Consumers are continuing to resonate with artificial intelligence (AI) and one-third of consumers are using GenerativeAI (GenAI) programs, such as ChatGTP, in their daily lives, according to a new survey from Intellias.
Millennials and Gen Z are using GenAI tools at even higher rates – with 60 percent of Millennials and 49 percent of Gen Z.
Consumers are also becoming more aware of AI when making purchases. 44 percent of consumers surveyed said AI helps retailers develop personalized shopping experiences.
The top five areas AI can be most valuable, according to the consumers surveyed, are:
- Pricing and promotions: 28 percent
- Loyalty – real-time personalized rewards: 23 percent
- Product discovery when searching online: 23 percent
- Product validation: 19 percent
- Product recommendations personalized by AI: 19 percent
“There’s little doubt that the hype-curve surrounding GenAI will continue to accelerate in 2024,” said Alexander Goncharuk, VP of Retail at Intellias. “And this will be driven both by the consumer who will become even more used to AI-interfaces in their day-to-day lives, as well as by the retailers innovating and exploring different use cases that drive efficiencies and enhance customer experience across the value chain.”