How AI could augment human insights

How AI could augment human insights

4 minute read

New technology is changing the way the insights function works across the globe. Ioana Danila, Senior Manager, Global Insights at the WFA, explains how it is enabling a more strategic approach.

Article details

  • Global Insights, Senior Manager
1 October 2024
2024_Elevating the insights function with AI
Please note that this report is WFA member content only. If you'd like to know more about WFA membership, please reach out to membership@wfanet.org.

AI integration into the insights function is no longer futuristic – it's transforming how organisations understand and act on data today.

According to this latest report by WFA, AI is already playing a pivotal role in enhancing operational efficiency, decision-making speed and knowledge management. Adoption is still in its early stages, however, with many organisations using it for specific tasks rather than fully embedding it into their processes.

For senior insights leaders, understanding both the opportunities and risks of AI is essential to elevating the function and gaining greater visibility within their organisations.

It also offers unprecedented opportunities to elevate the insights function. Its ability to automate repetitive tasks such as data analysis and report generation frees up insights professionals to focus on more strategic activities such as foresight work and creative problem-solving.

AI can also enhance the accuracy and speed of insights, enabling organisations to make data-driven decisions in real-time, 94% of respondents defined the potential for AI to drive efficiency as a key benefit. This change alone will help shift the position of the insights function into a key driver of innovation and competitive advantage.

But we’re only at the beginning of the journey. Our new report Reaching the summit: Elevating the insights function with AI highlights the current state AI application within the world of insights, using responses from 36 senior insights leaders representing 33 multinational WFA member companies with a total global marketing and ad spend of $60 billion. Seventy-five percent of respondents are at the director level or above, underscoring the strategic importance of the insights function within their organisations.

Key findings include:

  1. 47% use AI for specific tasks but not a major part of the insights practice and processes. Only a small percentage of organisations (3%) have fully embedded AI in their current insights practice and processes;
  2. 94% agree AI enables faster insights, including real-time, and enables quicker decision-making;
  3. 71% rely today on external vendors for AI solutions;
  4. 27% claim that “prompt engineering” will be an essential skill for insights professional; and
  5. 46% are looking to upskill existing team members on AI.

Insights and AI

The report identifies that while AI tools such as Microsoft Copilot, Qualtrics and Talkwalker are gaining traction within the insights function, a significant number of organisations (47%) are still using AI for specific tasks rather than as an integral part of their operations. The potential for AI to drive efficiency – highlighted by 94% of respondents as a key benefit – is clear, but the road to full integration is fraught with challenges, including data privacy concerns, lack of strategic clarity and skill gaps.

But there are also key barriers to overcome – some of which will be similar for other functions in WFA member businesses. Organisations continue to face challenges related to regulatory concerns (33%), data privacy (52%) and budget constraints (48%).

Released at our biggest ever meeting in on Sep 30th in Geneva, Reaching the summit: Elevating the insights function with AI, also highlights that collaboration is the key to moving forward and helping every insights function to gain more visibility and credibility in its organisation.

For most organisations, AI is winning where it can demonstrate that it can enhance operational efficiency (69%), speed up decision-making and generate insights faster. This focus on efficiency aligns with the widespread use of AI in predictive analytics, text summarisation, and data synthesis.

It is essential that insights leaders foster a culture of innovation, encouraging their teams to experiment with AI tools while recognising that failure is part of the learning process.

Right now, leadership support for AI initiatives is mixed, with 48% of senior leadership providing moderate support and 26% actively championing these efforts.

Insights directors can play a key role in securing greater leadership involvement by maintaining transparent communication about AI’s capabilities and limitations, involving key stakeholders early in the process and emphasizing the strategic benefits of AI.

To secure leadership buy-in, insights directors need to develop pilot projects that showcase AI’s potential, actively align AI initiatives with broader organisational goals and continually demonstrate return on investment (ROI).

Such a proactive approach is crucial for staying ahead in a rapidly evolving technological landscape and continuing to build the role of insights as a strategic partner that helps grow brands and businesses.

The bottom line is that AI applied right will act as an insights enabler: augmenting, not replacing, the human expertise.

To dive deeper into the findings, download the full report and engage with your peers in the Insight Forum.

Any questions, feel free to reach out to Ioana Danila.

Article details

  • Global Insights, Senior Manager
1 October 2024

Contact us