2024 American Perspectives Survey - Boston

• Nearly half (47%) of people in Boston are optimistic about their personal financial situation in the next year, compared with just 27% who are not. However, this optimism does not extend to the U.S. economy: 41% of Bostonians are not optimistic about the growth prospects for the U.S. economy, compared with just 34% who are optimistic.
• Overall, people in Boston are less optimistic than the national average. There is a 20-percentage-point difference between Bostonians who are and are not optimistic about their personal financial situation (47% optimistic vs. 27% not optimistic) compared to a 30-point difference nationwide (54% optimistic vs. 24% not optimistic). Additionally, on net, 7% more people in Boston are not optimistic about the growth prospects of the U.S. economy compared to just 1% nationwide.
• Bostonians are slightly less optimistic about their disposable income over the next year compared to the national average. In Boston, 37% are optimistic compared with 35% who are not, compared to 44% and 32%, respectively, nationwide. Bostonians also report they plan to do more discount shopping (71%) compared with Americans nationwide (65%).
• Looking at gender breakdowns, men nationally are slightly more optimistic than women about the growth prospects for the U.S. economy over the next year. In Boston, that gap is more pronounced as double the number of men express optimism about the economy compared to the women surveyed, 46% vs. 23%. Similarly, 58% of men in Boston are positive about their personal financial situations vs. just 36% of women. 

• Over one-third of Bostonians are using GenAI at least monthly at work, and nearly 40% report it is having at least a somewhat significant impact on them both personally and professionally. Of those using it in their personal lives, one-third report using it to ask questions as they would in a search engine.
• Trust in GenAI outputs is a concern for Bostonians. Over three-fourths (76%) worry that GenAI could be used to manipulate public opinion or sway important decisions.

Banking:

• Nearly half (49%) of Bostonians are comfortable with GenAI advice related to credit card choices, and 40% are comfortable with GenAI advice related to budgeting.
• However, Bostonians are not comfortable with GenAI advice for investing (43%), mortgages (37%) and life insurance (37%).
• Comfort levels also vary among generations as 45% of Gen Z and 58% of millennials in Boston are comfortable with GenAI budgeting advice from their bank, compared to just 32% of Gen X and 29% of boomers.

Government services:

• Only 24% of Bostonians feel government agencies are adequately leveraging technology to improve their services compared to 30% of Americans nationwide. People in Boston say it is important for the government to use GenAI for services such as the DMV (56%), healthcare benefits (56%) and Social Security (50%) to improve their experience.
• Despite expecting government agencies to use technology to a greater extent, half of people also express concern about a possible cybersecurity breach being more likely at a government agency than at a private sector company. 

Healthcare:

• Bostonians believe there are benefits to using GenAI in healthcare. Nearly half (45%) believe it will improve the consumer experience enhancing telehealth, helping schedule appointments and refilling prescriptions.
• However, they have concerns about the lack of human interaction and empathy (57%) when using GenAI in healthcare, reliability and accuracy of AI-generated diagnoses (57%), and privacy and security of personal health data (52%).

• Twenty-three percent of Bostonians are planning to do more shopping in person vs. 32% nationally and only 16% of Bostonians will shop on brand apps or at brands discovered on social media.
• In Boston, Gen Z is focusing on shopping with sustainability in mind even if it means higher prices (24% in Boston vs. 20% across all generations nationally) and shopping via social media (39% in Boston vs. 12% across all generations nationally).
• While 26% of Gen Z shoppers in Boston are planning to use buy now, pay later services, only 16% of millennials plan to do the same. Furthermore, 26% of Gen Z plan to shop using brand-specific apps, compared with only 19% of millennials.  

• Just over 30% believe GLP-1s are not important to them personally.
• Of Bostonians who view GLP-1s as potentially important to them personally, 31% believe taking GLP-1 drugs would improve their quality of life by helping with overall health, significant weight loss or a specific health issue. Only 19% believe they are too risky, while 18% believe the benefits are difficult to predict.
• The majority (72%) would not be willing to pay out of pocket for the drugs, and only 13% would be willing to pay higher insurance premiums for coverage.
• Gen Z (43%) and millennials (38%) in Boston are more likely to indicate GLP-1s are important or very important compared to previous generations.