AI Models and Purchase Prediction
A new study reveals that AI models can effectively predict human purchase intent, potentially surpassing individual accuracy.
Researchers from the University of Mannheim and ETH Zürich discovered that large language models can forecast buying decisions with striking accuracy, outperforming traditional marketing tools.
The study introduced a method called "Semantic Similarity Rating," which transforms free-form text into structured survey data, using a five-point "Likert" scale.
AI models can replicate human purchase intent—the “How likely are you to buy this?” metric beloved by marketers.
This approach may render focus groups obsolete, as AI models can provide more accurate predictions of consumer behavior.
Author's summary: AI surpasses human purchase prediction accuracy.