How AI Will Revolutionize Product Development

Artificial intelligence (AI) can help companies more swiftly and accurately analyze market data and consumer feedback.

Inaccurate market-fit information is the prime reason 33% of all start-ups fail. Artificial intelligence’s data-gathering and analysis capabilities make it a perfect tool for helping companies assess whether the products they’re developing will serve real customer needs. AI can examine both quantitative and qualitative data to determine the likelihood that a product will catch on with its intended audience. It can also help you uncover new consumer insights, which can, in turn, spur new product development.

AI can offer a lot of help in organizing and interpreting feedback and other information. Mishra notes that as much as 70% to 80% of corporate information exists in unstructured forms, such as paper work, emails and social media posts. Historically, companies have struggled to analyze such material effectively. However, generative AI can help structure and interpret such information for maximum utility, so you can use it  to determine market fit, identify your product’s best or most...