot more structured and straightforward
because you're working back from a

need which you've established,  and
you're optimizing your portfolio

Chat GPT has changed significantly the
ability to ask more qualitative and open

ended questions of that data, which is
hugely exciting for us in the industry.

With the right data underpinning the
models, it's going to present the

opportunity for researchers to ask
open ended questions of that data.

Like, we as Black Swan, like,
from a technology standpoint,

the relationship with that data
is still quite closed questions.

What will be bigger,
this or, yeah, A or B?

With the advancements of AI, and
more importantly, the advancements

in data collection, structuring, and
cleansing of that data so that the,

to apply the AI, Is it gives you an
entirely unadulterated and objective

So, the people that are willing to share,
you know, the good, the positive and

the indifferent about the products, the
categories, the brands they're engaging

with on social media, is a wonderful
opportunity to both get that, place

that objectivity into the decision
making process, but also, Yeah, give

you access to data, which is by its
nature, quantitative and gives you real

confidence in being able to progress with
ideas that develop from that process.

If we take like personalization in a
more scalable way, which most of our CPG.

Partners,  are exploring is
whether it's regional or country

Every,  company has a different approach
to innovation, but being able to

pinpoint data and through AI, analyse
and predict how, from what people are

talking about will evolve enables you
to get to some very, very specific

ideas, which can be personalised
from a formulation standpoint.

Or even in marketing from a claims,
perspective to fill as an individual,

you're being spoken to rather than
historically one product, one message,

When,  humans are involved, subjectivity
and bias is involved and where the

technology, where AI is, is progressing
our industry forward hugely is, is the

So errors should be less so because
you have a consistent data source,

a consistent set of metrics, which
should drive decision making at

Process, whether that's identifying,
defining, prioritising, or creating,

all of the stakeholders, the thousands
that are involved in that process,

are looking at a consistent set of
data, a consistent set of metrics.

And that alone we've seen with our
partners hugely reduce error,  and

equally hugely reduce subjectivity in
decision making,  is the most obvious

Expert Insight

In today's business world, using AI technologies like ChatGPT can revolutionise efficiency in the innovation process. Not only that, these tools are equipping development teams to be more data-informed when making decisions. 

Nikolas Pearmine, Chief Strategy Officer at Black Swan, shares how these processes can help your product development journey. 


Automation

Technology Data analytics

Decision Making

data drive

thumbnail_nikolas.jpeg

xsmall_nikolas.jpeg

nikolas.jpeg

Nikolas Pearmine

Chief Strategy Officer 

Pearmine discusses AI's evolving role and the impact that change will have on researchers and their work. 

More qualitative research

Pearmine highlights the importance of knowing your customer's individual preferences for better decision-making and product innovations.

Objective view of what matters to customers

AI is speeding up the data analytics process, making way for deeper personalisation capabilities. Pearmine discusses how best to make use of this new data. 