Consumers are optimistic about technology developments in smart machines, AI, and robotics. Here's what your business needs to know.
Despite some anxiety, 80% of consumers said they are excited about how technology developments such as artificial intelligence (AI), machine learning, and on-demand everything will impact society and their way of living, according to a new report from global creative consultancy firm Lippincott.
The firm surveyed 2,000 "leading edge U.S. consumers" to determine their emotional state around technology, and draw conclusions about what the customer of the future will be looking for from businesses. While 40% said they are scared about changes in the economy, society/culture, and government, 64% said they expect the world will be better in 10 years than it is today.
The positivity about the future of technology falls into several categories, the report found. Some 82% said the world is getting more convenient, while 75% said their life is more flexible, and 82% said they feel more efficient. Meanwhile, 79% of consumers said they feel more confident, 72% said they feel more free, and 70% said they feel more unique as a result of technology shifts.
"As leaders, it's our responsibility to help [consumers] make the most of tomorrow's capabilities and ensure that their optimism materializes," according to a press release. "It's our mandate to keep up with their ever-increasing expectations for immediacy, relevance, and customization. And it's our opportunity to earn their loyalty."
Some 86% agree that they are now more dependent on technology than in the past. However, they also said they view that dependence optimistically, as a source for valuable information, convenience, and control.
Many critics have brought up the trade-offs of our digital age, including a loss of privacy and increased distraction. However, Lippincott's report found that only 12% of consumers said they feel technology developments have made them feel less safe. And 64% said they are happy to trade privacy for personalization in products.
In terms of the Internet of Things (IoT) and advances in machine learning, consumers are on board: Some 78% reported feeling more powerful and in control of their lives as a result of having constant support from smart machines, AI, and robotics. These leading-edge consumers are very trusting of machines: 62% of these customers said they would rather make decisions based on intelligent apps and crowdsourced information, instead of the advice of friends and family, the firm found.
What does this mean? If your enterprise is beginning to implement AI or IoT products, the future looks bright for business. As leading customers embrace technology and personalization, a number of opportunities exist to deliver products and services to meet their needs.
The 3 big takeaways for TechRepublic readers
1. Some 80% of leading-edge consumers said they are excited about how technology developments such as AI, machine learning, and on-demand everything will impact their lives, according to a new report from Lippincott.
2. These consumers embrace personalization over privacy, and said they feel empowered by the constant support available from smart machines, AI, and robotics.
3. Businesses can capitalize on this information about the customer of the future when making decisions about integrating AI and new technologies into products.
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