Providing Market Intelligence for 40 Years

In The News

The Smart Money: AI Moves from Promise to Platform

At Parks Associates' CONNECTIONS Conference, the AI data was encouraging, but the gaps – trust, complexity, and monetization – remain unsolved.

AI dominated all three days of Parks Associates' 30th annual CONNECTIONS Conference, linking security, energy, health, broadband, and workforce – but monetization, trust, and reduced complexity will determine how fast it transforms everyday living.

Across three days of Parks Associates' 30th annual CONNECTIONS Conference, AI emerged as the defining theme linking security, energy, broadband, infrastructure, mobility, and the future workforce. The message was consistent: AI is here, but the industry's ability to monetize it, build trust around it, and make it useful without overwhelming consumers will determine how quickly it transforms everyday living.

Parks Associates research shared during the opening workshop found that 58% of U.S. internet households use AI, while 16% pay a fee for AI tools. Jennifer Kent, SVP and principal analyst, noted that consumers now own an average of 17.8 connected devices – a wide installed base for AI-enabled services. But adoption does not equal trust. AI tools carry a Net Promoter Score of just 4, underscoring a significant gap between usage and confidence.

Additional data points from Parks Associates research of 8,000 U.S. internet households:

  • Roughly 50% of households have some form of security solution.
  • 31% of consumers intend to upgrade their security camera.
  • Rapid Response Monitoring reports it can clear 93% of calls without dispatching when richer context is available.
  • John Mack of Raymond James cited roughly $8 trillion in cash on corporate balance sheets globally, creating investment pressure around AI-enabled security and safety.

From the article, "The Smart Money: AI Moves from Promise to Platform" by Elizabeth Parks

 

Previously In The News

Security Practices For Smart Homes

As devices in the home connect to the Internet, they make our homes vulnerable to hackers. With Parks Associates predicting more than 50 million connected homes by 2020, it’s time for developers to ma...

Cloud Platforms and the Connected-Device Value Chain

Internet of Things cloud platforms offer device makers and companies the opportunity to greatly expand the value of products and services. These devices are reshaping the value chain by altering produ...

Competition and Regulation Threaten Sharing Economy Markets

Eighty-three percent of U.S. broadband households, or more than 250 million consumers, own and use a smartphone. A recent beneficiary to this mass adoption has been the sharing economy phenomenon, whi...

3 New Smart Home Devices Controlled by Google Assistant

Google Assistant, along with other voice-control platforms like Amazon Alexa and Apple Siri, is gaining steam as a smart home control solution. According to a study by Parks Associates, consumer adopt...