A study published on April 29 by the Boston Consulting Group titled ‘Consumers Know More About AI than Business Leaders Think,’ has shared that consumer understanding and enthusiasm around artificial intelligence is higher than expected. While more than 80% consumers know what Generative AI is, 25% of them are already using it. Based on a survey conducted across 21 countries and 21,000 respondents, the research also answered questions around the usage of AI in the workplace.
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“While perception and usage vary by market, age, and exposure, consumers around the world have a deeper appreciation of AI than we give them credit for,” said Aparna Bharadwaj, global leader of BCG’s Global Advantage practice, former leader of BCG’s Center for Customer Insight, and a coauthor of the study. “These survey findings should be a wake-up call for business leaders, underscoring the need for responsible AI to inform everything they do. If consumers and employees have concerns around data privacy and the ethical use of GenAI, they will not embrace the technology.”
Seventy-five percent users shared that they have used a GenAI-powered app or service with people under 35 showing a higher awareness and usage of GenAI than those over 35 (86% versus 80% for awareness, and 32% versus 20% for usage, respectively).
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Notably, Indians use GenAI in a more mature manner compared to countries like Australia, Germany, Japan and South Korea which still point out ‘just for fun’ as the top most activity that used the tech for. “1 in every 2 Indians who are aware of Gen AI (Chat GPT), end up using it, and this awareness-to-usage conversion ratio is 1.6 times higher for India than the average of all the other 20 countries surveyed,” says Nivedita Balaji, Associate Director, BCG.
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However, despite their openness, respondents also shared a cautious optimism towards GenAI. While 39% of people were hoping its impact would change our daily lives and 32% believed in its potential in driving scientific and medical breakthroughs, they also recognised the downsides. Thirty-three percent were concerned about data privacy issues, 11% were uncertain about it and 10% were worried about its adverse environmental impact
.From a workplace perspective, respondents have a more positive outlook toward GenAI, with 70% excited about the technology. Sixty percent believe that AI will help with learning and education, and 55% anticipate increased efficiency because of it. But people’s attitude towards it depended on their job role.
According to the research, more than half of respondents feel they cannot be replaced by AI, while only 19% expressed concern about potential job loss because of it.