Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Technology > The doctor is in: Consumers are more comfortable with AI in healthcare than other industries, per a SAS survey
    Technology

    The doctor is in: Consumers are more comfortable with AI in healthcare than other industries, per a SAS survey

    The doctor is in: Consumers are more comfortable with AI in healthcare than other industries, per a SAS survey

    Published by Gbaf News

    Posted on April 11, 2018

    Featured image for article about Technology

    Lack of human interaction is the most cited reason for discomfort with artificial intelligence

    While the buzz around artificial intelligence (AI) can seem ominous, consumers are surprisingly comfortable with the technology in healthcare. A recent survey conducted by SAS, the leader in analytics, found that when presented with a variety of real-world AI scenarios, a majority of people were at ease with AI in healthcare, and more comfortable with AI in healthcare settings than banking or retail.

    Despite consumer comfort with AI in the medical industry, the SAS survey of 500 Americans found that a lack of human interaction was the top reason respondents cited for feeling uncomfortable with the technology.

    Just under half of respondents (47 per cent) were comfortable with companies using AI in business interactions generally, with men (53 per cent) slightly more comfortable than women (43 per cent).

    Consumers were also confused about defining artificial intelligence. When asked if they could explain the concept to a friend or colleague, the survey found that fewer than half of the respondents – just 44 per cent – said they could.

    Data privacy is also a concern to those surveyed. Only a third of respondents (35 per cent) were at all confident that their personal data used for AI was being stored securely. Those under 40 years of age felt more confident (42 per cent) that their information was protected, versus just 31 per cent of older respondents.

    “Consumers have few qualms with AI when they see it is being used for their benefit,” said Peter Pugh-Jones, Head of Technology at SAS UK & Ireland. “Where it is shown to make a clear, positive impact, such as assisting diagnosis and operations in healthcare, AI sees little resistance from patients and healthcare providers. However, a lack of understanding around the technology and what it is capable of delivering holds it back in other sectors. If businesses wish to ease AI’s adoption it’s important they remain transparent about how they use it and communicate to customers how it benefits them.”

    A prescription for AI

    AI technologies that assist physicians in patient care rated well with SAS survey respondents, even when asked about surgery. Forty-seven per cent of those surveyed were comfortable with AI assisting doctors in the operating room. More than half of respondents over age 40 were willing to go under the knife with the help of technology, compared with only 40 per cent under age 40. Six in ten participants (61 per cent) were comfortable with their doctor using data from wearable devices, such as an Apple Watch or Fitbit, to assess their lifestyle and make recommendations based on that data.

    Banking on AI

    When it comes to pounds and pennies, survey respondents were not comfortable with banks using AI to interact with them. Monitoring for fraud and other potential threats was the only exception, with 59 per cent indicating they were comfortable with this use of AI. Accessing a customer’s credit history to make a credit card recommendation was the least popular among potential real-world uses of AI by banks.

    Adding AI to the shopping cart

    Retailers take note: of the three industries suggested by the survey, AI in retail made consumers most uncomfortable. Only 44 per cent surveyed indicated they were willing to share location information in order topersonalise their shopping experience. And only 36 per cent were content using their smartphones to enter and shop in a cashier-free store. Respondents were more evenly split when asked if they were comfortable with online retailers using past purchase behaviour to recommend new items, with 49 per cent comfortable and 51 per cent uncomfortable.

    Lack of human interaction is the most cited reason for discomfort with artificial intelligence

    While the buzz around artificial intelligence (AI) can seem ominous, consumers are surprisingly comfortable with the technology in healthcare. A recent survey conducted by SAS, the leader in analytics, found that when presented with a variety of real-world AI scenarios, a majority of people were at ease with AI in healthcare, and more comfortable with AI in healthcare settings than banking or retail.

    Despite consumer comfort with AI in the medical industry, the SAS survey of 500 Americans found that a lack of human interaction was the top reason respondents cited for feeling uncomfortable with the technology.

    Just under half of respondents (47 per cent) were comfortable with companies using AI in business interactions generally, with men (53 per cent) slightly more comfortable than women (43 per cent).

    Consumers were also confused about defining artificial intelligence. When asked if they could explain the concept to a friend or colleague, the survey found that fewer than half of the respondents – just 44 per cent – said they could.

    Data privacy is also a concern to those surveyed. Only a third of respondents (35 per cent) were at all confident that their personal data used for AI was being stored securely. Those under 40 years of age felt more confident (42 per cent) that their information was protected, versus just 31 per cent of older respondents.

    “Consumers have few qualms with AI when they see it is being used for their benefit,” said Peter Pugh-Jones, Head of Technology at SAS UK & Ireland. “Where it is shown to make a clear, positive impact, such as assisting diagnosis and operations in healthcare, AI sees little resistance from patients and healthcare providers. However, a lack of understanding around the technology and what it is capable of delivering holds it back in other sectors. If businesses wish to ease AI’s adoption it’s important they remain transparent about how they use it and communicate to customers how it benefits them.”

