If many recent advertising campaigns are to be believed, AI is everywhere and taking over consumer products. But while more people than ever are aware of AI products like ChatGPT, that doesn’t mean they’ve tried any or that it affects their purchasing decisions.
At least that’s what emerges from a recent survey by Future (TR’s parent company) called Demystifying AI. The study, conducted in June, asked a wide range of people about their perception of AI, how they envision using it, and what it means for their purchasing habits.
It’s actually more about what AI doesn’t mean to people who buy. The survey found that when it comes to buying new tech products, AI currently ranks last in terms of reasons to buy or decide not to. This may come as a surprise, given the rapid integration of AI across the board (with varying degrees of honesty). However, brand recognition is the top consideration, with price and operating system at the top of the list of reasons. Regardless of its increasing presence in marketing materials, AI barely factors into consumers’ thinking, if it even appears at all.
That doesn’t mean people aren’t interested in AI as a concept. Just because they find AI intriguing doesn’t mean they’re willing to open their wallets. People may think of AI as a novelty rather than an essential feature that adds tangible value to their lives. Many respondents associated AI with terms like “futuristic,” “cool,” and “exciting,” suggesting they want to explore AI. About half (53%) of respondents said they would be more likely to buy a product if it was advertised as “AI-enabled.”
That said, many consumers mentioned less positive adjectives for AI, such as “expensive” and “worrying.” More than half of respondents indicated that they believe AI currently has no impact on their lives or is even harmful. These apprehensions are likely linked to ongoing debates about data privacy, ethics, and perhaps an AI apocalypse.
Purchasing the future with AI
However, just because AI isn’t a big deal, one way or another, for consumers right now doesn’t mean it never will be. There’s a noticeable shift in the survey between how consumers envision AI in their lives now and how they expect AI to impact their lives in the future. The 45% of respondents who believe AI is improving their lives currently rises to 60% who believe it will do so within the next five years. This optimism suggests that AI hype is simply premature rather than entirely misplaced.
The growing interest and positive outlook on the future impact of AI offer companies a promising avenue to push AI-related projects forward. However, some effort may be needed to educate consumers on the practical benefits of AI in the first place, rather than simply promoting the technology itself. Future plans include re-running the survey periodically with the same respondents, so we’ll have to see if current opinions evolve along with AI.
