[Podcast] From Skepticism to Strategy: Unpacking the Power of Synthetic Data in Market Research with Avi Yashchin

Last week, Subconscious.ai CEO Avi Yashchin joined the hosts of the AI DIY podcast to discuss the crucial roles that causal modeling and synthetic data are playing in the future of consumer research and marketing strategy.

Summary

In this conversation, Avi Yashchin discusses the evolution and potential of synthetic data in market research, emphasizing the shift from skepticism to acceptance. He highlights the importance of causal modeling as the gold standard for understanding consumer behavior and the role of large language models in generating insights.

The discussion also covers the risks associated with synthetic data, the need for bioequivalence to ensure quality, and the integration of qualitative and quantitative research methods. Yashchin stresses the importance of trust and transparency in data usage and explores the ethical implications of market research in the age of AI.

Watch the episode below or click through to listen on Spotify!

Takeaways

• Synthetic data has evolved from skepticism to acceptance.

• Causal modeling is essential for understanding consumer behavior.

• Large language models reduce out-of-sample risks in data generation.

• Performance research is crucial for understanding model behavior.

• Causal understanding differentiates human decision-making from AI.

• Risks of synthetic data include validation against real humans.

• Bioequivalence ensures high-quality outputs in research.

• Integrating qualitative and quantitative research enhances insights.

• Synthetic data can significantly reduce research costs.

• Trust and transparency are paramount in data-driven research.

If you’d like to try out the Subconscious.ai platform for your market research needs, you can run 2 free experiments by clicking “Get Started” here.