Wednesday, April 24, 2024

g-f(2)2285 AI Awareness Surprises: Consumers Know More Than Expected

 


genioux Fact post by Fernando Machuca and Copilot



Introduction: 


In the ever-evolving landscape of artificial intelligence (AI), consumers exhibit surprising knowledge and enthusiasm. Business leaders must recognize and respect this awareness when developing AI-enabled solutions.



genioux GK Nugget: 


"Consumers are more knowledgeable and excited about AI than anticipated, with 75% having used AI-driven tools like ChatGPT." — Fernando Machuca and Copilot, April 24, 2024



genioux Foundational Fact:


  • High Awareness: Consumer awareness of AI is remarkable across surveyed countries. For instance, over 90% of consumers in India and the United Arab Emirates have heard of ChatGPT.
  • Usage and Appreciation: Consumers actively use AI tools for comfort (improving well-being) and customization (meeting personal objectives).
  • Excitement and Concern: Prior to using AI, people tend to have more negative feelings about the technology. However, excitement increases after experiencing AI.
  • Building Trust: Business leaders should respect consumers’ views, counter misinformation, practice responsible AI, and tap into existing excitement.



The 10 Most Relevant genioux Facts:





  1. Broad Public Interest: AI, especially generative AI (GenAI), has captured public interest.
  2. Consumer Awareness: Consumers are surprisingly knowledgeable about AI, with awareness exceeding 80% in markets like China and Saudi Arabia.
  3. ChatGPT Usage: Over 90% of consumers in India and the UAE have heard of ChatGPT.
  4. Three Cs of AI: Consumers appreciate AI’s comfort (well-being improvement) and customization (meeting personal goals).
  5. Excitement and Concern: Respondents express a mix of excitement (43%) and concern (29%) for lifestyle uses of GenAI.
  6. Workplace Excitement: Workplace AI generates higher excitement (70%) and less concern (15%).
  7. Misinformation-Excitement-Concern Curve: People start with more negative feelings about AI but become more positive after using it.
  8. Trust Building: Business leaders must respect consumer views, counter misinformation, and practice responsible AI.
  9. Rapid Adoption: ChatGPT gained a million users in just five days.
  10. Understand Consumers Deeply: Don’t underestimate consumers; understand their nuanced perspectives.





Conclusion: 


Consumer insights are invaluable guides for developing and deploying AI solutions. Trust-building and responsible AI practices are essential for successful deployment in this AI-savvy world.



REFERENCES

The g-f GK Context


Nivedita Balaji, Aparna Bharadwaj, Jessica Apotheker, and Megan MooreConsumers Know More About AI Than Business Leaders Think, BCG, April 24, 2024.



Classical Summary:


[1]: https://www.bcg.com/publications/2024/consumers-know-more-about-ai-than-businesses-think

[2]: https://web-assets.bcg.com/25/af/7bba43a64a0c9bfbca523e98f83a/rapport-bcg-consumers-know-more-about-ai-than-business-leaders-think.pdf

[3]: https://www.bcg.com/publications


Consumers Know More About AI Than Business Leaders Think


Artificial intelligence (AI) isn't new, but public interest in it has surged, especially with the release of generative AI (GenAI) tools like ChatGPT. Surprisingly, consumers are more knowledgeable and excited about AI than expected. Here are the key takeaways from our recent survey:


  1. High Awareness: Across surveyed countries, consumer awareness of AI is impressive. For instance, over 90% of consumers in India and the United Arab Emirates have heard of ChatGPT. Even in China and Saudi Arabia, awareness exceeds 80%.
  2. Usage: Consumers actively use AI-driven tools to address various needs. They appreciate the "three Cs" that AI provides:
  3. Comfort: AI improves personal well-being by assisting with health, financial goals, and more.
  4. Customization: AI helps find the right products or services and meets personal objectives.
  5. Excitement and Concern: Prior to using AI, people tend to have more negative feelings about the technology. However, excitement increases after experiencing AI. Respondents expressed a mix of excitement (43%) and concern (29%) for lifestyle uses of GenAI. In the workplace, excitement was higher (70%), with 15% expressing concern.
  6. Building Trust: Business leaders should respect consumers' views, counter misinformation, practice responsible AI, and tap into existing excitement. Trust is crucial for successful AI deployment.


