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Google (NASDAQ:GOOG)(NASDAQ:GOOGL) is the most common company consumers associate with artificial intelligence, according to a survey by Jefferies.
When asked what companies one most associates with AI, 63% of consumers thought of Google. This was followed by OpenAI at 51%, Meta Platforms (NASDAQ:META) with 44% and Microsoft (NASDAQ:MSFT) at 28%.
Despite the relative freshness of Google’s AI Overview, 41% of consumers preferred it over traditional search options. However, 61% said they would use a non-Google AI platform for search.
However, despite consumers utilizing AI in applications and search, 41% of respondents indicated that were not willing to pay for an AI service such as ChatGPT, while 20% said they would only pay between $1-$5 per month.
This might be because there are not many “AI killer apps” yet. The vast majority of consumers only use AI for summarizing information, learning new concepts or correspondence. The survey found 27% of consumers have used it to create art and 11% have harnessed AI to generate music.
However, responses from office workers differed from the standard consumer. For example, 27% of workers surveyed said they used OpenAI, ChatGPT or Dall-E at work. Google and Microsoft AI products were only used by 15% and 14%, respectively. Adobe (ADBE) Firefly was used by 9% of workers.
The primary tasks of AI by workers included summarizing information, analyzing data, correspondence and automating tasks.
The survey respondents included 700 consumers and 800 workers. The results prompted Jefferies to reiterate its Buy rating of Google and increase it price target to $215 from $200.