Asians are more likely than Europeans and North Americans to understand and have confidence in new technologies, with consumers in China and India being the most open to digital tech, and those in France and Germany the most cautious, according to a HSBC’s Trust in Technology report, which looks as attitudes towards digital tools in 11 countries.
Asian consumers are pretty positive about the potential of artificial technology to provide advice, such as when seeking a mortgage. In India, half of those surveyed believe computers can provide more accurate advice than humans, the highest level of trust among the countries surveyed. Interestingly, a mere 18% of Canadians think a computer would be a better adviser.
However, the research discovered that a number of innovations related to finance are still poorly understood. More than half of people surveyed say that they have not heard of/do not know what is meant by:
Distributed ledger technologies such as blockchain (80%)
Robo-advisers and automated investment advice (69%)
Finance apps integrated into social media, such as WeChat or Facebook (60%)
And men, quite naturally, (45% v 38%) believe they are the first adopters of new technology – but the research shows that they tend to use it less than women. So, while men are the heaviest users of PCs and laptops, women are embracing wearables, apps and tablets more than their male counterparts.