According to fresh research, Australian organizations need to consider ethically consumer concerns about data management in order to effectively harness artificial intelligence.
The research, commissioned by WP Engine and undertaken by scientists from London University and Vanson Bourne, investigated the present and close future of web-driven human digital experiences of artificial intelligence (AI) and the often tenuous but rewarding connection between customers, brands and AI.
The research shows that while AI is enhancing finance for 91.3 percent of Australian businesses, organizations will need to consider ethically consumer concerns about data management to effectively harness evolving technology.
The research that surveyed customers and businesses (1,000 workers or more) in Australia, the United States and the United Kingdom discovered that 93% of Australian customers think that organizations should be able to clarify how they use private information.
The research shows that when using AI efficiently, organizations begin to see a measurable effect on the bottom line. In fact, it showed that performance leaders may owe their success to investment in AI, with 89.3% of Australian brands, saying AI has helped them increase or widen their competitive advantage.
However, values-related subjects emerged even greater in an age of increasingly purpose-driven consumption than the value generated for Australian customers and businesses in terms of priority and significance.
“AI offers organizations with a strong format to support their key values, surface utility, and align advantages closer to their brand and value proposition to customers,” suggests Randall.
According to Randall, while organizations are beginning to see the advantages of AI, they still have to capitalize on these strengths in a manner that provides real usefulness and aligns with consumers ‘ human requirements.
In order to create secure, reliable and compelling digital experiences, the researchers discovered the interplay of value and values across three key pillars — personalization, information exchange and meaning.
In today’s digital experiences, Australian companies are already using AI. The research demonstrates that 86% of companies say they see a favorable ROI on the AI in which they invest to power digital experiences.
According to the research, 57.2 percent of Australian participants think that AI will have a beneficial effect on the globe, but 45.2 percent think that bias in AI may result in unequal minority representation. Simultaneously, 54.2 percent think that AI is a chance to overcome human bias.