Indian consumers were more trusting of new technologies like AI if they see the potential to improve their productivity and make things simpler. However, they worry about the ethics behind it and the potential for it to act with bias.
In India, AI has a lot of potential in sectors like telecommunications, banking and insurance. Given the demographics and how fast organisations are growing, this can allow them to scale like never before,” said Suman Reddy, MD, Pegasystems India.
Eighty-four percent of respondents said that AI has the potential to provide better customer experiences, improve brand reputation, and increase customer loyalty and 78% are comfortable interacting with AI systems for business-related queries. Further, 60% of Indians are more likely to tell the truth to a chatbot or AI system.
Seventy-five percent of those surveyed believe that machines can behave morally and thus make ‘good’ decisions based on empathetic considerations. In addition, 76% of respondents in India believe that when an organization uses AI to make relevant, appropriate, and valuable offers to their customers, it is an example of AI demonstrating empathy.
Consumers trust companies they do business with, with 85% of those surveyed believing that companies have a moral obligation to do what’s right and 79% of respondents trust companies have customers’ best interests at heart. This means that organisations need to make sure that they implement AI responsibly so as not to lose this loyalty. They need to adopt transparent and unbiased AI, which means their AI models can explain exactly why a decision was made.