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

The State of Media & Entertainment 2024

Amazon’s Prime Video has now overtaken Netflix as the most-subscribed-to streaming service in the United States, according to data from the research firm Parks Associates. From the article, "The St...

Smart home devices may lure insureds to new insurers

A research study by Parks Associates evaluated insurance opportunities in smart homes and found that 33% of U.S. households with internet would switch their homeowners or renters insurance provider to...

Industry Voices: WISP industry 'hot as ever'

Parks Associates recently reported that 66% of subscribers that get fixed wireless from T-Mobile or Verizon consider their prices to be fair or good. “This compares to 51% of fiber subscribers and 35%...

Central Station Monitoring: A Complete Guide

That’s especially important based on Parks Associates research that shows half of security system owners say they deal with too many false alarms, and more than 60% of respondents say their systems tr...