GenAI (generative artificial intelligence) is a hot topic in retail, and understanding consumer perceptions of this technology is crucial for retail companies and technology vendors. To shed light on this, Coresight Research conducted multiple surveys of US consumers between late July 2023 and early April 2024. Here are some key findings:
1. Consumer Awareness:
- US consumers are becoming increasingly aware of GenAI.
- Insights vary by age group, with younger consumers generally more informed about the technology.
2. Use of GenAI:
- Some US consumers are actively engaging with GenAI-generated content.
- Again, age plays a role, with younger demographics being more likely to use GenAI.
3. Payment for AI-Generated Content:
- A significant number of US consumers currently pay for products or services that produce AI-generated content.
- This trend is likely to continue as GenAI becomes more prevalent.
4. Concerns:
- Consumers express concerns about GenAI, particularly related to job displacement.
- Retail companies and technology vendors need to address these apprehensions.
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