A new study from the Capgemini Research Institute finds that consumers trust generative AI to assist with financial planning, medical diagnosis, and relationship advice.
Most consumers (51%) know the latest trends in generative AI and have explored the tools. Adopting first-wave generative artificial intelligence (AI) tools has been remarkably consistent across age groups and geographies, with over half of all generations, including Baby Boomers, using the technology. This is according to Capgemini Research Institute’s latest report, ‘Why consumers love generative AI’, which explores how consumers globally use generative AI applications and how it could be the key to accelerating society’s digital future.
Generative AI
Consumers that use generative AI frequently are most satisfied with chatbots, gaming, and search use cases. However, generative AI platforms are also used for personal, day-to-day activities—over half of the respondents (53%) trust generative AI to assist with financial planning.
Globally, 67% of consumers indicated that they could benefit from receiving medical diagnoses and advice from generative AI, and 63% indicated that they are excited by the prospect of generative AI aiding with more accurate and efficient drug discovery. Additionally, two-thirds (66%) of consumers would be willing to seek advice from generative AI for personal relationships or life and career plans, with Baby Boomers the most likely (70%) age group to use it for this purpose.
Consumer awareness around the ethical concerns and misuse of generative AI is low
Despite the potential for cyberattacks and deepfakes, consumer awareness of the risks is low. As a result, almost half (49%) of consumers remain unconcerned by the prospect of generative AI being used to create fake news stories. Only 34% of respondents are concerned about phishing attacks. Consumer awareness around the ethical concerns of generative AI is also low, as just 33% are worried about copyright issues and even fewer (27%) are worried about using generative AI algorithms to copy competitors’ product designs or formulas.
70% of consumers seek recommendations for new products and services
Almost half of the consumers (43%) are keen for organizations to implement generative AI throughout customer interactions, and half of the consumers are excited by the highly immersive and interactive experiences that this technology can enable.
There is a good opportunity for businesses as generative AI tools are already a go-to for 70% of consumers when seeking recommendations for new products and services, and the majority (64%) of consumers are open to making purchases based on these recommendations. There is no significant variation across age groups, and 67% of consumers positively anticipate generative AI’s ability to specifically offer customized fashion and home décor recommendations.
AI Futures Lab to deliver concrete business impact
Capgemini is working with clients on AI and generative AI to respond to their specific business needs, particularly in Life Sciences, Consumer Products & Retail and Financial Services. Through its AI Futures Lab, Capgemini focuses on developing tailored solutions for clients, enabling them to leverage the potential of generative AI in a trusted, secure, and ethical framework to deliver concrete business impact.
The AI Futures Lab is a dedicated team of experts specialized in artificial intelligence from various Capgemini teams around the world, who are focused on following the evolutions of the technology and researching and applying the most relevant use cases in generative AI for clients. The AI Futures Lab creates and delivers assets, education, and awareness to further enrich Capgemini’s expanding expertise in this field and its value to its clients.
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