A Singaporean AI startup is trying to disrupt market research industry [Video]

Artificial intelligence is aiming to disrupt a 100-year-old industry.

Finding ways to attract consumers to buy packaged goods stretches back to the 1920s when American psychologist Daniel Starch created the world’s first market research study.

Today, the global market research industry is worth an estimated $87.7 billion and is expected to grow by another $15 billion in the next four years, with artificial intelligence’s rise one of the major contributing factors. One company hoping to lead that disruption is Ai Palette.

Founded in Singapore in 2018, the startup provides AI-powered market research with real-time predictive analytics. Rival firms include ZoomInfo Sales, Trajaan and Brandwatch Consumer Intelligence, all of which deploy a variety of technology to comb through consumer data and marketing trends.

Using more than 61 billion data points from 24 countries, Ai Palette’s platform – running for the past four years – generates new concepts for brands based on identified trends, transforming traditional market research in the process.

Somsubhra Gan Choudhuri, co-founder and CEO Ai Palette, said AI can take …