64% of people surveyed by Ipsos claim to have a good understanding of what AI is, but only half trust companies in the AI sector as much as other companies. These figures depend massively on the country, with just 41% of Japanese respondents claiming to have a good understanding of AI compared to almost 78% in South Africa.

Much of this trust correlates with familiarity with AI. With 60% of respondents expecting AI products and services to profoundly change their day-to-day lives over the next five years, companies in this sector can be confident that this expansion will lead to a higher number of people who trust AI companies.

The trust in AI companies also has a strong correlation with the economic development of a country. Nations with emerging economies such as China, Saudia Arabia and India have a large majority that trusts businesses that use AI (76%, 73% and 68% respectively), whilst in the Global North only around 1 in 3 people do. Respondents from Canada, France, the USA, the UK and Australia all polled between 34% and 36%.

These trends continue when asked if AI-powered product make lives easier and have more benefits than drawbacks. What is clear, however, is the hugely positive future for AI companies. The regions and nations which trust and value this technology the most are those where populations and economies are growing rapidly, meaning huge markets for their products.

To read the full Ipsos survey click here.