One of the great benefits of artificial intelligence (AI) is its ability to simplify and accelerate time-consuming tasks. Conducting a strengths, weaknesses, opportunities, and threats (SWOT) analysis is one of those tasks. A SWOT analysis is a fundamental first step in building a business, but it can take a few days to thoroughly complete your research.

AI can shorten that timeline to just a few minutes. Here’s how to write strong AI prompts and combine your own market research to get a thorough, fast SWOT analysis with actionable results.

[Read more: What Is a SWOT Analysis and How Do You Perform One?]

Prompting AI for strengths and weaknesses based on your business model

The quality of the AI-generated result depends entirely on the prompt you give the model. The more detailed and descriptive the prompt, the better the results.

Writing a good prompt starts with knowing the specific purpose of your analysis. Do you want a SWOT analysis performed for a new business venture, a product line, or a business model? Define your goals so you can make sure the AI tool focuses on the right thing.

Ask your AI tool to process consumer feedback on social media and websites, scan industry reports, and generate actionable insights to get a more complete picture from your SWOT analysis.

Here are a few examples of prompts you can use to get a first draft SWOT table from an AI tool.

  • From AI Academy: “Act as an expert Market Analyst. Create a comprehensive SWOT analysis for [Company Name], a [brief company description] operating in [industry/sector]. Consider the following in your analysis:
    • Company background: [Key products/services, market position]
    • Current market trends in [industry]
    • Main competitors: [List key competitors]
    • Target audience: [Describe ideal customers/users].”
  • From ClickUp: “Perform a SWOT analysis for our business, identifying our strengths, weaknesses, opportunities, and threats in the market. Provide actionable recommendations on how to leverage strengths, overcome weaknesses, seize opportunities, and mitigate threats: [Insert details about your business and industry].”
  • From Neatprompts: “Conduct a comprehensive SWOT analysis for a [Company Type], focusing on [Key Business Objective]. Identify the internal strengths and weaknesses of the company, as well as external opportunities and threats related to [Specific Market or Industry]. The analysis should provide actionable insights that align with the company's long-term goals and competitive landscape.
    • Company Type: [Insert here]
    • Key Business Objective: [Insert here]
    • Specific Market or Industry: [Insert here].”

You may need to ask for refinements after you read the initial results. You might upload industry reports, your business plan, or early focus group results for the AI to consider in its response. Keep feeding the engine information until you’re satisfied with the result.

[Read more: 10 ChatGPT Prompts That Could Help Grow Your Small Business]

How to use AI to research market trends, threats, and competitor activity

AI tools can complement a SWOT analysis with market research, dramatically accelerating the time it takes to research consumer trends, competitors, and threats such as regulatory changes that could endanger your business success. AI can analyze vast amounts of data to spot patterns that you might miss in your own research.

“As an added benefit, by using AI tools, researchers minimize the risk of human error and bias in their data analysis, leading to more accurate and objective results,” wrote Quantilope, a consumer intelligence platform.

Ask your AI tool to process consumer feedback on social media and websites, scan industry reports, and generate actionable insights to get a more complete picture from your SWOT analysis. In your prompt, include a request for the tool to cite its sources; this way, you can double-check that the information the AI generates is verifiable and reliable.

Top AI tools to conduct and visualize a SWOT analysis

Any generative AI tool can give you the results you need with the right prompt, and they even format the results to your request. Some AI tools, however, are specifically designed to create SWOT analyses. Here are a few:

  • Jeda.ai offers a Multi-Model Visual Generative AI Workspace that can create strategic frameworks and templates like SWOT analyses.
  • MyMap.AI uses a generative chat tool to learn about your strengths, weaknesses, opportunities, and threats and create a custom SWOT table.
  • Plania.ai works similarly to MyMap, asking a series of questions to design a chart for you.

Some project management tools, including ClickUp and Asana, include SWOT templates that integrate AI. For instance, this template on Notion integrates AI to lead you through prompts that improve your analysis and speed the process.

CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

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