How Artificial Intelligence, VR, and Behavioral Economics are Revolutionizing Marketing Research

admin MB Blog

Marketing Brainology recently participated in the IIeX Forum, presented by Greenbook, which focused on understanding human behavior, how to measure behavior in consumer neuroscience space, and how to apply those insights to grow a business.

Watch our short summary video above of key insights.

We heard different perspectives of how nonconscious measurement is growing, and how it is being applied from the client perspective and from pioneers in the development of some Neurotools, such as Implicit Response.

Many of the sessions were around three main topics: politics, emotion measurement, and new trends applied in nonconscious measurement.

The Key Trending Disciplines include:

1.    Artificial Intelligence: Applied machine learning measures natural language.  One example is how virtual conversations and 1 billion Google news articles are used to create a 300-dimensional concept space which helps companies determine how people with different words say the same basic thing.

2.    Virtual Reality: VR has been applied in gaming, the marketing industry, and retail in many different ways. More recently, applied VR delivers immersive, entertaining, and therapeutic content for patients and training situations.  It is applied in police training around “empathy issues,” and in preparing patients for chemotherapy, and helping patients recover from post-traumatic stress disorder.

3.    Behavioral Economics:  Over the past 10 years, marketers and agencies are applying behavioral economic principles into what they are doing.  Companies such as Amazon, Uber, and Facebook are examples of companies who are applying and testing behavioral economics strategies.

As we continue to evolve our understanding of human behavior, it is critical to come together to discuss emerging tools and approaches. Forums like the IIex Forum facilitate sharing different perspectives and challenging thinking.

Marketing Brainology is proud to be part of this evolving space and to continue to push new ways of thinking into everything we do.

Michelle Adams, Ph.D. & Brenda Hernandez- M.A.

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