If many recent advertising campaigns are to be believed, artificial intelligence is ubiquitous 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 one or that it’s influencing their purchasing decisions.
At least that’s according to one recent research from Future (TR’s parent company) called Demystifying AI. The study, conducted in June, asked a wide range of people about their perceptions of AI, how they imagine using it, and what it means for their purchasing behavior.
Actually, it’s more about what AI doesn’t mean for what people buy. The research found that AI currently ranks dead last when it comes to buying new tech products, as reasons to buy or not to buy. This may come as a surprise given the rapid adoption of AI across the board (with varying degrees of honesty). Nevertheless, brand recognition is the top consideration, with price and operating system filling the top rows of reasons. Despite its growing presence in marketing materials, AI barely figures in a consumer’s mind, if at all.
That doesn’t mean people aren’t interested in AI as a concept. But being fascinated by AI doesn’t mean you have to open your wallet. People may see AI as a novelty rather than an essential feature that adds tangible value to their lives. Many of the survey participants associated AI with terms like “futuristic,” “cool,” and “exciting,” suggesting they’re interested in exploring AI. About half, 53%, of respondents said they’d be more likely to buy a product if it was advertised as “AI-enabled.”
That said, many consumers cited less positive adjectives for AI, such as “expensive” and “concerning.” More than half of respondents said they believe AI currently has no impact on their lives or is even harmful. These concerns are likely tied to ongoing debates over data privacy, ethics, and perhaps an AI apocalypse.
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But just because AI isn’t a big deal for consumers right now, one way or another, doesn’t mean it never will be. There’s a notable shift in the survey from how consumers imagine AI in their lives now versus how they expect AI to impact their lives in the future. The 45% of respondents who believe AI is improving their lives now jumps to 60% who think it will in the next five years. This optimism suggests that AI advertising is simply premature, rather than completely misguided.
The growing interest in and positive outlook for the future impact of AI offers a promising avenue for companies to push AI-related projects. But it may take some effort to first educate consumers about the practical benefits of AI, rather than just touting the technology itself. Future plans include periodically re-running the survey with the same respondents, so we’ll have to see if current views evolve along with AI.