    A prescription for AI

    AI technologies that assist physicians in patient care rated well with SAS survey respondents, even when asked about surgery. Forty-seven per cent of those surveyed were comfortable with AI assisting doctors in the operating room. More than half of respondents over age 40 were willing to go under the knife with the help of technology, compared with only 40 per cent under age 40. Six in ten participants (61 per cent) were comfortable with their doctor using data from wearable devices, such as an Apple Watch or Fitbit, to assess their lifestyle and make recommendations based on that data.

    Banking on AI

    When it comes to pounds and pennies, survey respondents were not comfortable with banks using AI to interact with them. Monitoring for fraud and other potential threats was the only exception, with 59 per cent indicating they were comfortable with this use of AI. Accessing a customer’s credit history to make a credit card recommendation was the least popular among potential real-world uses of AI by banks.

    Adding AI to the shopping cart

    Retailers take note: of the three industries suggested by the survey, AI in retail made consumers most uncomfortable. Only 44 per cent surveyed indicated they were willing to share location information in order topersonalise their shopping experience. And only 36 per cent were content using their smartphones to enter and shop in a cashier-free store. Respondents were more evenly split when asked if they were comfortable with online retailers using past purchase behaviour to recommend new items, with 49 per cent comfortable and 51 per cent uncomfortable.

    Related Posts
    Treasury transformation must be built on accountability and trust
    Treasury transformation must be built on accountability and trust
    Financial services: a human-centric approach to managing risk
    Financial services: a human-centric approach to managing risk
    LakeFusion Secures Seed Funding to Advance AI-Native Master Data Management
    LakeFusion Secures Seed Funding to Advance AI-Native Master Data Management
    Clarity, Context, Confidence: Explainable AI and the New Era of Investor Trust
    Clarity, Context, Confidence: Explainable AI and the New Era of Investor Trust
    Data Intelligence Transforms the Future of Credit Risk Strategy
    Data Intelligence Transforms the Future of Credit Risk Strategy
    Architect of Integration Ushers in a New Era for AI in Regulated Industries
    Architect of Integration Ushers in a New Era for AI in Regulated Industries
    How One Technologist is Building Self-Healing AI Systems that Could Transform Financial Regulation
    How One Technologist is Building Self-Healing AI Systems that Could Transform Financial Regulation
    SBS is Doubling Down on SaaS to Power the Next Wave of Bank Modernization
    SBS is Doubling Down on SaaS to Power the Next Wave of Bank Modernization
    Trust Embedding: Integrating Governance into Next-Generation Data Platforms
    Trust Embedding: Integrating Governance into Next-Generation Data Platforms
    The Guardian of Connectivity: How Rohith Kumar Punithavel Is Redefining Trust in Private Networks
    The Guardian of Connectivity: How Rohith Kumar Punithavel Is Redefining Trust in Private Networks
    BNY Partners With HID and SwiftConnect to Provide Mobile Access to its Offices Around the Globe With Employee Badge in Apple Wallet
    BNY Partners With HID and SwiftConnect to Provide Mobile Access to its Offices Around the Globe With Employee Badge in Apple Wallet
    How Integral’s CTO Chidambaram Bhat is helping to solve  transfer pricing problems through cutting edge AI.
    How Integral’s CTO Chidambaram Bhat is helping to solve transfer pricing problems through cutting edge AI.

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Technology PostBitglass Report: Less than Half of Enterprises Have Visibility into External Sharing, DLP Policy Violations in the Cloud
    Next Technology PostData science reveals Ireland’s best locations

    More from Technology

    Explore more articles in the Technology category

    Why Physical Infrastructure Still Matters in a Digital Economy

    Why Physical Infrastructure Still Matters in a Digital Economy

    Why Compliance Has Become an Engineering Problem

    Why Compliance Has Become an Engineering Problem

    Can AI-Powered Security Prevent $4.2 Billion in Banking Fraud?

    Can AI-Powered Security Prevent $4.2 Billion in Banking Fraud?

    Reimagining Human-Technology Interaction: Sagar Kesarpu’s Mission to Humanize Automation

    Reimagining Human-Technology Interaction: Sagar Kesarpu’s Mission to Humanize Automation

    LeapXpert: How financial institutions can turn shadow messaging from a risk into an opportunity

    LeapXpert: How financial institutions can turn shadow messaging from a risk into an opportunity

    Intelligence in Motion: Building Predictive Systems for Global Operations

    Intelligence in Motion: Building Predictive Systems for Global Operations

    Predictive Analytics and Strategic Operations: Strengthening Supply Chain Resilience

    Predictive Analytics and Strategic Operations: Strengthening Supply Chain Resilience

    How Nclude.ai   turned broken portals into completed applications

    How Nclude.ai turned broken portals into completed applications

    The Silent Shift: Rethinking Services for a Digital World?

    The Silent Shift: Rethinking Services for a Digital World?

    Culture as Capital: How Woxa Corporation Is Redefining Fintech Sustainability

    Culture as Capital: How Woxa Corporation Is Redefining Fintech Sustainability

    Securing the Future: We're Fixing Cyber Resilience by Finally Making Compliance Cool

    Securing the Future: We're Fixing Cyber Resilience by Finally Making Compliance Cool

    Supply chain security risks now innumerable and unmanageable for majority of cybersecurity leaders, IO research reveals

    Supply chain security risks now innumerable and unmanageable for majority of cybersecurity leaders, IO research reveals

    View All Technology Posts