Innovation has always been the biggest challenge in developing new products. If we look at the common traits of scientists who have made the most innovative discoveries in history, we can find something interesting.
Einstein came up with the principles of the universe while playing the violin, and Galileo and Pythagoras made new discoveries by combining music and mathematics. The secret to their success was that they used both analytical thinking and creative intuition.
Today, this dual approach is also needed in the development of new products, and the latest AI technology is making this possible.
Let's recall the examples of great scientists. Just as they used a combination of analysis and intuition, modern AI technology is also developing in two ways.
Predictive AI analyses data and finds patterns, just like the left brain of a human. Generative AI generates creative ideas, just like the right brain. The combination of these two approaches is creating a revolutionary change in new product development.
Today, new product development faces greater challenges than ever before. The reality that 75% of new products launched on the market fail shows this well. Companies invest huge resources but cannot guarantee success.
A report from a professional market research agency costs millions of won per case and takes nearly a month. However, by the time the results are received, the market has already changed in most cases.
Consumer preferences change in real time through social media, and the emergence and disappearance of new trends have become very short. Existing statistical models have fundamental limitations in predicting future changes because they only analyse patterns in historical data.
In addition, it is difficult to analyse multiple data sources in an integrated manner, resulting in only fragmented insights. These limitations are leading to a high failure rate.
The answer to these challenges lies in AI. AI can increase speed and efficiency at every stage of new product development. This applies to various aspects of the product, from its function to its design.
Generative AI helps innovate product design, shorten time to market, and improve customer experience.
Predictive AI can help derive new product ideas, predict market trends, and identify customer needs by analysing vast amounts of data. AI-based predictive modelling and generative design algorithms help optimise product performance and improve sustainability.
In addition, AI plays an important role in optimising manufacturing processes, improving product quality, and reducing operating costs.
The true value of AI technology comes from combining two approaches: prediction and creation.
Predictive AI analyzes vast amounts of data to predict market movements, just like an experienced market analyst. It comprehensively analyzes real-time changes in consumer preferences, competitor trends, and market conditions to derive the characteristics of products with high chances of success.
Generative AI, on the other hand, proposes innovative product ideas, just like a creative designer. In one hour, they create more than 100 new product concepts, each with detailed features and benefits.
More importantly, these two AI work together. The ideas generated by the generation AI are immediately analysed by the prediction AI to verify their marketability. This collaboration creates the perfect balance of creativity and analysis, allowing for the development of innovative and highly successful products.
The introduction of AI brings innovative changes to the entire new product development process. It used to take an average of 12 months from product planning to launch, but using AI can reduce this to less than half.
In the idea discovery stage, generative AI suggests various concepts that reflect market trends and consumer needs. In the product specification determination stage, predictive AI predicts the market response for each specification to find the optimal combination.
When establishing production plans, AI minimises inventory risk by accurately predicting demand. When establishing marketing strategies, AI suggests the optimal message and channel for each target customer group.
As the entire process is transformed into data-based scientific decision-making, the probability of success in developing new products increases significantly.
The adoption of AI by global companies clearly demonstrates its effectiveness.
In the automotive industry, AI has been used to dramatically reduce the time it takes to develop new cars. Generative AI creates thousands of design concepts, and predictive AI analyses the marketability of each design to select the best one.
The designs that emerged from this process have been well received in the real market, and the consumer preferences analysed by predictive AI and the actual market response were remarkably consistent.
AI is also making a big difference in the consumer goods industry. In particular, in the fast-moving fields of cosmetics and fashion, AI has greatly increased the success rate of new products by accurately capturing consumer needs.
In the food industry, AI has enabled efficient product portfolio management by suggesting new flavors and combinations and accurately predicting the market performance of each product.
Deepflow is at the heart of this AI innovation. Deepflow is an integrated solution that combines the strengths of both predictive and generative AI, boasting a prediction accuracy of 90.1%.
This is due to its powerful data processing capacity, which analyzes more than 50,000 data points in real time. In particular, the dynamic model competition system, in which more than 200 predictive models compete in real time to produce the best results, is a unique technology of Deepflow.
It also instantly detects changes in the market by integrating and analyzing various data, including social media data, search trends, competitor trends, and economic indicators.
The solution is cloud-based, making it easy to adopt, and its intuitive interface makes it easy to use even for non-AI experts. With Deepflow, companies can immediately detect changes in the market and respond to them proactively.
Now that new product development can no longer rely on intuition and luck, Deepflow offers a scientific approach that dramatically reduces market uncertainty.
It captures even the smallest changes in the market through real-time data analysis. It enables proactive response by predicting the movements of competitors in advance. It discovers hidden needs of consumers and creates new opportunities.
In particular, Deepflow's AI engine continues to improve the accuracy of its predictions through continuous learning. This means that it provides more sophisticated insights over time. This allows companies to take on the challenge of developing more bold and innovative products.
The accurate market predictions provided by Deepflow reduce anxiety about innovation and enable greater challenges.
The paradigm of new product development is changing. AI is no longer an option, but a necessity.
Deepflow presents new possibilities to companies at the centre of this change. As a strategic partner in new product development that goes beyond simple analysis tools, it supports companies' innovation and growth.
From real-time data analysis to accurate market forecasting, Deepflow makes every stage of new product development more scientific and efficient.
In a market environment with high levels of uncertainty, Deepflow will provide companies with a clear direction and serve as a reliable guide for the successful development of new products. Now is the time to embark on a new journey of innovation with Deepflow.
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