Unlocking 14 Extra Hours a Week: Can AI Benefit the Wealthy Who Can Afford Time?

AI tools are transforming daily life by automating tasks and potentially reclaiming up to 110 minutes of free time each day, according to research from Lloyds Bank. This promise of increased leisure is appealing, especially amidst a hectic lifestyle filled with work and family commitments. However, the benefits seem disproportionately favor high earners, as 99% of those making over £100,000 value additional time, compared to 86% of the general population. While 60% of respondents express a willingness to adopt new technologies for time-saving, affluent individuals are far more likely to utilize advanced AI tools. The study highlights household chores and financial management as primary time drains, with nearly half of respondents citing chores as their biggest burdens. Although accessible technologies like banking apps are widely used, advanced AI tools often come with high costs or require skills that many lack, raising concerns about equitable access to time-saving innovations.

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