The article discusses the growing preference of Gen Z consumers for AI chatbots over traditional phone calls, as highlighted by Max Levchin, the CEO of Affirm, a buy now, pay later (BNPL) company. Levchin notes that Gen Z customers are more inclined to engage with AI chatbots for customer service inquiries rather than making phone calls. This trend aligns with the broader shift towards digital and automated interactions, driven by the tech-savvy nature of younger generations. The article also touches on the BNPL industry, which has gained significant traction, particularly among younger consumers seeking flexible payment options. Levchin predicts that by 2024, the BNPL market will reach $1 trillion in annual volume, underscoring its growing importance in the retail and fintech sectors. The article highlights the intersection of AI, chatbots, and the evolving consumer preferences of Gen Z, shaping the future of customer service and payment experiences.
Source: https://www.businessinsider.com/gen-z-prefers-ai-chatbots-phone-calls-affirm-ceo-bnpl-2024-5