AI Models Can Predict Purchases Better Than Humans
A new study reveals that AI models can accurately forecast purchase intent, outperforming traditional marketing tools.
Researchers at the University of Mannheim and ETH Zürich found that large language models can replicate human purchase intent by transforming free-form text into structured survey data.
- The study introduced a method called "Semantic Similarity Rating", which converts open-ended responses into numerical ratings.
- This method uses a five-point scale, known as "Likert" ratings, commonly used in consumer research.
Forget focus groups: AI models can forecast whether you want to buy something with striking accuracy.
Author's summary: AI models outperform humans in predicting purchases.