Campaign India Team
Jan 03, 2024

92% consumers want urgent regulation of AI: Cheil India report

The report outlines what Indian consumers feel about the transformative powers of AI while shedding light on their fears and expectations from it in 2024

92% consumers want urgent regulation of AI: Cheil India report

AI is serious business for consumers, something that will create a lasting impact, not only on their lives, but on society as a whole. reveals a survey by Cheil India.

The report, 'AI & I - What Indian consumers feel about, and expect from AI in 2024' examines the attitude of consumers towards AI through an online survey administered to 1000+ respondents across different age groups.

While there is excitement about AI, there is an underlying fear of AI becoming too powerful if unregulated. 92% of respondents feel an urgent need for regulation of AI, whether at the global or India level
 
Six out of 10 people realise the transformative powers of AI with 60% of respondents saying they are excited by AI and are eager to see and experience its full potential. 35% think AI has numerous benefits and we should try to get the most out of this new technology but tread cautiously while a mere 5% think AI is harmful to the progress or well-being of human society.
 
However, there are conflicting emotions and concerns when it comes to the development and role of AI across age groups and genders. Millennials feel AI will make their life easier and more fulfilling, by automating menial tasks, and help in fostering connections. Gen Z wants AI to help them live life the way they want, on their own terms and prioritises AI applications that customise and personalise the way they experience the world. 
 
 
Two in three millennials who are the makers of AI and decision-makers of AI implementation are excited, inspired and optimistic about AI, while seven in 10 Gen Z are afraid of job loss, with 47% of Gen Z saying that we should tread cautiously or think that AI might have harmful effects.
 
 
When it comes to gender, men seem to be over-excited towards AI while women are more measured and watchful in their approach to it with 66% of men wanting to see AI reach its full potential, while 45% of women have reservations about AI.
 
Data privacy has emerged as the biggest bottleneck in AI adoption, as per the report with 64% of respondents thinking that if they start using AI, all their data will be exposed to AI companies, while 70% are worried about those companies misusing the data they share. 62% are worried about governments misusing and abusing AI-based surveillance systems. 
 
Consumers prioritise life-enhancing experiences over just gimmicks across different facets of life like home security, smart home, personalised recommendations for entertainment, customer service and AI-generated content, according to the report. 
 
Across categories, 'personal security' comes out as the biggest opportunity area with two key aspects – 'health' and 'home', as per the report.
 
The survey also highlights the fact that, while consumers expect AI to improve their experiences, it is imperative that we don’t let go of human interactions across all aspects of life.

Lim Seob Chung, MD, Cheil India said, “Unlike other recent trends that dominated tech headlines, AI has become mainstream and is here to stay. Its appeal cuts across age groups and gender with each coterie having their own views on it.”
 
Sanjeev Jasani, COO, Cheil India, said, “It is a first-of-a-kind survey by Cheil India that draws attention to what consumers are feeling about AI given its outsized impact on our life. A good heuristic for many things that hasn’t been captured about it so far."
 
Sourav Ray, chief strategy officer, Cheil India, added, “We have uncovered the dichotomy inherent in the beliefs around AI – most consumers are hopeful, yet watchful. Hopeful about its transformative potential, watchful about its use and deployment.”
Source:
Campaign India

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