Both fear and optimism surrounds artificial intelligence (AI), according to new studies by Ipsos and Capgemini.
More than half of adults (52%) are nervous about AI products and services. Meanwhile, 74% of business executives believe the benefits of generative AI will outweigh the associated concerns.
Should we fear AI?
The Ipsos survey, which investigated responses to AI across 31 countries, noted that nervousness increased the most since a previous survey conducted 18 months ago. Trust in AI was revealed to be higher among younger generations like Gen Z, and those with higher income.
Despite this apprehension, just over half of respondents (54%) agreed that AI-based and services have more benefits than drawbacks. The excitement for AI was found to be highest in emerging markers and lowest in Europe and North America.
Two in three respondents also believed that AI-powered products and services will profoundly change their daily life in the coming years. Just a third expect AI to improve their job and country’s economy. More than half (57%) think AI will change the way they do their current job and 36% believe it will replace their current job.
Ipsos found that understanding surrounding AI has increased slightly since their previous global survey in December 2021, but familiarity of AI products and services has scarcely changed.
“While AI is becoming more prevalent, there hasn’t been a corresponding increase in consumer awareness of the role AI plays in different technologies they use daily,” said Ipsos.
Is AI good for your business?
Capgemini’s report revealed that 74% of executives believe the benefits posed by generative AI outweigh the associated concerns. Almost half of organisations (49%) are even contemplating putting teams and budgets together for AI in the next year, while 40% have already done so.
“Many organisations already see generative AI as a powerful tool that can accelerate growth, enhance capabilities, and unlock new opportunities without drastic restructuring of business models,” said Capgemini.
The prevailing AI-based tool was revealed to be chatbots that can be used to automate customer service and improve data management, while other generative AI solutions can make product service design more efficient and accessible.
“Generative AI is a transformational force for innovation in organisations, accelerating industry specific use cases to create value, and it’s no surprise that it’s already at the top of the agenda of virtually every large organisation,” said Franck Greverie, Chief Portfolio Officer and Group Executive Board Member at Capgemini.
Executives expected AI integration to result in an 8% increase in sales and a 7% decrease in costs. Those surveyed determined that they could also expect a 9% improvement in both customer engagement and satisfaction, and operational efficiency.
Contrasting the fear that AI will replace jobs, the Capgemini report revealed that 69% of executives believe generative AI will lead to the emergence of new roles such as AI auditors and AI ethicists.
However, many executives (68%) believed that workforces will require significant investment in upskilling and cross-skilling of talent, and cultivating trust will remain important.
“While generative AI can enable numerous benefits for businesses and employees alike, adopting a human-centric approach while scaling the technology and implementing necessary guidelines will be key to fostering trust in the workplace. As businesses accelerate their generative AI journeys, they must prioritise implementing it sustainably across the organisation,” added Greverie.
With governments and public figures across the world acknowledging concerns surrounding AI, white papers and regulations are being drawn up to ensure the ethical use of this burgeoning technology.
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