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Home Business

Only 43% of the Fast-Moving Consumer Goods Sector is Embracing the Artificial Intelligence Revolution – Is Your Business Ready?

Stephen S. by Stephen S.
07.08.2024
in Business, Companies, Insights, Jobs, Leadership, News
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More than half of consumer goods companies, 51%, are aware that Artificial Intelligence will have an impact that will revolutionize the sector, although only 43% acknowledge that they are already preparing for it.

Aware of the need to prepare and train companies in the sector, the business association Aecoc has presented, along with Mioti Tech & Business School, the “Observatory of Exponential Technologies”, a new dissemination platform for its 34,000 members to identify the challenges, opportunities, and risks of emerging technologies such as AI.

Among its initiatives is to carry out studies that provide information on this new revolution, such as the recent “Purchase and Consumption Barometer” from Aecoc Shopperview, which reveals that 76% of consumers believe that artificial intelligence will bring new advantages to the purchasing process.

Among these benefits cited by the respondents, 44% of consumers mention that it will facilitate product comparison between platforms and nearly half, 49%, believe it will improve the updating of information on home delivery orders.

Likewise, a significant percentage of those surveyed, 44%, affirm that these technologies will allow achieving a high degree of personalization in the shopping experience and product recommendations, while 35% believe it will provide more efficient customer service and 29% greater security in payment methods.

Potential risks

On the other side of the coin of the study by the consumer goods sector association, are the negative connotations that new artificial intelligence tools have for consumers, such as the possibility that they contribute to spreading fake news or identity theft (65%). The next major concern of Spaniards about AI, in 56% of cases, is its potential threat to their privacy, while half directly fear that voice assistants could spy on them.

Far from what might seem at first glance, the fear of their jobs being threatened by artificial intelligence only affects 30% of respondents compared to 41% who consider that it does not pose a danger in their work environment.

Tags: AIBusinessBusiness AdviceCareerEntrepreneurshipLeadership PsychologyTechWorkers
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