Artificial Intelligence could be a game-changer, but privacy concerns remain – The Economic Times–08.12.2017

NEW YORK: Despite so much buzz about Artificial Intelligence (AI) this year, nearly three-quarters of the consumers are concerned about AI infringing on their privacy, a new survey said on Thursday.

The survey of more than 5,000 people by global professional services firm Genpact also revealed that 59 per cent of the respondents think their government should do more to protect personal data from AI.

“AI is a game-changer to improve the customer experience, yet real challenges remain regarding trust and privacy,” said Sanjay Srivastava, Chief Digital Officer, Genpact.

“To encourage adoption, the key is to have visibility into AI decisions, and be able to track and explain the logic behind them. Companies need to break through the ‘black box’ to drive better insights for their business and give consumers the assurance they need,” Srivastava added.

Artificial Intelligence could be a game-changer, but privacy concerns remain

Only 12 per cent of the people surveyed said they would prefer to be served by a chatbot, even if the service they receive is faster and more accurate than that of a human.

“Yet, over three times more executives (38 per cent) think their customers will prefer service by a chatbot in three years,” the survey noted.

Although companies continue to embrace AI, many potential customers still have substantial fears.

Artificial Intelligence could be a game-changer, but privacy concerns remain

Nearly two thirds of respondents worry that AI will make decisions that will impact their lives without their knowledge.

Moreover, 58 per cent of people surveyed do not feel comfortable with companies using AI to access their data to personalise and improve their experiences with a brand.

Even with the explosive growth of home digital assistants, chatbots, smart sensors, etc., consumers still perceive they have little contact with AI.

Less than half of those surveyed say they interact with some form of AI regularly. In addition, two in five (41 per cent) believe that AI has made no difference to their lives.

Artificial Intelligence could be a game-changer, but privacy concerns remain

The study also showed that younger generations interact with AI more frequently and cite its benefits.

“Younger generations’ rapidly changing views underscore how AI, even in these early days, is the single biggest shift that is transforming how people interact with businesses and the world around them,” added Srivastava.

According to a previous Genpact study, 88 per cent of senior executives at companies that are leaders in AI expect the technology will drive better customer experiences within three years.

via Artificial Intelligence could be a game-changer, but privacy concerns remain – The Economic Times

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