Research: AI is Ready for Its Closeup. Are Companies Using It?

AI

Ninety percent of survey respondents are using artificial intelligence (AI) internally for at least one business purpose, according to research from Parks Associates. More than one-third — 36% — use AI for software development, code generation, and quality assurance.

The research suggests that AI and machine learning (ML) are gradually entering a new era. The technologies to date have largely been behind-the-scenes technologies that are used to enhance brands’ products, services, and workflow to enhance feature sets, enable solutions to work more intelligently and independently, and offer greater personalization.

But the technology is evolving and may take a higher profile role. Generative AI — which is the ability of AI to produce (hence “generate”) content — will bring AI and ML more front and center. Generative AI will be the first time that many consumers have “knowingly interacted with artificial intelligence.”

The research report, titled “AI in the Smart Home: Applications and Consumer Perceptions,” suggests that companies must adapt.

“This forces a new conversation about what AI is, how it works, how it is controlled, and the limits of its capabilities,” according to Parks. “The arrival of generative AI causes all companies active in the connected consumer ecosystem to rethink their product development strategies. Generative AI may be a catalyst for growth, a critical new tool for operational efficiency, or a competitive threat. For many, it will be all three.”

Other findings from the AI research:

  • 79% of consumer Internet of Things (IoT) executives report using AI in their consumer-facing products and services.
  • 66% of security system owners use generative AI apps today, and 31% use a paid version of an AI tool for personal, professional, or educational reasons.
  • 79% say at least one AI-powered smart home is valuable.
  • The research says 52% of consumers are willing to pay monthly for AI that offers value via security, convenience, and automation.

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