Why Do Consumers Love Generative AI? 

According to the latest report from the Capgemini Research Institute titled “Why Consumers Love Generative AI,” 51% of consumers are aware of the most recent trends in generative AI and have tried out the tools. The use of initial generative artificial intelligence (AI) tools has shown remarkable consistency across different age groups and geographical locations, with more than half of all generations, including Baby Boomers, having utilised this technology. The report delves into how consumers worldwide are employing generative AI applications and how they could play a crucial role in speeding up society’s digital advancement.

Consumers who regularly use generative AI express the highest satisfaction with its applications in chatbots, gaming, and search functions. However, generative AI platforms are increasingly being employed in everyday personal activities as well. A significant majority of respondents (53%) trust generative AI to help with financial planning. On a global scale, 67% of consumers believe they could benefit from using generative AI for medical diagnoses and advice, while 63% are enthusiastic about its potential to assist in more precise and efficient drug discovery. Moreover, two-thirds (66%) of consumers are open to seeking guidance from generative AI regarding personal relationships and life and career plans. Among different age groups, Baby Boomers exhibit the highest inclination (70%) to use it for these purposes. 

Low-Risk Awareness 

Although cyberattacks and deep fakes pose potential threats, consumers have limited awareness of these risks. Consequently, nearly half (49%) of consumers are not worried about the possibility of generative AI generating fake news stories. Only 34% of respondents express concern about phishing attacks. There is also low consumer awareness regarding the ethical implications of generative AI. Just 33% are concerned about copyright issues, and 

“The awareness of generative AI among consumers globally is remarkable, and the rate of adoption has been massive. Yet, the understanding of how this technology works and the associated risks is still very low,” said Niraj Parihar, chief executive officer of the Insights and Data Global Business Line and member of the Group Executive Committee at Capgemini.

Experts warn that by using generative AI ChatGPT and the large language models supporting them, cyber attackers can scale attacks at higher levels of speed and complexity than ever before. Research firm Forrester predicts use cases will continue to proliferate, limited only by attackers’ creativity.

Trust in generative AI is built upon its ability to provide information on critical domains, including financial planning, said Sanjay Katkar, joint managing director and chief technology officer of Quick Heal Technologies.

“However, it is important to recognise the associated risks, such as flawed training data that can lead to biased or inaccurate outputs and so on. Moreover, just as with any other surface, AI itself is prone to cyber-attacks and can be used to create deceptive content, leading to misinformation. Hence, striking the right balance between technological advancement and ethical considerations is the key to using it responsibly.”

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