Proprietary research with consumers and developers found that current AI names lack emotion and innovation but there is opportunity to instill personality
SAUSALITO, Calif., May 14, 2024 /PRNewswire-PRWeb/ -- Naming AI brands and products needs to be done with more nuance and consideration than traditional technology brands, according to new research released today from Lexicon Branding. Lexicon Branding, a global leader in the development of corporate and product brands, funded an international study with consumers and developers to identify the best strategies for branding new AI companies and products and determine which brand attributes are most critical to success. Lexicon Branding is the naming company behind billion-dollar brands and iconic names including BlackBerry, Sonos, Swiffer, Pentium, Dasani and Impossible Foods.
The research shows that current AI brands lack a high level of emotional appeal. While using an AI-based product like ChatGPT, all participants surveyed described the experience as delivering greater access to intelligence. However, there was little evidence of emotional appeal. Although nearly half of US consumers reported feeling somewhat smarter, fewer than 1 in 6 reported feeling enthused, energized, relaxed or happy.
On the other hand, developers reported feeling creative, optimistic, and independent when using AI. The takeaway is that if AI technology is truly the driver of the new brand, consider brand behaviors and naming that echo and amplify the same emotions of creative, optimistic, and independent.
"The findings show that consumers are looking for an emotional connection with AI that describes how it makes them feel or what it will enable them to do. But with such disparate emotions related to AI, there needs to be an emotional balance with naming," said David Placek, founder and CEO of Lexicon Branding. "We believe that more natural, less artificial names as well as those that tell a story will help brands deliver value in the long run."
The study also found that the healthcare industry is one where AI may make the biggest positive impact. Both consumers and developers surveyed are hopeful and optimistic about AI's ability to improve diagnoses and create personalized treatment plans, yet also cautious about trusting AI to make healthcare diagnosis. There is a branding opportunity to support current products / services with AI or launch new AI-focused products that can build on consumer optimism to create new, positive perceptions for existing or new healthcare brands.
"The lessons we have learned working with Nvidia, Intel, Google, Microsoft, Sony, Apple, and Meta, and with dozens of Silicon Valley startups will be applied to the next generation of AI companies," said Placek. "We want to put branding at the heart of new AI companies, creating new brands with asymmetric competitive advantage."
The research was conducted with 350 consumers and developers in the United States and Germany, during the time period of March 26-April 3, 2024. The participants had to be aware of ChatGPT. In addition, the report combined the survey with one-on-one interviews with Lexicon clients and interviews with Lexicon linguists in key markets.
To receive a full overview of the research, please reach out to Kennedy Placek at [email protected]
About Lexicon Branding
Lexicon Branding is a global leader in delivering brand names for mission-critical products, services and companies. For more than 40 years, the company has been both an innovator and pioneer, developing brand names and brand language for startups, Fortune 500 companies, and new technologies. All requiring the highest levels of problem solving, creativity, linguistics, and customer insights. Many of the names created by Lexicon continue to deliver enduring value for dozens of billion-dollar brands. The company offers a fully integrated portfolio of services and works across industries including technology, mobility, sustainable energy, CPG, and communications. For more information visit www.lexiconbranding.com
Media Contact
Dori Busell, Lexicon Branding, 1 9176893415, [email protected], WWW.LEXICONBRANDING.COM
SOURCE Lexicon Branding
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