Cisco has released its 2024 Consumer Privacy Survey, highlighting the importance of awareness regarding privacy rights in building consumer trust in emerging technologies, particularly Artificial Intelligence (AI). Among the key findings of the study, which includes data from over 2,600 consumers across 12 countries, 53% of respondents reported familiarity with national privacy laws, a 17% increase since 2019. Those who are informed about privacy regulations are more likely to feel their data is secure, with 81% feeling protected compared to only 44% among those who are unaware.
In terms of the level of importance that consumers place on privacy and data protection, more than 75% say they won't purchase from an organisation they don't trust with their data.
However, when it comes to the actions consumers are prepared to take in order to protect their privacy, a generational divide remains. Younger consumers, aged between 25-34, are more proactive in protecting their privacy, with 49% having switched providers over data policies and data-sharing practices, while only 18% of seniors over 75 took similar actions. The findings also reveal that 64% of young adults are aware of their privacy rights, contrasting sharply with just 33% of those aged 65 and older. Of these groups, 46% of 25-34-year-olds exercised their right to access, correct, delete or transfer their personal data via Subject Access Requests (SARs), compared with 16% of those aged 65 and older.
In addition, the survey indicated that 67% of consumers had reviewed or updated privacy settings in apps or platforms, 68% used multi-factor authentication, and 61% used password managers to safeguard their data.
The survey also revealed that nearly 60% of consumers aware of privacy laws are comfortable using AI, highlighting the role of education in enhancing consumer confidence in technology. This includes a growing acceptance of Generative AI, with annual usage almost doubling to 23%. Concerns over the ethical use of AI persist, with 78% of respondents believing businesses should employ AI responsibly.
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