Smart Products Report 2020

With rapid technological developments in the fields of artificial intelligence and robotics, products are increasingly becoming "smarter". Smart products are products for private use that have the ability to collect and process data and to react to their environment. This novel type of product is thus increasingly able to perform tasks autonomously. In collaboration with the intervista institute, the authors conducted a representative study with 1004 participants, focusing on the use and perception of smart products (smartphone excluded) in Switzerland. The following key findings were obtained: Currently, 72% of the Swiss population own smart products with smart TVs, smartwatches, smart navigation systems, and robot vacuum cleaners being the most frequently owned products. By the end of 2020, the number of users is expected to rise to 81% of the population. With the evolution from traditional to smart products, there are new benefits and risks. The main advantages are seen in the high convenience factor, the following of trends and technology, and time savings. However, negative attitudes are also evident, with the greatest concerns being the collection of personal data, the high costs, and a too strong focus on technology in people’s lives. In addition, the findings show that the relationship between humans and products is about to change. Almost a quarter (24%) of users have nicknames for their smart products (i.e., they use human names instead of the actual product name). Furthermore, the interaction with these products is perceived as collaboration. Smart products are thus increasingly personified by consumers and products gain in humaneness. Overall, the study shows that the general population uses smart products already quite extensively and that these products entail distinct benefits and risks that firms and policy makers need to address.