Remember, don't underestimate consumers—understand them deeply when developing AI-enabled solutions¹[1].


Source: Conversation with Bing, 4/26/2024

(1) Consumers Know More About AI Than Businesses Think | BCG. https://www.bcg.com/publications/2024/consumers-know-more-about-ai-than-businesses-think.

(2) Business Leaders Think Consumers Know More About AI Than. https://web-assets.bcg.com/25/af/7bba43a64a0c9bfbca523e98f83a/rapport-bcg-consumers-know-more-about-ai-than-business-leaders-think.pdf.

(3) Featured Insights and Perspectives | BCG. https://www.bcg.com/publications.





Nivedita Balaji 


[1]: https://bestmediainfo.com/insights/40-consumers-excited-about-varied-uses-of-genai-while-28-feel-conflicted-bcg-report-4520010

[2]: https://www.bcg.com/publications/2024/consumers-know-more-about-ai-than-businesses-think

[3]: https://web-assets.bcg.com/25/af/7bba43a64a0c9bfbca523e98f83a/rapport-bcg-consumers-know-more-about-ai-than-business-leaders-think.pdf


Nivedita Balaji, an Associate Director at BCG, plays a crucial role in understanding and shaping the landscape of artificial intelligence (AI). Her insights stem from extensive research conducted by BCG's Center for Customer Insight, which surveyed 21,000 respondents across 21 countries. Notably, over 80% of participants demonstrated awareness of GenAI, with a quarter having already used this technology. Nivedita highlights India's remarkable adoption—1 in every 2 Indians aware of GenAI (Chat GPT) ends up using it. Interestingly, Indian users exhibit mature GenAI usage, particularly in workplace-related activities. While consumers express excitement (40%) and concern (28%) about AI, business leaders must recognize this high consumer awareness and prioritize responsible AI practices¹[1][1] ²[2][2].


Source: Conversation with Bing, 4/26/2024

(1) 40% consumers excited about varied uses of GenAI while 28% feel .... https://bestmediainfo.com/insights/40-consumers-excited-about-varied-uses-of-genai-while-28-feel-conflicted-bcg-report-4520010.

(2) Consumers Know More About AI Than Businesses Think | BCG. https://www.bcg.com/publications/2024/consumers-know-more-about-ai-than-businesses-think.

(3) Business Leaders Think Consumers Know More About AI Than. https://web-assets.bcg.com/25/af/7bba43a64a0c9bfbca523e98f83a/rapport-bcg-consumers-know-more-about-ai-than-business-leaders-think.pdf.



Aparna Bharadwaj


[1]: https://www.bcg.com/about/people/experts/aparna-bharadwaj ""

[2]: https://bing.com/search?q=Aparna+Bharadwaj+BCG+biography ""

[3]: https://www.ted.com/speakers/aparna_bharadwaj ""

[4]: https://www.weforum.org/agenda/authors/aparna-bharadwaj/ ""


Aparna Bharadwaj, a Managing Director & Partner at Boston Consulting Group (BCG), is a global leader in the Global Advantage practice. She also contributes significantly to BCG's Marketing, Sales & Pricing and Public Sector practices. Previously, Aparna led BCG's Center for Customer Insight across 50 markets. Her expertise spans economic development, digital economy, trade, productivity, and future skills in the ASEAN region. Aparna's extensive experience includes working with public sector clients, ministries, and government agencies. She specializes in emerging market dynamics and ecosystems, having worked globally. Before joining BCG, Aparna held leadership roles at Coca-Cola, focusing on brand management and trade marketing. Her insights shape strategies for growth, customer analytics, sales excellence, and portfolio analysis in diverse industries. Aparna's commitment to understanding consumer behavior and driving sustainable progress is commendable¹[1][1] ²[2][2] ³[3][3].


Source: Conversation with Bing, 4/26/2024

(1) Aparna Bharadwaj - BCG. https://www.bcg.com/about/people/experts/aparna-bharadwaj.

(2) Aparna Bharadwaj - BCG. https://bing.com/search?q=Aparna+Bharadwaj+BCG+biography.

(3) Aparna Bharadwaj | Speaker | TED. https://www.ted.com/speakers/aparna_bharadwaj.

(4) Aparna Bharadwaj - Agenda Contributor | World Economic Forum. https://www.weforum.org/agenda/authors/aparna-bharadwaj/.



