Majority of adults willing to embrace AI for better pensions

Three-quarters of citizens across the UK, US, Australia, France, Germany and Singapore are willing to use artificial intelligence (AI) to improve retirement incomes.


Tuesday 20

Majority of adults willing to embrace AI for better pensions

That is according to new research by consultancy firm Accenture, which highlights the potential benefits the technology could have on personal investment strategies and pension schemes.


However, it was found that two-thirds of people are sceptical about governments’ responsible use of AI, with only a third confident the technology would be used ethically.


“Citizens are willing to embrace AI-driven solutions, but they want ­to be sure the government is taking a leading role in ensuring the safe and ethical use of AI,” Accenture group technology officer, Carl Ward, said.


“These findings should be a wake-up call for government leaders to prioritise effective communications regarding the benefits of AI-related technology in delivering services that are secure, smart and fast.”


The research involved a survey of 6,000 citizens, finding that 34% are “confident or very confident” that their government would use AI ethically, 29% are “not confident at all”, while 37% are neutral on the point.


Respondents were also concerned about the impact of technology on job and data security, with 42% thinking that AI takes jobs away from people and only 17% believing it can reduce their chances of getting hacked.


Half said they would support the use of AI in public services, although this varies by country, as shown below:


Source: Accenture


One-third of the respondents said they did not understand the potential benefits well enough to judge whether governments should use AI, suggesting that these are not being communicated effectively enough.


It was also found that public sector workers were more positive about using AI services delivered by the government, and less likely to say that they didn’t understand the potential benefits.


“New categories of digital jobs are emerging that result in improved government services, and citizens want government personnel to explain how AI can improve the delivery of public services,” Ward continued.


“Public sector employees will be a critical component to bridging that gap between advancing AI and engaging with citizens to address concerns while also explaining the benefits.”


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