Americans Trust Artificial Intelligence with Their Health, Not Their Money

April 11, 2018, Written By Lynn Oldshue
Americans Trust Artificial Intelligence with Their Health, Not Their Money

According to a new survey from analytics company SAS, consumers feel safer using artificial intelligence for healthcare than for banking. Sixty percent of respondents felt comfortable having a doctor use AI to suggest medical treatment, but only 31% trust AI to access their credit history for credit card recommendations.

Only 35% of respondents believe their data was stored securely, while 69% of adults over 40 and 58% of adults under 40 were worried about the security of their personal information. Respondents said the biggest concern with AI is a lack of human interaction—automation in a world that is not yet fully automated.

Consumers said they trusted artificial intelligence if they had something significant to gain from it. For instance, 52% of respondents over 40 and 40% of respondents under 40 were willing to undergo AI-assisted surgery. Fifty-nine percent felt comfortable with banks using intelligence to check for financial threats, such as unauthorized credit applications or charges to their accounts.

In October 2017, a separate analytic firm known as PWC conducted a study about the use of artificial intelligence in the financial sector. The survey confirmed AI was most prevalent among insurance companies, with 54% using the technology to analyze fraud. Banks were using chatbots for customer service, but they had refrained from implementing widespread artificial intelligence.

The PWC study concluded that America is more likely to see a shift toward augmented intelligence, where humans use artificial intelligence to make informed decisions. This would eliminate the concern of no human interaction, while still allowing consumers to benefit from advanced technology.

The information contained within this article was accurate as of April 11, 2018. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
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