AI has already embedded itself in multiple facets of shoppers’ everyday lives and is becoming crucial to brands and retailers. However, not not all shoppers see the benefits of AI the same. The variation in views on AI might have everything to do with household incomes.
In a byline article published in The Huffington Post titled, ‘Why Artificial Intelligence Will Widen the Wealth Gap,’ Integer’s Colin Simonds, Senior Planner, and Jacquelyn Ethredge, Director, Insight & Strategy speak to the varying role AI plays in households that prioritize time or money as their most valuable asset.
As reported, the data indicates that households with more money prioritize time and are more likely to see AI as a potential tool for saving or creating more time. However, lower-income households show a higher priority on cost savings and are interested in the potential of AI to further this goal.
To avoid alienating an entire audience of shoppers, brands, retailers, and technology firms should be conscious about developing AI solutions that provide value to all shoppers: whether it’s saving time for those who value it the most or helping lower- to middle-class families save money on their everyday needs.
For more information and to download The Integer Group’s white paper series of research findings from the Embracing the Machines: AI’s Collision with Commerce study, go to integer.com/artificialintelligence
Image source: www.huffingtonpost.com