Recent research indicates that a significant majority—53%—of consumers express trust in generative AI technology for its application in financial planning.
According to a study conducted by the Capgemini Research Institute, titled Why Consumers Love Generative AI, awareness and adoption of this technology are notable across various demographics and regions. Over half (51%) of participants reported being aware of recent developments and have begun to explore these tools.
Despite the positive outlook, the study highlights a concerning gap in consumer awareness regarding the potential risks associated with generative AI. Nearly half (49%) of respondents do not express concern about AI-generated misinformation, while only a third (34%) show apprehension about phishing schemes, and a similar percentage (33%) are worried about copyright infringements.
Niraj Parihar, CEO of Capgemini’s Global Insights & Data business line, remarked, “The global awareness of generative AI among consumers is impressive, and adoption rates are accelerating. However, the understanding of its functionality and related risks remains alarmingly low.” He emphasized the importance of regulation, stating that both businesses and technological partners play a crucial role in educating users and implementing safeguards that address ethical concerns and the potential misuse of generative AI.