HSBC’s new global research report, Trust in Technology, which includes research from over 12,000 people in 11 countries, finds people in the UAE are ahead of the West when it comes to adoption of new technologies due to greater understanding and optimism.
More than two-thirds of people (77%) prefer doing most things with new technology when they can, the third highest after India and China, versus 49% in Canada and 51% in Germany.
According to the research, people in the UAE rank near the top of the markets surveyed regarding positive attitudes towards technological innovation.
UAE (25%) has the third highest adopters of fingerprint technology, after China (40%) and India (31%), versus 9% in France and Germany, and 14% in Canada.
The global findings also suggest that trust in technology and its adoption are driven not only by consumer trends but can be encouraged by a wider governmental support.
A 2016 United Nations report shows that the UAE is listed among the world’s leading countries concerning the level of progress in e-governance and e-participation.
Technology is so popular among UAE residents that almost 3 in 10 (29%) will switch bank if they find another with a better technology offering.
However, only 38% show extreme concern for their data being leaked.
About 60% of people in the UAE believe that in the next ten years we will only use biometrics to access financial information.
Fast paced awareness, trust, and adoption of technologies including biometrics, chatbots and digital wallets in the UAE has seen the nation overtake the traditional Western technology trailblazers.
For instance, 77% people in the UAE prefer doing most things using new technology when they can versus just 49% in Canada and 51% in Germany.
The adoption of fingerprint recognition, a widespread consumer technology, highlights these contrasting perspectives.
People in the UAE are the highest users of fingerprint recognition technology to unlock their devices across the markets surveyed, at 55%.
They also place extremely high levels of trust in available forms of biometric technology (fingerprint, voice and iris recognition), with 66% trusting it to replace their passwords.