The recent The New Yorker article, “A.I. vs. M.D. – What Happens When Diagnosis is Automated?” explores the benefits and challenges of applying machine-learning and algorithms to medical diagnosis. It will only get better with time, yet that time is one thing many ill patients simply don’t have.
Alas, AI may never be the answer for marketing, given the emotion involved. But this did remind us of one firm in our business that has had great success applying prediction markets in a new way to market research and brand development.
Denver-based Intengo harnesses the power of prediction markets and “gameful design” in its patented platform to significantly enhance both the speed and accuracy of solving many branding and market research problems. Employing the “Wisdom of the Crowd,” and a unique twist on HOW you phrase a survey question, Intengo has also really changed the game on screening and developing new brand concepts and positioning.
Rather than repeating what’s articulated very well on their site, I’d encourage any of you who are curious to simply reach out to our friend, colleague, and Insights Curator at Intengo, Sandy McCray.
Sandy’s expertise includes a great mix of both market research/strategy – and cutting-edge consumer data. Her career path includes National Demographics & Lifestyles (NDL), the ground-breaking Cohorts household-based segmentation system, and partner at research giant, Yankelovich.
According to Sandy at a recent BMA presentation, “It’s been proven that people will report their intentions. Yet they’re far better at predicting the actual behavior of others – which is why we believe in the collective wisdom of crowds.”
So what does Intengo have to do with medical diagnostics?
Interestingly, Sandy shared that one of Intengo’s prediction market creators also launched the firm CrowdMed, which uses the Wisdom of the Crowd to help patients with potentially complex diagnoses. The founder’s sister and her baffling medical problems were the inspiration for the company – you can read about them here.
So while the medical field still may be evolving in its quest to use AI and automation, it is clearly gaining from crowd-sourced assistance with diagnosis.
But where it’s really having an immediate impact is in the branding and marketing space.