Just over half (51%) of consumers are aware of the latest trends in generative AI and have explored the tools, with adoption of first-wave generative artificial intelligence (AI) tools consistent across age groups and geographies, with over half of all generations having used the technology, according to the latest Capgemini Research Institute report.
Consumers that use generative AI frequently are most satisfied with chatbots, gaming, and search use cases, however, generative AI platforms are also being used for personal, day-to-day activities. Over half of the respondents (53%) trust generative AI to assist with financial planning.
Globally, 67% of consumers indicated that they could benefit from receiving medical diagnoses and advice from generative AI, and 63% indicated that they are excited by the prospect of generative AI aiding with more accurate and efficient drug discovery.
In addition, two-thirds (66%) of consumers would be willing to seek advice from generative AI for personal relationships or life and career plans, with Baby Boomers the most likely (70%) age group to use it for this purpose.
Despite the potential for cyberattacks and deepfakes, consumer awareness of the risks is low. As a result, almost half (49%) of consumers remain unconcerned by the prospect of generative AI being used to create fake news stories, and just 34% of respondents are concerned about phishing attacks.
Consumer awareness around the ethical concerns of generative AI is also low, as just one-third (33%) are worried about copyright issues and even fewer (27%) are worried about the use of generative AI algorithms to copy competitors’ product designs or formulas.
Awareness of generative AI among consumers is remarkable and the rate of adoption has been massive, yet the understanding of how this technology works and the associated risks is very low, according to Capgemini group executive committee member and CEO of the insights and data global business line, Niraj Parihar.
“While regulation is critical, business and technology partners also have an important role to play in providing education and enforcing the safeguards that address concerns around the ethics and misuse of generative AI,” he said.
“For example, our role at Capgemini is to help clients cut through the hype and leverage the most relevant use cases for their specific business needs, within an ethical framework. Generative AI is not ‘intelligent’ in itself; the intelligence stems from the human experts who these tools will assist and support. The key to success therefore, as with any AI, is the safeguards that humans build around them to guarantee the quality of its output.
“Almost half of consumers (43%) are keen for organisations to implement generative AI throughout customer interactions, and half of consumers are excited by the highly immersive and interactive experiences that this technology can enable. There is good opportunity for businesses as generative AI tools are already a go-to for 70% of consumers when seeking recommendations for new products and services, and the majority (64%) of consumers are open to making purchases based on these recommendations.”