70% Of Consumers Excited For GenAI At Workplace, Only 43% Enthusiastic About Its Impact On Daily Life

BW Online Bureau May 04, 2024

As per the report, those in process-intensive, office-based support function roles (such as marketing and communications, and finance & accounting) feel most threatened by AI, while those in relationship-intensive roles (such as house helpers/babysitters, teachers, doctors, nurses, and pharmacists) feel least threatened

In a mere five days, ChatGPT amassed a million users, solidifying its status as a household name and highlighting a widespread public fascination with artificial intelligence. According to new research by Boston Consulting Group (BCG), consumers’ knowledge and excitement about AI is surprisingly high.

The research, published today in an article titled Consumers Know More About AI than Business Leaders Think, is based on a survey conducted by BCG’s Center for Customer Insight to measure the level of awareness of AI and generative AI (GenAI), as well as usage and sentiment among 21,000 respondents from 21 countries across six continents. It also explored questions relevant to the use of AI in the workplace.

“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.”

“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. Interestingly, Indians exhibit more mature usage of Gen AI with “Research & assistance at workplace” being among the top activities performed using Gen AI, versus ‘just for fun” being among the top stated activities in countries like Australia, Germany, Japan, South Korea” says Nivedita Balaji, Associate Director, BCG.

Over 80 per cent of survey participants demonstrated an awareness of GenAI, with a quarter already having used the technology. Seventy-five per cent reported that they have used a GenAI powered app or service in a variety of ways to address unmet needs. Individuals under 35 reported higher awareness and usage of GenAI than those over 35 (86% versus 80% for awareness, and 32% versus 20% for usage, respectively).

Cautious Optimism among Consumers

Consumers demonstrate a nuanced understanding of AI and its positive and negative aspects. While excitement about AI is prevalent, a notable portion of consumers surveyed display an insightful awareness of its potential downsides if not implemented responsibly. About 40 per cent of consumers indicate that they are excited about the various uses of AI, while 28 per cent report that they feel conflicted. Consumers also voiced outright concerns about AI, with 33 per cent worried about data security and the ethical use of AI, and 30 per cent worried about the possibility of AI replacing workers in certain jobs. Ten per cent of consumers expressed concern about the environmental impact of GenAI.

BCG’s study details a “misinformation-excitement-concern curve.” Initially, consumers are worried about AI due to misinformation and myths. However, with increased experience and use of GenAI, consumers simultaneously exhibit more excitement and more concern about the nascent technology.

Greater Excitement about AI in the Workplace

Those surveyed recognise the value AI can provide, especially in enhancing daily life, with 39 per cent of respondents expressing optimism about its impact in this regard, followed by 32 per cent expressing enthusiasm for its potential in driving scientific and medical breakthroughs.

From an employee perspective, respondents have a more positive outlook toward GenAI, with 70 per cent excited about the technology. Sixty percent believe that AI will help with learning and education, and 55 per cent anticipate increased workplace efficiencies.

Workplace attitudes toward AI often correlate with job roles. According to BCG’s research, more than half of respondents feel they cannot be replaced by AI or other technologies, while only 19 per cent express feelings of vulnerability or concern about potential job displacement. Those in process-intensive, office-based support function roles (such as marketing and communications, and finance and accounting) feel most threatened by AI, while those in relationship-intensive roles (such as house helpers/babysitters, teachers, doctors, nurses, and pharmacists) feel least threatened.

Openness to AI is Not Synonymous with Market Maturity

Sentiments regarding AI vary widely across countries, encompassing a spectrum of emotions ranging from excited to conflicted to concerned. While feelings about AI are polarized in every country, some countries are more receptive to the technology than others. Of the 21 countries surveyed, excitement was highest in China (56%), Indonesia (49%), and Brazil (46%), while respondents in France (50%), Australia (49%), and the UK (43%) exhibited the most concern.

Countries with younger populations, which tend to have greater technical and digital experience, generally exhibit greater excitement. Concern is higher in some countries with digitally competitive economies, where consumers may feel more threatened by issues around AI, such as privacy concerns or its impact on jobs. Many businesses in these markets are already introducing GenAI into operations. In less digitally competitive countries, excitement prevails as AI presents an opportunity to expedite solutions to critical issues in areas like health care and education.

Implications for Leaders

GenAI is here to stay and it presents extraordinary opportunities for both productivity gains and topline growth. For leaders who want to harness the transformative power of GenAI for business success, key implications emerge from the survey findings:

When looking to invent new applications for consumers, double down on transparency and balanced sell.
Pilot new ideas and products in markets that are more receptive to AI/GenAI and consider a tailored approach to privacy.
As companies roll out new AI offerings, it’s important to reassure customers before the applications scale too fast.
Corporate AI applications are more mature and more likely to be adopted and scale faster than applications that consumers can use in their day-to-day lives.
While data and tech are important, keep in mind the 10-20-70 rule: 10 per cent of the effort involves building new algorithms and the science behind them; 20 per cent of the effort involves deploying the tech stack and ensuring the right data feeds into the right systems; and 70 per cent of the effort involves change management and other processes related to people. People and process changes are critical success factors. Be aware of the cultural nuances of AI/GenAI, which vary by country.

“For business leaders developing and deploying AI-enabled solutions and transformations, it’s critical that they build trust by respecting consumers’ views, navigating the misinformation-excitement-concern curve smartly, and tapping the pockets of excitement in emerging markets,” said Jessica Apotheker, BCG’s chief marketing officer and a coauthor of the publication.