In the world of market research, Amishi Takalkar is a trailblazer known for her innovative approach to understanding consumer behavior. From her beginnings at MTV to her tenure at PepsiCo and AOL, Amishi’s journey has been marked by a passion for leveraging data in entrepreneurial ways. Today, as the Co-Founder and CEO of NAILBITER, she combines business acumen with digital expertise to drive transformative technology solutions.
In this interview with IAA Benelux, Takalkar discusses how Nailbiter sees the use of AI in the field of consumer research.
IAA Benelux: Has the recent evolution of AI changed anything within your organization, and if so what?
Takalkar: We believe strongly that AI is a game changer for market research. We are currently in the very early stages of adopting AI so there hasn’t been much change but we are doing R&D to see how we can leverage AI to analyze human behaviors and offer better outcomes to our clients. We see AI as a natural driver of Videometrics and less as an efficiency tool.
IAA Benelux: What do you see as the risks of AI for your organization and for the industry as a whole and what is your role / your organization’s role in mitigating those risks?
Takalkar: We are a mid-sized, high-growth behavioral market research company. For us AI is all upside. The only risk is if we move too fast and rely on AI too much too quickly (it still has a lot of bugs).
For the industry, AI presents incredible opportunities, it also comes with risks, such as potential biases in algorithms and the ethical implications of video recordings. At Nailbiter, we are committed to ensuring the responsible use of AI. We actively engage with industry stakeholders to establish ethical guidelines and best practices for the use of AI in market research.
IAA Benelux: How do you ensure responsibility over AI-systems used within your organization?
Takalkar: Responsibility over AI-systems is a priority for us. We implement robust governance frameworks, ensuring transparency and accountability in AI decision-making processes. Regular audits of our algorithms, as well as ongoing collaboration with ethicists and industry experts, help us maintain a responsible and ethical approach to AI. Furthermore, we encourage an open dialogue with our clients about the ethical considerations related to the use of AI in market research.
IAA Benelux: What do you see as the opportunities for the use of AI?
Takalkar: The opportunities presented by AI in market research are vast. AI enables us further to analyze video data at scale, uncovering deeper insights into consumer behavior and preferences. Moreover, AI facilitates the automation of routine tasks, allowing our teams to focus on higher-value strategic activities and creativity in research design.
IAA Benelux: Do you see the industry using AI for the collective good, and if so how?
Takalkar: That is the hope! In the long term it’s collective good. But it’s important for all MR professionals to ensure that they stay on top of it. If people take the time to re-tool it presents an opportunity, especially for people just starting their careers.
AI has the potential to benefit society by driving innovation, improving efficiency, and addressing complex challenges. In market research, AI allows us to better understand consumer needs and behaviors, leading to the development of products and services that meet societal needs more effectively. Additionally, the industry can contribute to the collective good by sharing insights, fostering transparency, and collaborating on ethical standards to ensure responsible AI practices across the board.
IAA Benelux: How are the regulations around AI, such as the EU AI Act impacting your business in the EU and abroad? Do you see these regulations as opportunities or threats?
Takalkar: The EU AI Act and similar regulations are crucial for ensuring a standardized and ethical approach to AI. While compliance efforts do pose operational challenges, we view these regulations as opportunities to strengthen trust with our clients and the public. By adhering to regulatory frameworks, Nailbiter can demonstrate its commitment to responsible AI practices, setting a high standard for the industry. Moreover, these regulations foster innovation by providing a clear roadmap for the development and deployment of AI technologies, ultimately benefiting both businesses and consumers.