The impacts of artificial intelligence technologies on premium consumers

Next Sunday, September 8th, another US Open edition will reach its end. In a few days we will know who will be the new champions of one of the most traditional and renowned tournaments of the world tennis circuit. One detail, however, makes this edition different from previous ones: IBM’s announcement about creating a technology solution based on artificial intelligence that analyzes player performance. In the next edition of the tournament, and in all others, tennis players will be able to receive personalized metrics of their performances and their opponents’ performances.

As in the sporting world, technologies linked to artificial intelligence are increasingly present in all segments of society. In the luxury market is no different and systematically, companies and brands that operate in the sector invest in this area to provide outstanding experiences to their customers.

But what is the impact of artificial intelligence on the consumer? To answer this question, a survey was conducted in the United States to identify the opinions of various audiences on the subject. Interestingly, excitement and caution were the most commonly used terms to define feelings when it comes to artificial intelligence. While younger consumers are keen on the subject, savvy consumers are wary of its benefits.

In the buying process and, more precisely, during the consumer’s journey, the study questioned if the artificial intelligence function was a person, what would be its function. While most respondents responded that she should behave like a 24-hour personal assistant, 35 percent opted for someone who runs the household chores, and a total of 25 percent identified that their best use would be as a personal chef.

Another study question addressed the value of artificial intelligence in pointing out customized or customized options to clients. At this point, while 31% of respondents said that new technologies are limiting in this regard, about 37% indicated that artificial intelligence can concretely present options and advantages that customers would not realize without this assistance.

What is clear during the analysis of the survey results is that artificial intelligence is far from unanimous between customers and consumers. Even though innovations are occurring at a high speed, there is still a long way to go for these solutions, in fact, to add value entirely to the purchasing process.

For companies and brands operating in the luxury sector, where technology has a prominent role, especially when it comes to information sharing, one thing is for sure: top quality services, excellent service and innovative and differentiating products. they are still more solid and desirable attributes than the most modern of artificial intelligences.