TELUS survey: most people are concerned about AI and data privacy

The size of the artificial intelligence (AI) market is expected to grow significantly in the coming years, with projections that it will reach $1.81 trillion globally by 2030, growing at a compound annual growth rate (CAGR) of 36.6% from 2024 to 2030. In the U.S. alone, the AI market is expected to reach $851.46 billion by 2034, growing at a CAGR of 19.3%. Meanwhile, over one third of U.S. startup investment has gone to AI-related companies so far this year.

So, the question of if this technology is coming is answered, but not the question of whether or not people are actually ready for it.

On Wednesday, global communications and information technology company TELUS released findings from its 2024 Data & Trust survey, revealing growing concerns about data privacy among American consumers.

The 2024 Data Trust Survey, which was asked 1,000 Americans about their attitudes towards data privacy, trust in organizations, and expectations for responsible data practices, found that there's a significant trust gap when it comes to AI: the vast majority, 86%, said they wanted AI being developed with care, while 81% said they want AI to be presented with clarity and transparency.

They also want to be involved in that development, as 74% of respondents said that they  want AI to developed in consultation with everyday people, rather than only academics or technologists.

"We recognize the importance of developing technology with trustworthy practices and the value of engaging diverse voices in the development of our AI tools and services," Pam Snively, Chief Data & Trust Officer at TELUS, said in a statement. 

"People are telling us what they need to trust data and AI: they want companies to ask for and listen to customer input, for data ethics experts to be involved, and for transparency in the explanations on how AI is used in a way that is understandable to everyone. Organizations need to listen and act on these concerns."

There's also general distrust about how data is being handled as well, with the survey also showing that 82% believe data privacy matters more to them now than ever before, with 74% expressing worry about how organizations handle their personal data. In all, over half of respondents said they think about their data privacy on a daily basis.

The survey also focused on the importance of trust, with 88% of respondents saying a company's reputation for data handling is important to them when deciding to do business with them, while 86% said their trust in a business inspires them to buy or use that company's products and services.

Trust will also get 67% of respondents to advocate for those brands when it comes to their friends and family, posting on social media, and sharing reviews.