60% consumers realise AI's transformative powers: Study

For consumers, AI is serious business, reveals a new survey by Cheil India.

Aptly headlined AI & I - What Indian consumers feel about, and expect from AI in 2024, the quantitative online survey, administered to 1000+ respondents across different age groups, examines the attitude of people towards AI.

Lim Seob Chung, MD, Cheil India, said, “Unlike other recent trends that dominated tech headlines, AI has become mainstream and is here to stay. Its appeal cuts across age groups and gender with each coterie having their own views on it.”

Sanjeev Jasani, COO, Cheil India, said, “It is a first-of-a-kind survey by Cheil India that draws attention to what consumers are feeling about AI given its outsized impact on our life. A good heuristic for many things that hasn’t been captured about it so far.”

Sourav Ray, Chief Strategy Officer, Cheil India, said, “We have uncovered the dichotomy inherent in the beliefs around AI – most consumers are hopeful, yet watchful. Hopeful about its transformative potential, watchful about its use and deployment.”

6 out of 10 people realise the transformative powers of AI and are eager to see and experience its full potential. However, there are key differences across generations & gender.

Millennials feel AI will make their life easier and more fulfilling, by automating menial tasks, and help in fostering connections.

Gen Z wants AI to help them live life the way they want, on their own terms, and prioritises AI applications that customise and personalise the way they experience the world.

While men are somewhat over-excited by AI, women are taking a more measured approach.

Consumers prioritise life-enhancing experiences over just gimmicks across different facets of life like home security, smart home, personalised recommendation for entertainment, customer service and AI generated content.

Across categories, Personal Security comes out as the biggest opportunity area. This has two key aspects – Health and Home.

Arnab Datta Chaudhuri, GM, Integrated Planning, said, “The ongoing conflicts around the world, and the resulting economic uncertainties, coupled with the harrowing experience of COVID-19, have brought personal & financial safety to the forefront.”

Data privacy has emerged as the biggest bottleneck in AI adoption – 64% of respondents think that if they start using AI, all their data will be exposed to AI companies, while 70% are worried about those companies misusing the data they share.

Apart from privacy, multiple concerns loom large. Gen Z is most apprehensive about the loss of jobs due to AI automation and AI overtaking humans in creative fields like writing and Art.

Millennials, on the other hand, believe that bad actors misusing AI are the real problem. Increased hacking by terrorists, social manipulation through AI algorithms, and AI-powered surveillance, are some of the things they caution against.

The survey highlights the fact that, while we expect AI to improve our experiences, it is imperative that we don’t let go of human interactions across all aspects of life. Ray said, “We want AI to give us security, personalisation, convenience. However, interference in emotional aspects, particularly human relationships and intimacy, are clearly off the table. This report will give brands an understanding of how open consumers are to adopting different AI technologies, and what could the key talking points be, as & when they keep adopting these new technologies.”

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