More than half of the Singaporean consumers make big decisions based on emotions, experiences and intuition, in comparison to factual data and technology, according to new research from Qlik conducted by YouGov.
Yet, this is not the case for smaller decisions.
For minor decisions such as picking the fastest route to a destination (81 per cent), booking a movie ticket (67 per cent) or generating a travel itinerary for the next vacation (55 per cent), consumers tend to place more trust on technology possibly because these decisions aid convenience and do not have a significant impact on one’s life.
So naturally, for major decisions that involved dating life or choosing the right career path, people trusted humans more than robots.
There has been a surge of mobile fitness apps, in recent times, many of them utilising “virtual nutritionists and fitness coaches” to help other people work out effectively.
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But according to the report, more than half of the individuals would instead rely on humans than mobile applications.
Concerns about data and privacy
Qlik’s data comes alongside another report that indicates the growing concern for privacy issues.
About 51 per cent of Generation Zs said that they were warier about how online companies were handling their data.
This number is comparatively higher compared to Millennials (42 per cent) and Generation X (48 per cent), but lower than Baby Boomers (56 per cent).
Suganthi Shivkumar, Managing Director of ASEAN, Qlik, matches this behaviour to the easy access of internet experienced by Generation Zs from an early age.
Unlike Millennials, this generation has received the full benefits of technology early on, causing them to be “less charmed by the novelty and make them warier of its potential consequences”.
“Each generation relies on and trusts data and technology more than the previous one,” she said.
“Surprisingly, Generation Z bucks this trend, putting them more in line with older Baby Boomers. This could be a sign of tech fatigue or a more pessimistic view towards technology in general. Generation Zs are digital natives, meaning they’ve been raised with computers and on the internet. More experience with digital connectivity could make them less charmed by the novelty and warier of its potential consequences.”
However, if trust issues can be resolved, data and technology can have a much more significant impact on consumers’ lives.
Qlik’s report also found that in the next five years, almost half (48 per cent) would allow integrated body sensors to measure their vitals and inform their doctor about any abnormalities.
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More than a third (35 per cent) would permit an app to limit or prioritise spending based on their savings plan, while just under a third (30 per cent) would allow data and technology to secure their next job.
“Only when companies start to remove the ‘black box approach to AI’ and show consumers what data is collected and how it is used to make recommendations, will they trust data more when making higher-impact decisions,” concluded Shivkumar.
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Image Credit: Mathieu Bigard
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