Generative ai consumers are most satisfied with chatbots, gaming, and search use cases.
According to a report by Capgemini Research Institute titled “Why consumers love generative AI,” a majority of consumers (51 per cent) are aware of the latest trends in generative AI and have explored the tools. The adoption of first-wave generative AI tools has been consistent across age groups and geographies, with over half of all generations, including Baby Boomers, having used the technology. The report highlights the potential of generative AI in accelerating society’s digital future.
Consumers who frequently use generative AI are most satisfied with chatbots, gaming, and search use cases. However, generative AI platforms are also being utilized for personal day-to-day activities. Over half of the respondents (53 per cent) trust generative AI to assist with financial planning. Globally, 67 per cent of consumers believe they could benefit from receiving medical diagnoses and advice from generative AI, and 63 per cent are excited about the prospect of it aiding in more accurate and efficient drug discovery. Additionally, two-thirds (66 per cent) of consumers would be willing to seek advice from generative AI for personal relationships or life and career plans, with Baby Boomers being the most likely age group to use it for this purpose (70 per cent).
The report also highlights low consumer awareness regarding the ethical concerns and misuse of generative AI. Despite the potential for cyberattacks and deepfakes, nearly half (49 per cent) of consumers remain unconcerned about generative AI being used to create fake news stories, and only 34 per cent express concern about phishing attacks. Consumer awareness of the ethical concerns of generative AI is also low, with only 33 per cent expressing worry about copyright issues and even fewer (27 per cent) expressing concern about the use of generative AI algorithms to copy competitors’ product designs or formulas.
Niraj Parihar, CEO of the Insights & Data Global Business Line and member of the Group Executive Committee at Capgemini, emphasizes the need for education and safeguards to address concerns about the ethics and misuse of generative AI. Businesses and technology partners play a crucial role in providing education and enforcing these safeguards to ensure the responsible use of generative AI.
The report also highlights the opportunities for businesses, as generative AI tools are already being used by 70 per cent of consumers when seeking recommendations for new products and services. Additionally, 43 per cent of consumers express interest in organizations implementing generative AI throughout customer interactions, and half of consumers are excited about the immersive and interactive experiences that this technology can enable. Customized fashion and home décor recommendations are specifically anticipated by 67 per cent of consumers.
Capgemini’s AI Futures Lab, dedicated to AI and generative AI, works with clients to develop tailored solutions in areas such as Life Sciences, Consumer Products & Retail, and Financial Services. The lab focuses on delivering concrete business impact through the trusted, secure, and ethical application of generative AI.
By leveraging generative AI within an ethical framework and addressing consumer concerns, businesses can tap into the potential of this technology to enhance customer interactions, offer personalized recommendations, and deliver valuable experiences.
Tags: CapgeminiGenerative AI
