Artificial intelligence is officially mainstream. According to Visa’s latest American Mood Trend report, more than 20% of U.S. consumers who use generative AI now do so daily, a clear sign that tools like ChatGPT, Gemini, and Copilot have become part of people’s everyday routines. But beneath that adoption lies anxiety: many consumers are uneasy about losing control, privacy, and even their jobs as AI continues to advance.
Why it matters: For the credit and collection industry, where AI is rapidly transforming communications, analytics, and compliance, Visa’s findings serve as a powerful reminder: while consumers may appreciate faster, smarter service, they are watching how organizations use AI closely.
What the report says: The study, conducted by Visa Business and Economic Insights, found:
- Trust and control are top barriers to broader adoption. Consumers worry about the reliability and transparency of AI-generated results.
- Data privacy and security dominate consumer concerns. Even among those willing to use AI, nearly everyone fears data misuse or loss of control over how information is handled.
- Job security fears are rising, especially among Millennials and Gen Z. More than one-third of adults aged 18–44 are concerned about automation replacing their work.
- A “control gap” shapes adoption: 52% of consumers unlikely to adopt agentic AI (autonomous systems that make decisions on their behalf) cite a lack of control over processes as their main objection, more than double the rate of likely adopters.
The bigger picture: Consumer confidence in the broader economy is slipping as optimism about the labor market wanes. Visa reports the “future expectations” component of the Consumer Confidence Index has been stuck in the recession “danger zone” for eight consecutive months, underscoring how economic unease and AI anxiety are intertwined.
The takeaway for collections: As collection operations roll out AI-driven chatbots, analytics, and decisioning tools, transparency and consumer control will be crucial. Consumers want to know how AI is being used, why decisions are made, and how they can opt out or correct errors. Agencies that clearly communicate these points, while also building trust through data stewardship, will likely stand out as AI adoption accelerates.
In short: consumers are ready for AI-powered service, but only if it feels secure, fair, and human-guided.
