Generative AI, the cutting-edge technology that enables machines to mimic human creativity and produce original content, is experiencing a surge in adoption among consumers worldwide. According to a recent report by Capgemini Research Institute titled ‘Why consumers love generative AI,’ 51% of consumers have explored the latest trends in generative AI and have embraced its applications for both personal and professional needs.
What’s particularly striking is that this adoption is not limited to specific age groups or geographic locations. Baby Boomers, who are often stereotypically associated with being less tech-savvy, are also among the generations that have embraced generative AI. Over half of all generations, including Baby Boomers, have used generative AI tools.
When it comes to the specific use cases of generative AI that consumers find most satisfying, chatbots, gaming, and search functionalities top the list. However, generative AI is also being utilized for personal, day-to-day activities. Over half of the respondents (53%) trust generative AI to assist with financial planning. Moreover, a significant percentage of consumers globally indicated that they could benefit from receiving medical diagnoses and advice from generative AI (67%). Additionally, a majority (63%) expressed excitement about the potential of generative AI to aid in more accurate and efficient drug discovery.
One surprising finding from the report is the low level of consumer awareness around the ethical concerns and misuse of generative AI. Despite the potential for cyberattacks and the creation of convincing deepfakes, consumer awareness of the risks involved remains low. Nearly half (49%) of consumers surveyed were unconcerned about the prospect of generative AI being used to create fake news stories. Similarly, only 34% expressed concern about phishing attacks. Furthermore, only a third of respondents (33%) were worried about copyright issues related to generative AI, and even fewer (27%) were concerned about the use of generative AI algorithms to copy competitors’ product designs or formulas.
Niraj Parihar, CEO of the Insights & Data Global Business Line at Capgemini, commented on the findings, emphasizing the importance of educating consumers about how generative AI works and the associated risks. Parihar highlighted the need for both regulation and responsible business practices to address ethical concerns and safeguard against misuse. He emphasized that generative AI is not inherently intelligent and that the intelligence stems from the human experts who utilize these tools. Building safeguards around the technology is crucial to ensure the quality of its output.
From a business perspective, there is a clear opportunity for organizations to implement generative AI throughout customer interactions. Almost half of consumers (43%) expressed their desire for businesses to incorporate generative AI in their customer interactions. This technology can provide highly immersive and interactive experiences, which excites half of all consumers. Moreover, 70% of consumers already rely on generative AI tools when seeking recommendations for new products and services. The majority (64%) are open to making purchases based on these recommendations.
Capgemini, a global leader in technology services and consulting, is actively assisting its clients in harnessing the potential of generative AI within ethical frameworks. Capgemini’s AI Futures Lab, comprised of a dedicated team of experts, works to develop tailored solutions for clients that leverage the power of generative AI to achieve concrete business impact. The institute focuses on specific sectors, such as Life Sciences, Consumer Products & Retail, and Financial Services.
To conduct the research for this report, the Capgemini Research Institute surveyed 10,000 consumers aged 18 and above in 13 countries across the US, Europe, and Asia Pacific. The survey was complemented by social and search analysis of consumer perception around generative AI. Capgemini utilized various data aggregator tools and examined data sources such as social media platforms and forums in multiple languages.
The growing adoption of generative AI among consumers has far-reaching implications across industries and societies. As society continues to embrace this transformative technology, it is essential to strike a balance between maximizing its potential and addressing ethical concerns. By providing education, enforcing safeguards, and promoting responsible use, businesses and technology partners can ensure that generative AI contributes positively to society’s digital future.
