Originally introduced in late 2022, generative artificial intelligence—led by technologies like OpenAI's ChatGPT—has quickly acquired popularity.
Aiming to benefit on its growth, big technical companies including Microsoft (MSFT, Financials), Alphabet (GOOG, Financials), Meta Platforms (META, Financials), Apple (AAPL, Financials), and Amazon (AMZN, Financials) have expanded efforts in this space alongside startups.
A recent Morgan Stanley survey suggests that the adoption curve of generative artificial intelligence usage may reflect that of Facebook's early growth. With a "low double-digit" percentage of U.S. users confirming regular usage of platforms such ChatGPT, Gemini, and Meta AI, the survey reveals mid-to-high-teens adoption among younger demographics, akin to Facebook's data in 2009.
Monthly consumption currently runs from 35% to 40%, up from earlier projections of 25% to 30%. Conducted in September 2024 among 2,510 American consumers aged 16 and above, the survey has a 90% confidence level margin of error of ±1.8%.
Research is still the most widely used generative artificial intelligence tool even although commercial uses include shopping, recipe searches, and vacation planning are expanding. Though less than 20% of respondents now use, travel planning is expected to grow with projected developments in 2025, including digital trip planners shown by Alphabet's Google.
To promote acceptability, distinctiveness, and industry monetization, Morgan Stanley analysts said, advances in generative artificial intelligence models—improving reasoning and agent skills—will be vital. Using generative artificial intelligence, they stressed the need of following innovation and altering consumer behavior to assess long-term monetizing opportunities for search and retail systems.
