PointSource, a Globant Company, Releases New Data Showing The Implication of AI investments and Consumers’ Current Relationship With Chatbots

Along with personalized insights and automated processes, the rise in AI, has also brought a disconnect with it. In its latest study, PointSource, a Globant company, found that many consumers have already had a taste of AI, but there is still a gap when it comes to understanding and accepting its applications, such as chatbots.

However, regardless of the understanding, the report revealed that when AI is present, 49 percent of consumers are willing to shop more frequently and 34 percent will spend more money.

Released today, the “Finding Common Ground Between Consumers and Artificial Intelligence” report surveyed 1,000 U.S. consumers to investigate the current state of consumer understanding and comfort with AI adoption, specifically chatbots. It also uncovers what’s standing in the way of consumer acceptance as companies make increasing investments in deep learning technology. The survey found that while 90 percent of consumers feel that companies are prepared to best use chatbots, over half (54 percent) say they would still rather to talk to a customer service representative.

“Services like recommendations from Amazon and Facebook Ads, have done a good job of warming people up to the idea of AI in their everyday lives – normalizing it through seamless digital experiences that ultimately take place beneath the surface without the user realizing it,” says Barry Pellas, Chief Technology Officer at PointSource, a Globant company, and Vice President of Technology, for the AI Studio. “However, this has also created a gap in how consumers understand the technology. Businesses are investing millions of dollars in AI and chatbot technology with the goal of improving the customer experience. But all that effort is useless if the consumer doesn’t understand it. When engaging with our clients, we make sure to incorporate our clients throughout the entire digital development process, from discovery to implementation so that we can get information about end-users from those who know them best. As chatbots continue to be incorporated into digital experiences, businesses can serve as a bridge between consumers and a better understanding of chatbots so that those AI investments are valuable to the end user and business.”

Factors holding consumers back from using chatbots

Consumers have a selective memory when it comes to AI experience, choosing to remember the bad experiences more vehemently than good ones. In fact, just 16 percent of people say they’re extremely satisfied with their previous chatbot experiences. Privacy/security, speed and friction tend to be top concerns that prevent consumers from moving forward with chatbot devices:

  • Forty-one percent of consumers are concerned with data security and privacy. This number drastically spikes when highly sensitive information is involved.
    If a customer is on hold with a customer service representative,
  • 34 percent of customers want to switch to a chatbot after five minutes have passed. However, 59 percent get frustrated if a chatbot doesn’t resolve their inquiry in that same time frame.
  • Fifty-one percent of consumers are concerned that chatbots won’t understand what they’re looking for, and 44 percent are unsure about the accuracy of the information provided by the chatbot.

Assurances consumers need for chatbot adoption

Despite the concerns consumers have with chatbots, given certain guarantees, consumers would be more comfortable using the technology. For instance, 39 percent of consumers say a clearer understanding of how businesses use their information would make them more comfortable using chatbots. In addition to transparency in the information gathering process, consumer want the information that they do give to be advantageous. The report revealed that another 39 percent would be more comfortable using chatbots if there are guarantees of accurate and up-to-date information.

When the thought of chatbots arises, many people assume that it means the end of human involvement. However, the report revealed that humans still play a very important role in the success of chatbots. Half (49 percent) of consumers would feel better about using a chatbot if they had the assurance that they could escalate their interactions to humans if necessary. This is especially true when it comes to dealing with more sensitive information. For example, 80 percent of consumers would prefer to speak to a human when they’re providing or receiving medical information from their healthcare providers.

“Consumers are ultimately driving the adoption of technology by businesses,” adds Stephanie Trunzo, Chief Digital Officer at PointSource, a Globant Company. “They set the threshold for how quickly and to what extent organizations adopt new technologies. If they’re smart, organizations will first take a look at their end-user’s comfort level and openness to new technology before investing. This also means teaching consumers how chatbots can be used to their benefit, and aren’t apocalyptic. Once they have consumer buy-in, businesses can further implement AI into their business models so that both the consumer and business benefit.”

For more information on the state of consumers and AI/chatbots, download the full report here https://pointsource.com/chatbot-report.