AI Stats News: Consumers Have Very Mixed Attitudes About Data Privacy

2020-03-04 15:18:08

Recent surveys, studies, forecasts and other quantitative assessments of the progress and impact of AI highlight the confusion and contradictory attitudes of consumers about the privacy of their data, the impact of AI on jobs, and the race for AI supremacy.

Big Brother is watching you Getty

The Life of Data

36% of consumers are less comfortable sharing information now than a year ago but 17% are more comfortable; 66% of consumers call data breaches “unacceptable” but 55% say they would continue to use a company’s products or services, even after a data breach; 84% will take their business elsewhere if they feel a company is not handling a breach responsibly; 67% say that despite “nervousness” over sharing data, the benefits outweigh the risks, and 76% call sharing personal information with companies a “necessary evil”; 59% trust business more than they do government with their data;

80% of consumers feel they’re entitled to compensation in cash for any breach involving personal information; 28% believe they should be rewarded for any use of their data for profit; 79% will not buy a product no matter how great the products are, if they don’t trust the company to be responsible with their data; 59% consider themselves novices on the topics of privacy and cybersecurity; only 27% of consumers know what hardware/software tokens are and only 35% know what identity-theft monitoring is;

87% of business executives understand that protecting customer data will ultimately be more profitable than monetizing it without customer consent [PwC multi-country survey of 5,000 consumers and 2,000 business executives]

People in Germany place the highest value on privacy compared to the U.S. and Latin American countries. Across countries, people place the highest value on keeping financial and biometric information private—balance and fingerprint data in particular. Germany’s status as the country with highest value for privacy is driven largely by extremely strong preferences for keeping financial data private. German respondents were willing to share bank balance information in exchange for monthly payments of $15.43 and cash withdrawal information for $13.42/month. People had to be paid the least for permission to receive ads, meaning people are much less concerned about ads than any of the other types of data we explored. Indeed, in Argentina, Colombia, and Mexico, the average respondent was willing to pay small amounts to receive ads, suggesting that people in those countries like receiving ads. Location privacy also turned out to be among the least valuable to people in every country [Technology Policy Institute multi-country survey]

84% of consumers say they have a strong understanding of the consequences associated with personal data being stolen; consumers are most concerned about financial loss, with nearly 60% saying their greatest fear is hackers accessing their financial information. The threat of loss of financial information ranked well above personal healthcare information becoming public (14%), political campaigns using data to target and influence their opinions (8%) and paying ransom if information is held hostage (6%). While we know that cyberattacks cost companies large sums each year, the financial cost to consumers is next to nothing. In fact, it’s required by U.S. law that financial institutions refund customers if money is taken from their account without authorization;

67% of consumers feel that advancements in AI will help keep personal information safe; 64% of consumers believe that companies have learned from the mistakes of other well-known companies (Facebook, Target, Equifax and more) that have been victims of cybercrimes in recent years, and therefore are more trustworthy now when it comes to their personal information; 60% lack trust in online dating sites/apps, and 54% are skeptical of social networks; 77% of consumers trust federal/state governments to keep their information private [Blumberg Capital]

91% of organizations are sure their sensitive data is stored safely, but about one in four organizations admitted they had actually discovered such data outside of designated secure locations in the past 12 months; the data was left overexposed for days (43%) or weeks (23%) before the incident was discovered [Netwrix]

68% of data teams are unable to extract the data insights needed by their organizations’ decision makers [Sapio Research survey of over 2,000 data strategy decision makers in the UK, Germany, the US and China, sponsored by Exasol]

AI research successes

A machine-learning approach has identified powerful new types of antibiotic from a pool of more than 100 million molecules — including one that works against a wide range of bacteria, including tuberculosis and strains considered untreatable. The researchers say that this is the first time AI has identified completely new kinds of antibiotic from scratch, without using any previous human assumptions [Nature]

The future of work

Approximately 25% of U.S. employment (36 million jobs in 2016) will face high exposure to automation in the coming decades (with greater than 70% of current task content at risk of substitution); some 36% of U.S. employment (52 million jobs in 2016) will experience medium exposure to automation by 2030, while another 39% (57 million jobs) will experience low exposure; among the most vulnerable jobs are those in office administration, production, transportation, and food preparation; such jobs are deemed “high risk,” with over 70% of their tasks potentially automatable, even though they represent only one-quarter of all jobs; better-educated, higher-paid earners for the most part will continue to face lower automation threats based on current task content—though that could change as AI begins to put pressure on some higher-wage “non-routine” jobs [Brookings Institution]

Data Engineer was the fastest growing tech occupation in 2019, up 50% Y/Y, and the #3 fastest growing tech job was Senior Data Scientist, up 32% [Dice Tech Job Report]

The AI race

The U.S., France, the U.K., and Israel all score better than China on AI strategy. China, widely perceived as a global leader in artificial intelligence, doesn’t measure up to the U.S. and several other countries when it comes to an important component of AI strategy—adoption by businesses that aren't startups [Cognilytica/WSJ]

If current trends continue, China’s overall investments in research and development are expected to surpass those of the United States within 10 years, around the same time its economy is projected to become larger than the US economy [NYT/Tortoise Media]

AI funding

The earliest investors in AI startups globally saw adjusted annualized returns of roughly 43% on average in 2019, compared with 3% for early-stage investors across all technology startups [PitchBook Data/WSJ]

AI quotable quotes

“For several decades we have been training people to act like computers, and now we are complaining that these jobs are in danger. Of course they are. We have to look for opportunities to create jobs that will emphasize our strengths”—Gary Kasparov

“It took 100 years for people to figure out thermodynamics and explain some of the limitations. We are at the stage [in AI] where we can build steam engines and the question is what is the equivalent of thermodynamics for intelligence? That’s my big scientific question”—Yann LeCun

“AI will be a critical factor in cyber defense and serve to enhance humans in their jobs. Unlike humans, AI is always on”—Poppy Gustafsson, Darktrace

“We recognize we missed the first battle, the battle of personal data. Europe has everything it takes to lead the ‘big data’ race, and preserve its technological sovereignty”—Thierry Breton, EU Commissioner

“We are particularly concerned that the EU’s proposal clumsily attempts to place all AI technologies into one of two buckets—high-risk or not—where those deemed high-risk are highly regulated and everything else is not regulated at all. This approach is not particularly nimble and takes an unrealistic, all-or-nothing approach to AI regulation”—Michael Kratsios, U.S. Chief Technology Officer

“Europe is not standing still, but the pace of AI diffusion and investment remains limited. Although Europe’s GDP is comparable with that of the United States and just ahead of China’s, the digital portion of Europe’s ICT sector today accounts for around 1.7 percent of GDP, lower than the share in China at 2.1 percent and only half the 3.3 percent share in the United States. While large Western European companies are continuing to expand their use of early digital technologies, the share of fully digitized companies increased by less than 10 percent a year between 2010 and 2016”—McKinsey Global Institute

Form:forbes.com

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