You can use this one ChatGPT prompt to conduct hours of market research in mere minutes

If you’re short on time, there’s a smart feature you can use on ChatGPT that’ll perform hours of market research in just a few minutes. 

Millions of workers turn to AI to help boost their productivity and save time on monotonous tasks. 

And last week, ChatGPT updated its Deep Research feature with some cool new abilities that can save you a lot of time. 

So, instead of spending hours conducting and compiling market research, you can simply prompt your AI helper to do it, and it yields some impressive results. 

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The Deep Research feature on ChatGPT can smash through your market research

The Deep Research feature is available to all paying ChatGPT customers, and it really packs a punch. 

“Get faster, more accurate research using authenticated sources and real-time control over the entire process,” OpenAI explains.

In short, it can cut through hours of work in minutes, but, as ever with ChatGPT, knowing how to prompt it is key.

Thankfully, Dan McCarthy, an associate professor of marketing at the University of Maryland, knows what to do, and he recently explained it to Inc. 

To get started, you’ll need to click the little + next to the text box, find More, and then hit Deep Research.

Here you’ll need to come up with a prompt, and because you’re hoping to get a lot of information from ChatGPT, the more detail you give, the better. 

If you’re feeling a bit stumped, then you can actually ask ChatGPT to help you come up with a suitable prompt.

Tell it what you’re hoping to gain and then ask something along the lines of ‘given what I’ve just said, what do you think is the best thing I should ask you?’

For example, if you were considering opening a new taco stand near where you live and wanted to get a feel for things first, you could explain to ChatGPT that you’d like to know about local competition, including things like prices, customer reviews, location, and how long they’ve been around. 

You could then ask ChatGPT to look for this information in specific places, like TripAdvisor, local government sites to check for licensing, and social media for comments or reviews. 

After giving some details on what you’re after, you can tell the chatbot to create a prompt and then feed this prompt back into ChatGPT. 

When trialed by Inc, ChatGPT created a 673-word prompt, which then generated a lengthy report, something that would have taken hours, if not days, to compile by hand. 

You can also prompt AI to tear apart its own reasoning

AI is great for getting fast answers without putting in a lot of effort.

However, at times, it can feel a little bit like a ‘yes man’ that just agrees with whatever you say. 

Fortunately, there’s an easy prompt you can use that will force the AI bot to tear apart its own logic. 

Next time you ask it something, and it provides a response, reply with the words: Convince me otherwise. 

This will make ChatGPT go back through its original answer and look for any weaknesses in the argument or cracks in the logic.