Jessica Apotheker


[1]: https://www.bcg.com/about/people/experts/jessica-apotheker

[2]: https://bing.com/search?q=Jessica+Apotheker+BCG+biography

[3]: https://www.bcg.com/press/12july2022-deux-directrices-associees-francaises-promues-a-de-nouvelles-fonctions-au-sein-des-equipes-internationales

[4]: https://careers.bcg.com/blogarticle/intersection-of-digital-and-marketing


Jessica Apotheker, a Managing Director & Partner at Boston Consulting Group (BCG), is a global leader in the Global Advantage practice. She also contributes significantly to BCG's Marketing, Sales & Pricing and Public Sector practices. Since joining BCG in 2008, Jessica has played a leading role in helping companies in the consumer packaged goods, automotive, and health care industries transform their marketing capabilities. Her expertise lies in large-scale digital marketing, data-driven marketing, marketing analytics, and operating model redesign. As BCG's global Chief Marketing Officer (CMO) and CMO for BCG X (the firm's tech powerhouse), Jessica navigates the intersection of digital and marketing, shaping strategies for growth, customer analytics, and sales excellence. Her pragmatic and hopeful outlook on the future of business in the age of AI emphasizes the importance of human creativity alongside generative AI. Jessica's commitment to understanding consumer behavior and driving sustainable progress is commendable¹[1][1] ²[2][2].


Source: Conversation with Bing, 4/26/2024

(1) Jessica Apotheker - BCG. https://www.bcg.com/about/people/experts/jessica-apotheker.

(2) Jessica Apotheker - BCG. https://bing.com/search?q=Jessica+Apotheker+BCG+biography.

(3) Boston Consulting Group (BCG) : Deux Directrices associées françaises .... https://www.bcg.com/press/12july2022-deux-directrices-associees-francaises-promues-a-de-nouvelles-fonctions-au-sein-des-equipes-internationales.

(4) Meet BCG's CMO: At the Intersection of Digital and Marketing | BCG. https://careers.bcg.com/blogarticle/intersection-of-digital-and-marketing.



Megan Moore


[1]: https://www.bcg.com/publications/2024/consumers-know-more-about-ai-than-businesses-think

[2]: https://www.bcg.com/about/people-culture/leadership

[3]: https://www.preplounge.com/en/consulting-forum/roles-and-seniority-at-mckinsey-bcg-bain-6580


Megan Moore, a Project Leader at Boston Consulting Group (BCG), plays a pivotal role in the intersection of technology, business, and society. Here are the key highlights about her:


  • AI Awareness and Usage: Megan's recent survey revealed that consumers are more knowledgeable and excited about AI than anticipated. Across various countries, awareness of AI tools like ChatGPT is remarkably high. Consumers appreciate the "three Cs" that AI offers: Comfort, Customization, and Convenience. They use AI for health, fitness, recommendations, and more¹[1][1].
  • Understanding Consumer Sentiments: Megan emphasizes that leaders should not underestimate consumers' feelings about AI. People have nuanced views, recognizing both the potential benefits and downsides. Building trust involves respecting these perspectives, countering misinformation, and practicing responsible AI¹[1][1].
  • BCG Leadership: As a Project Leader at BCG, Megan contributes to tackling critical challenges and seizing opportunities for clients. Her work spans technology, ethics, and transformation¹[1][1].


Megan Moore's insights guide the responsible adoption of AI, making her a valuable voice in the field.


Source: Conversation with Bing, 4/26/2024

(1) Consumers Know More About AI Than Businesses Think | BCG. https://www.bcg.com/publications/2024/consumers-know-more-about-ai-than-businesses-think.

(2) BCG Leadership - Boston Consulting Group. https://www.bcg.com/about/people-culture/leadership.

(3) Roles and Seniority at McKinsey / BCG / Bain - PrepLounge. https://www.preplounge.com/en/consulting-forum/roles-and-seniority-at-mckinsey-bcg-bain-6580.



The categorization and citation of the genioux Fact post


Categorization


This genioux Fact post is classified as Breaking Knowledge which means: Insights for comprehending the forces molding our world and making sense of news and trends.



Type: Breaking Knowledge, Free Speech



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REFERENCES



genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)2285, Fernando Machuca and CopilotApril 24, 2024, Genioux.com Corporation.


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