Gen Z Trends 2024: Outlooks on AI, Spending & Experiences

Published 15 July 2024

Author
Nienke Creemers
2 min read

At its youth trends 2024 presentation (25 June 2024), London-based insights and strategy agency Pion delved into Gen Z’s outlook on artificial intelligence (AI) and finances. Key takeaways included young people’s use of AI tools when job hunting, and the tension between their saving and spending behaviours.

  • Future of AI at Work & School: According to Pion, 21% of Americans and 19% of Brits aged 16-26 now use AI tools when applying for jobs. “[AI can help people] figure out what they should say, or how they should structure themselves in an interview process,” noted London-based finfluencer (financial influencer) and content strategist Aash Thapa. He also highlighted AI-supported CV builders as being particularly popular with young professionals.

    Meanwhile, students are becoming frequent users of AI. In the UK, 79% of 13- to 17-year-olds and 40% aged seven to 12 have experimented with AI services (Ofcom, 2023). For insight into the implications of growing up alongside AI, see 10 Youth Trends to Watch 24/25.

  • Financial Security vs Enjoying the Now: According to Erifili Gounari, founder of UK Gen Z marketing agency The Z Link, “Gen Z is [experiencing] a dichotomy between the urge to go for financial security […] and the urge of wanting to really live in the present [and] take advantage of right now.”

    Youngsters want to spend on experiences like holidays, regardless of the cost. On average, 65% of UK and US 16- to 26-year-olds think being present in the moment is more important than the associated cost of an experience (Pion, 2024). To fund these experiences, 77% of UK Gen Zers are using some form of credit or financing agreement, most commonly credit cards (52% in the US and 40% in the UK) and ‘buy now, pay later’ schemes (19% US and 27% UK). See 10 Consumer Finance Trends to Watch 24/25 for more.

 

For further context, read Gen Zalpha Futurescapes.