91% of consumers open to use Gen AI-powered financial apps

New Delhi: New findings have revealed strong interest in generative artificial intelligence (Gen AI)-powered financial service amongst Indian consumers, with 91 per cent of consumers saying they are open to using a GenAI-powered financial application if one became available in the future, citing their preference for new technology (60 per cent) and the desire to save time (56 per cent) as their primary motivators, according to a report released on Tuesday.

Technology solutions provider FIS' Trust in Generative AI research found that Indian consumers have a higher level of trust towards the technology in comparison to other major markets. Only 3 per cent said they do not trust GenAI at all -- contrasting sharply with 33 per cent in Australia, and 30 per cent in both the UK and the US.

Additionally, 88 per cent of Indian consumers said they trust their bank to use GenAI in its operations, which is significantly higher compared to other countries surveyed.