What's Happening?
Cashew Research, a Calgary-based company, is utilizing AI to transform the $90 billion market research industry. The company develops market research plans and surveys using AI, which are then sent to real people for data collection. This approach allows for quick and cost-effective market insights, making it accessible to small and medium-sized brands. Cashew's method combines AI with human data to provide fresh, customized insights, distinguishing it from fully automated tools. The company has raised C$1.5 million in pre-seed funding and plans to expand its presence in the U.S. and enhance its B2B offerings.
Why It's Important?
Cashew Research's innovative use of AI in market research could significantly lower costs and reduce the time required to gather valuable
market insights. This democratization of market research makes it accessible to smaller businesses that previously could not afford traditional market research services. By providing fresh, human-verified data, Cashew offers a competitive edge in the crowded AI marketing tools sector. As the company expands, it could reshape how businesses approach market research, leading to more informed decision-making and strategic planning across various industries.
