4 key takeaways from the 2024 GRIT Report

In a landscape of manufacturers tightening budgets and market’s increasing time constraints, insights professionals face mounting challenges to stay relevant and impactful. The GRIT 2024 Business & Innovation Report reveals key trends that underscore these pressures, from the rapid adoption of AI to the growing dominance of full-service, tech-driven providers.

According to the report, over two-thirds of companies are now using or exploring AI solutions, with 80% anticipating significant productivity gains. Meanwhile, the number of full-service providers with at least 500 employees has more than doubled, signaling a shift toward larger, tech-driven firms.

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In this blog, we’ve distilled the report’s most compelling findings and gathered insights from EyeSee’s leadership team to offer practical strategies for driving value in today’s insights industry.

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(Un)Met Needs in the Market Research Industry

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“I wholeheartedly agree. In today’s dynamic market, integrating insights is essential for maintaining a competitive edge. Researchers provide critical information that enables informed decision-making, helps brands understand evolving consumer needs, assesses brand performance, and identifies areas for improvement.
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By effectively communicating the strategic impact of insights, researchers ensure that organizations not only make agile, data-driven decisions but also remain attuned to the competitive landscape. Without a clear articulation of value, organizations risk overlooking the importance of insights, potentially leading to reduced investment and support at a time when actionable intelligence is crucial for success.”

‍AI in Everyday Life & Caution with AI at Work

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‍“Absolutely! However, AI isn’t a magic wand. Despite rapid advancements and increasing competition, AI solutions are steadily improving, yet they still face challenges, including a tendency to "hallucinate"—producing incorrect or misleading information with high confidence.

‍These hallucinations can arise from ambiguous or poorly worded questions, lack of context, unanswerable queries, or even limitations in training data, such as errors or insufficient examples.

Additionally, the level of technical expertise involved in building and refining these models can impact their accuracy and reliability. As a tech-enabled insights partner, EyeSee combines human expertise with artificial intelligence, allowing each to enhance the other. Our approach emphasizes integrating AI within workflows, but only after thorough validation. We prioritize factual accuracy and carefully consider context, weighing all alternatives to ensure balanced and effective applications.”

‍Industry Structure and the Rise of Full-Service Companies

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“As the AI surge reshapes the research landscape, it’s worth considering how things will settle once the dust has cleared. For now, I agree with the assessment: larger, tech-driven suppliers are shifting the balance in favor of those who can leverage and scale advanced technology. The industry, along with client demand, is firmly heading in this direction, though the full extent of this shift remains to be seen.

For smaller research providers, competing directly on technological capabilities is challenging, making specialization a more accessible path. By focusing on specific industry expertise, smaller firms can build a reputation for deep knowledge and highly tailored, client-centric services. This approach not only establishes trust but also creates opportunities for targeted and more affordable investments in technical sophistication.

An obvious alternative for smaller firms is collaboration with tech companies, allowing access to innovative tools and methodologies without the full cost of in-house development. Ultimately, a blend of specialization and partnerships with tech innovators may be the most balanced strategy, enabling smaller players to compete in a market increasingly driven by both expertise and technological sophistication.”

Evolving Insights Audience: Meeting Project Objectives

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"We deliver exceptional value through a client-centric, partnership-driven approach. We believe that truly impactful insights start with listening carefully to our clients' unique needs and objectives. With rich cross-category knowledge and a hungry, multidisciplinary team, we bring a depth of expertise that allows us to understand and adapt to diverse industries.
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Our modular approach and tech-enabled agility enable us to meet evolving demands, ensuring that our insights provide actionable, meaningful value tailored to each client's specific challenges and goals. "

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