Consumers Have High Expectations for the Tech Sector, But Companies Are Falling Short

The tech sector is an economic force that holds the status of the undisputed king of the global economy, with multiple trillion dollar companies being a part of it. In spite of the fact that this is the case, consumers seem to have high expectations of tech companies, with many agreeing that they need to be broken up with all things having been considered and taken into account.

In a survey conducted by the Morning Consult, it was revealed that there is a massive gap between what customers want and what tech companies are actually doing. A 21 point gap was noted in the percentage of customers that want companies to pay their fair share of taxes and the ones that were following through with this requirement, the biggest gap of all. 72% want companies to do more to protect sensitive data, yet just 57% feel like these companies are meeting their needs.

With all of that having been said and now out of the way, it is important to note that companies are prioritizing shareholder interests far more than customers want them to. Perhaps the biggest gap of all can be seen in the way consumers want to add increased regulations around AI because of the fact that this is the sort of thing that could potentially end up reining it in somewhat.

42% of Republicans said that they wanted increased regulation for AI back in April. In June, this number skyrockets to 52%, indicating that more Republicans are on board with AI regulation than might have been the case otherwise. This isn’t just a partisan issue either, with 55% of Democrats also wanting AI to be regulated more than it is right now, compared to 52% that said the same in April.

However, it bears mentioning the consumers haven’t written tech off entirely. Over half of survey respondents said that tech’s best days lie ahead, with just 18% indicating that the golden age of tech is behind them. Either way, the gap is growing between consumer expectations and corporate performance, and something must be done to reduce it.

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