March 5, 2026
We know that many executives and researchers are now using AI tools. Yes, it’s helpful and saves time. But, it’s not always accurate, and that’s a problem for businesses that rely on good data to plan and make decisions.
Example: Faulty Data
We asked ChatGPT for the size of the U.S. diet soft drinks market in 2025 and the answer that came back was $1.4 billion (source: Grand View Research). That’s WAY off. We know from past data from Beverage Industry and Beverage Digest, plus trade associations and retail sales of soft drinks, that the true number is more like $25.7 billion.
Example: Private Companies
When looking for information about privately owned companies (such as revenues) AI queries fall short, since those companies do not publish annual reports or file 10K statements with the SEC, or issue press releases. ChatGPT scours the Internet for public, published information. For privately owned firms this information doesn’t exist. That’s where market research firms like us come in. We interview competitors, reporters, and others to obtain small company revenue estimates. AI can’t do phone interviews.
Example: Limited Capability
Government Census data, statistics… When asking ChatGPT for government statistics from their surveys, such as the 5-year Census, you will frequently get a response that refers you to the government website or survey name, but not the actual statistics that you need. You still have to look them up, especially if constructing a 10-20 year series. You many have to look up the data from several surveys. Bottom line: AI does only 50% of the job, the rest is in your lap., Again, that’s where Marketdata LLC and our analysts come in. We’ve already don the legwork to retrieve these statistics, plus we’ve added value by manipulating that raw data to derive industry operating ratios, annual percentage growth in receipts – analysis.
Example: Incomplete Sources
Market analysts have cultivated trusted sources, people in the know, sometimes over decades. These include: writers, reporters, market analysts, stock brokerage firm equity research analysts, staff at industry trade associations, consultants, podcasters and influencers, etc. These people supply key information to us via phone and email. They corroborate our estimates and forecasts. They have long-term experience in specific markets and industries. AI does NOT have human contacts like this that it can tap.
Conclusion: Don’t think that AI responses to your queries are always accurate. Don’t think that AI does 100% of your job for you. Don’t think that AI judges whether the information it obtains is good quality or bad, just because it’s on the Internet. The human factor ( a market analyst) is still vital. Your job may depend upon you getting accurate information. AI is just one tool to use — not the end all and be all.