Generative artificial intelligence, also known as generative AI or GenAI, is artificial intelligence that can generate text, images, or other media, using generative models. We have been seeing multiple instances of GenAI being put to interesting uses in recent times: everything from writing and research to creating artworks.
Now, a recent worldwide study by global technology consultancy Thoughtworks says there’s equal levels excitement – and apprehension – among Indian customers when it comes to GenAI.
The study – titled GenAI: What consumers want – found that a substantial majority of Indian respondents, totaling 69%, expressed considerable excitement regarding GenAI, in contrast to the 30% global average of respondents who share the same enthusiasm for GenAI. A high portion (84%) of Indian consumers also stated that they were most likely to purchase from a businesse that incorporated GenAI, as compared to the global average of 83% of respondents.
Thoughtworks commissioned independent market research agency Vanson Bourne to conduct this research for the global study, which surveyed 10,000 consumers in August 2023, with 1,000 based in each of Australia, Brazil, Germany, India, Italy, Netherlands, Singapore, Spain, the UK and the US. All consumers were 18 years old or above and had to have awareness of GenAI to take part.
Among the global respondents surveyed, around 91% were of the opinion that businesses should sustain their GenAI innovation efforts while awaiting the development of effective government regulations. In India, 68% of respondents believe that it is important for businesses to take active precautions to protect their customers when incorporating GenAI. Around 96% of Indian respondents agreed that it is important for businesses to find a balance between using Gen AI to drive innovation, and ensuring its responsible use, highlighting how Indian customers are not yet fully invested in the possibilities and capabilities of GenAI.
A majority of them also agreed that regulation in India is necessary for responsible use of GenAI. Transparency in the use of GenAI is crucial for businesses, with 94% of consumers in India preferring companies that prioritize transparency and equity in using GenAI, compared to a global average of 68%, the study said.