The vast majority (87%) of Australian consumers are concerned about identity fraud and have concerns about artificial intelligence (AI) impacting their identity security, the Ping Identity 2024 Consumer Survey has revealed.
The data shows the desire for seamless digital experiences is widespread, with almost three-quarters (73%) wanting changes to how they log in to apps and websites.
The findings underscore heightened expectations around the digital experience, with password frustrations and authentication preferences rising to the forefront. 88% have complaints about passwords, with 60% admitting they have too many to keep track of.
Security (77%), ease of use (77%), and privacy/consent (66%) are top concerns for consumers when interacting with online brands. More than half (55%) have stopped using an online service because they became frustrated when trying to log in.
Consumers are reassured that multi-factor authentication (53%), one-time logins (50%), and biometrics (36%), are perceived as both secure and convenient.
However, almost all of those surveyed (96%) have concerns about their personal data being online, with only 7% having full trust in organisations that manage their identity data. One in three (33%) have fallen victim to identity fraud, with financial identity fraud (19%), account takeover (8%), and impersonation (7%) being the most common.
As AI and decentralised identity (DCI) gain wider adoption among businesses, consumers remain hesitant about adopting these technologies that could offer a better and more empowered experience. 84% admitted barriers to adopting a digital wallet on their personal mobile device, with common hesitations including loss of their phone (52%) and increased security risks from cyberattacks (43%).
Despite more than one-third (36%) of consumers using AI in their personal and/or professional life, 69% would still prefer to speak to a human to gain additional support, even if that experience takes longer.
Ping Identity Australia and New Zealand vice president, Ashley Diffey said, “Today’s challenging economic times leave no room for complacency. The companies that will survive and thrive are those that consistently provide customers with a seamlessly secure digital experience.
“By harnessing new technologies such as AI and digital credentials to personalise experiences and empower control, businesses can shape a future where login burdens are few and trust in personal identity security is commonplace.”