ChatGPT and creative

destruction
A focus on the Market Research Industry

Pieter Teer, Augustin De Schrijver, Anita Zhao, Karthik

Subramanian, Théobald Vitoux
Impact of NLP technologies on Market
Research Industry

The market research industry has grown steadily

over the past years

Advanced NLP technologies, such as Chatgpt, are

likely to strongly impact the industry

Market research firms help clients gather and

interpret information about organizations or
complete markets

Technologies like Chatgpt can analyze and interpret

enormous amounts of data in a short period of time,
providing cost-effective alternatives to conventional
market research methods
Forrester Research and the Impact of Chatgpt

Forrester Research is a leading provider of market research services

Utilizes traditional methods such as surveys and focus groups

Chatgpt's ability to process and analyze large amounts of data quickly and accurately
may make it a more attractive option for companies

Chatgpt's real-time data insights could make it more efficient for companies to access
real-time data insights

Companies such as Forrester Research may face a significant threat from the
widespread adoption of NLP technologies such as Chatgpt.
Text wrap-up

Selected sector: Market Research Industry

Whereas the “market research” industry has grown steadily over the past number of years, it will likely be strongly impacted by the
proliferation of advanced natural language processing technologies, such as Chatgpt. The market research sector consists of firms
that “help clients gather and interpret information about organizations or complete markets, with the insights (market size,
competition, market need, consumer behavior, etc) leveraged to shape strategies and other business activities” (Bhat,
2022). Technologies such as Chatgpt, however, can effectively analyze and interpret enormous amounts of data in a comparatively
short period of time, providing cost effective alternatives to conventional market research methods. As a result, companies that
operate within this industry – whether focused market research firms or more diversified firms with market research operations –
will likely face problematic impacts because of the increased use of these technologies.
Example company: Forrester Research
Forrester Research is a leading provider of market research services, utilizing traditional methods such as surveys and focus
groups. However, the ability of Chatgpt to process and analyze large amounts of data quickly and accurately may make it a more
attractive option for companies looking to gather data about their target market. Additionally, Chatgpt real-time data insights could
make it more efficient for companies to access real-time data insights.
In summary, Chatgpt could disrupt - or rather revolutionize - the market research industry by providing efficient, accurate and cost-
effective alternatives to traditional research methods. Companies such as Forrester Research which specialize in market research
may hence face a significant threat from the widespread adoption of these technologies.