NIQ Unveils Groundbreaking AI Instruments for CPG Manufacturers at FastCompany Innovation Competition 2024 Offering Human-Powered Insights on the Pace of AI

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Revealed Sep 16, 2024 • 4 minute learn

Introduces the world’s first CPG massive language mannequin and BASES AI, a instrument utilizing actual consumer-permissioned information to create artificial panels for idea testing

New language mannequin boasts 7x the automation of public fashions, figuring out, organizing, and categorizing merchandise educated on 160 petabytes of information

BASES AI produces artificial survey panels that take a look at and benchmark concepts at a fraction of the associated fee and time

CHICAGO — NielsenIQ (NIQ), the world’s main international shopper intelligence firm, introduced two breakthroughs in synthetic intelligence that additional validate its management place. BASES AI and the CPG trade’s first massive language mannequin will assist NIQ purchasers harness the facility of accountable AI to drive innovation and develop market share. NIQ will even be talking about AI developments in shopper shopping for intelligence and innovation at a panel on Thursday, September nineteenth at 2:20pm ET titled “ Does AI Know What We Actually Need? How Artificial Respondents Are Disrupting Product Innovation.”

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BASES AI is a platform that makes use of consumer-permissioned information on consumption patterns throughout a whole bunch of 1000’s of households to imitate shopper conduct. The platform has entry to information in actual time, permitting it to create massive panels of artificial respondents to duplicate trusted market analysis methods and methodologies in a fraction of the time. As a substitute of days or even weeks to collect human suggestions, BASES AI can present idea potential evaluation in as little as 10 minutes. CPG firms can use these scores, in addition to wealthy steerage on drivers of curiosity and uniqueness, to iterate on concepts forward of ultimate qualification with human customers. The velocity and high quality of BASES AI means a bigger quantity of concepts might be evaluated whereas decreasing total innovation timelines. The discharge of BASES AI to Beta-testers in North America is coupled with the discharge of NIQ’s first CPG-specific language mannequin, powering the superior product segmentation capabilities of NIQ’s flagship Uncover retail measurement platform. By leveraging NIQ’s database of 160 million merchandise, the mannequin outperforms public LLM fashions by over 7x in its potential to shortly and precisely code objects. With entry to new accelerators, the mannequin will proceed to evolve in each functionality and class, offering our purchasers with the Full View™ of their market and customers by way of unparalleled insights.

“Because the main shopper intelligence participant, we unlock mission-critical insights,” stated Ramon Melgarejo, President, Strategic Analytics & Insights at NIQ. “In a fast-moving, shopper market targeted on trend-based innovation, high-quality information is important, and the power to harness and extract insights from it should make all of the distinction on the planet. These releases are the newest examples of how we’re deploying our analytic horsepower throughout market-leading information units to generate unparalleled insights that assist CPG firms achieve market share globally.”

NIQ’s world-class product suite brings the facility of two,000 engineers targeted on analyzing $7.2 trillion in annual international shopper spending and information from greater than 3,200 distinctive retailer partnerships. With an intensive set of information sources spanning a number of nations and 1000’s of information scientists targeted on creating accountable AI-driven enterprise intelligence options, NIQ stays the market chief in creating, sustaining, and driving new market share for purchasers.

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BASES AI and NIQ’s CPG language mannequin are the newest AI-powered options amongst NIQ’s huge current product set. The corporate lately introduced the combination of Client Panel and Retail measurement information on the NIQ Uncover Platform, reworking the buyer insights panorama by way of superior analytical fashions and always-on capabilities that ship customizable shopper insights in response to their mission-critical queries. This cloud-based platform is certainly one of a number of current product enhancements together with Microsoft Azure Market integration; Tik Tok Store collaboration; and NIQ Spaceman providers for SPAR Worldwide companions globally. All of those bulletins come on the heels of the corporate’s generative AI instrument with international search, personalised information evaluation, and proposals for knowledgeable choice making, NIQ Ask Arthur, launched earlier this yr.

“The drive to innovate and excel has been coded into NIQ’s DNA for over a century,” added Mohit Kapoor, Chief Know-how Officer at NIQ. “Our accomplished integration of GfK creates an organization with roughly 25,000 purchasers, usually analyzing 2.48 trillion transactions every week. NIQ’s distinctive potential to supply the Full View™ – the world’s most full and clear view of shopper shopping for conduct with AI-powered predictive analytics – permits us to experiment with a good bigger variety of parameters, uniquely positioning us to seize the market alternative for the subsequent 100 years.”

NIQ additionally usually gives distinctive, proprietary insights throughout international shopper developments, together with its newest SpendZ report, a complete have a look at the spending developments of Gen Z and common Client Outlook studies analyzing developments, conduct, and sentiment.

About NIQ
NielsenIQ (NIQ) is the world’s main shopper intelligence firm, delivering essentially the most full understanding of shopper shopping for conduct and revealing new pathways to development. NIQ mixed with GfK in 2023, bringing collectively the 2 trade leaders with unparalleled international attain. Right now NIQ has operations in additional than 95 nations masking 97% of GDP. With a holistic retail learn and essentially the most complete shopper insights—delivered with superior analytics by way of state-of-the-art platforms—NIQ delivers the Full View™.

For extra info, please go to www.niq.com