Artificial Intelligence for BoP market data
How can existing data on the BoP market be collected and analyzed using artificial intelligence?
What can artificial intelligence do for market research?
Artificial intelligence provides algorithms to automatically identify relevant information on the internet and analyze its content for specific uses. It enables enterprises to make better informed business decisions and develop services or products that exactly meet the needs of their target group. It can complement or even save businesses costly and time-intensive market research.
Why do we need BoP market data?
Companies and investors still cite the lack of market data as one of the major impediments to investing in low-income markets. Without a solid understanding of the income and spending patterns, preferences and challenges of the low-income target group, it is difficult to calculate a robust business case, find the appropriate price point, or identify the best market segment. As a result, companies either stay away from the market, or face high upfront costs for market research that they may not be able to recuperate if they don't find the expected market demand.
At the same time, data on low-income markets already exists. Public organizations like the World Bank or national governments commission hundreds of reports each year that highlight earnings, spending and consumption patterns of people living at the BoP. This data, however, is often difficult to access and too high-level.
In addition, inclusive businesses have started to collect data on their customers. Energy companies, for example, have already reached around 440 million households at the BoP with their services. Many of them regularly collect detailed data as part of their customer interactions, including via mobile transactions. They are keen to monetize this valuable data, but so far no means to market it effectively.
Combining the data sets of public and private players would make the BoP market a lot more transparent and accessible for companies and investors.
Who would we like to attend?
The artificial intelligence for BoP market research track will l bring together
- Inclusive energy businesses that collect millions of data points on spending and consumption patterns of their customers every year
- Public sector agencies commissioning BoP market research
- Artificial intelligence experts from the academic and corporate world
- Market research institutes that could market the data
- Investors, banks and businesses that are interested in aggregated data for BoP markets
If you fit one of these profiles, please apply for an invitation through our registration process.
How will we create impact?
The purpose of the track is to develop concrete solutions to make use of the large amount of data that is already available on BoP markets. Ideally, an integrated solution will combine existing BoP market data from public research projects with a large set of different data sets that are collected by companies in developing and emerging markets every second.
After the event, participants are invited to continue the collaboration with facilitation from the ii2030 team.
Aljoscha Burchardt and Sven Schmeier, German Research Center for Artificial Intelligence
Machines driven by AI and machine learning can do magic things like searching tens of thousands of CT scans for anomalies within seconds or translating hundreds of billions of words per day. These achievements were enabled by the availability of suitable training data and clear 'questions to the data'. Creating new AI solutions means teaming up domain experts, pooling data, and developing questions.
Our tour guides take participants on an exploration of Berlin’s buzzing inclusive innovation scene to provide inspiration and information for each track.
The 4-hour tour takes participants to 3 visionary organizations, where hosts will lead a discussion on how greater inclusion in their sector will impact society in 2030.
The day will end with a “Meet & Greet” networking dinner. Participants from all tracks reconvene over dinner to share what they have learned and get to know one another.
Participants gain inspiration from and knowledge on the various perspectives of how inclusive innovation will create positive change. They gain an up-close-and-personal look into the three organizations, connect with their leaders and use the inspiration to guide and motivate them through their co-creation journey at the Inclusive Innovation Factory and beyond.
Boond is an energy access enterprise operating in the remote parts of India.
We will learn about the challenges and opportunities for intelligent market data to improve access to energy in remote areas.
German Research Center for Artifical Intelligence (DFKI)
DFKI is currently the biggest research center worldwide in the area of Artificial Intelligence.
We will learn about the potential of artificial intelligence to shed light on low-income market data.
Mobisol sells solar-homy system, providing low-income consumers in East Africa with access to clean, affordable and reliable solar energy.
We will learn about the low-income customers of Mobisol, and what data the company generated.
In a design-thinking workshop of up to 10 participants, we will work out how technology can drive inclusive innovation, and what is needed to achieve a solution. Participants are carefully selected to bring together those actors who can make the change.
Throughout the day, a networking assembly line, factory whistle speeches and a canteen exhibition will allow participants to get inspired and connect outside their workshop.
An ii2030 online platform will be used for participants to start connecting and preparing for the workshop prior to the event and to continue their collaboration following the co-creation workshop. In the follow-up, the team will receive support from Endeva as they work on improving and implementing the solution in the field.
Design-thinking methodology is a collaborative solution-based approach to solving complex challenges. The strategic process will guide the team of like-minded partners in co-creating concrete, innovative and user-friendly solutions in a 1-day, action-packed workshop.
At the conclusion of the 1-day co-creation workshop, participants of the track will have developed a concrete solution that will leverage the vast amount of publicly available BoP market data. The solution will systematize aggregation of data into a standardized framework, and facilate auto-updates to include newly generated datasets into the system.