While rapidly developing artificial intelligence (AI) technologies seem to simplify our lives, AI users are more worried about data privacy than being replaced by the technology at work. AI tools shape our professional and social lives, bringing privacy concerns to the forefront.
Despite rising concerns about job loss due to AI, the impact of AI on personal privacy has become a significant issue. A KPMG survey revealed that around 1,000 college-educated US consumers believe AI’s benefits outweigh the associated risks. About 42% said generative AI tools have significantly impacted their personal lives, while 58% noted its influence on their professional lives. Additionally, 51% expressed excitement over generative AI.
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More than half of the KPMG survey participants believe generative AI will enhance various aspects, from physical health to cybersecurity and personalized recommendations to education. However, concerns about fake news, AI scams, data privacy, disinformation, and cybersecurity were prominent. Also, 51% were worried about job losses due to AI.
Regarding federal AI regulations, 60% of Gen Z and Millennial respondents felt current regulations were adequate or excessive. Meanwhile, 36% of Gen X and 15% of Boomers and Traditionalists agreed with current government AI regulations.
Biden Administration’s Executive Order on AI
On Oct. 30, 2023, the Biden administration issued an executive order for the safe, secure, and trustworthy development and use of AI, aiming to protect Americans from potential AI risks. This order requires AI companies to share security test results and other information with the US government and introduces new rules to combat AI-related fraud through verification.
Additionally, the US Federal Trade Commission (FTC) launched a broad investigation into OpenAI last year for potential consumer protection law violations. In January, the FTC began investigating the generative AI investments and partnerships of Alphabet, Amazon, Anthropic, Microsoft, and OpenAI. In early June, reports emerged that the Department of Justice would investigate chipmaker Nvidia’s role in the AI boom.
