With Voice, Consumers Struggle to Balance Convenience with Trust
Consumer adoption of voice technology remains uneven, according to a new study by PYMNTS, which found that consumers still grapple with balancing convenience and trust.
According to the study, consumers are more comfortable using voice technology for simple, low-risk tasks, such as playing music (38 percent), setting alarms and reminders (35 percent), turning on lights (34 percent), and asking for directions (36 percent). Concerns about data errors and security breaches, though, are preventing them from using voice technology for more complex tasks, like opening bank accounts (11 percent), applying for mortgages or other loans, (9 percent), paying for purchases (21 percent), or scheduling doctors' appointments (13 percent).
Despite current reservations, most consumers expect that as voice technology advances, they will start to trust its ability to handle more complex tasks with less risk. Millennials and high-income consumers in particular expect that within the next five years voice assistants will be equal to human capabilities.
In fact, millennials already complete nearly twice as many tasks with voice as other consumers, the research found.
Based on its data, PYMNTS concluded that businesses that stay updated on voice technology developments and invest in it at the right time will be well-positioned to succeed. The company further notes that voice technology might become as common as the smartphone touchscreen in the near future. By recognizing and adapting to this trend, businesses can enhance customer experiences and stay ahead in the evolving digital landscape, it said.