Accenture has released its new Life Trends report, revealing how technology is impacting consumer trust in Australia, as a rise in scam activity blurs the lines between real and deceptive content, disrupting online experiences.
The report reveals how the acceleration of generative AI content into all places where Australian people have traditionally discovered, socialised and shopped online is causing trust issues and fueling hesitation:
The Life Trends report highlights the following five technology trends:
1. Social rewilding
Australians are seeking deeper and more authentic experiences that reconnect them with nature and each other, a movement Accenture defines as social rewilding. This trend reflects a desire to balance technology with meaningful, sensory-rich interactions.
Around six in 10 (59%) respondents said their most enjoyable experience in the previous week was a physical one, while only 15% said it was a digital one. Close to one-third (28%) said theyincreasingly appreciate the ‘joy of missing out’ on technology.
Respondents also shared that they’re engaging in more in-person activities in the last 12 months with one in three (33%)spending more time with their friends in real life.
2. Era of mistrust
Australians lost over $7 million to online shopping scams in 2023. The acceleration of generative AI content is causing trust issues and fueling hesitation with around two-thirds (67%) of Australians saying that trust is an important factor to them when choosing to engage with a brand, while 59% said it was ‘convenience’.
Close to half (47%) say they question the authenticity of product reviews, while 63% are questioning the authenticity of online content more than before with 27%having experienced deepfake attacks or scams for personal information and/or money.
3. Impatience economy
The immediacy of modern life is fostering impatience and new behaviours to match. Technology makes it easier to find new routes to pursue a goal, with people seeking relatable advice on life’s complexities through social channels. Australians are using opportunities such as social media and other digital platforms to get to a desired result faster/easier.
One in three (32%) said they get inspiration from social media on how to do things smarter. For those aged 18-34, it’s closer to half (47%). Technology is empowering people to find new ways to earn, spend and invest than ever before. In the past year, 9% of respondents said they have started a new side hustle to make extra money.
4. The parent trap
Social media is increasingly becoming a concern for Australian parents. Accenture’s research shows that the impact of social media in daily life is piling up, yet people struggle to break behaviour patterns and habits.
Australians aged 18 to 24 are more than five times as likely than those over 55 to agree that social media significantly impacts how they think about their own identity (40% versus 8%). About two-thirds of Gen Z and Millennials surveyed globally strongly agree that they’re spending more time online than they would like to (67% and 64% respectively).
5. Dignity of work
Workplace relations are coming under strain with changing industrial relations, fears about AI job replacement, and a crackdown on workplace flexibility such as return to office mandates.
Australians value work/life balance most highly (64%) ahead of salary (50%), job security (50%), flexibility working time and arrangements (44%) and personal growth (15%).
Six in 10 (60%) employees globally are concerned about generative AI increasing their stress and burnout, but only 37% of leaders see this as a problem. ‘Improving productivity and efficiency’ is the message most frequently heard (36%) by Australian employees from their employers on Gen AI— more often than any other message. 61% find the use of generative AI tools in daily tasks helpful.