In today’s ever-evolving business landscape, staying ahead of the curve in marketing is paramount. Gen Z, the trailblazers of our time, are a demographic that companies can’t afford to overlook. Recent insights from ScholarshipOwl’s groundbreaking survey offer a unique opportunity for businesses eager to tap into this market by adopting a fresh marketing channel.
Gen Z’s Quest for Scholarships and AI
In August 2023, ScholarshipOwl conducted a comprehensive survey to delve deep into the psyche of Gen Z students. Our aim? To uncover their attitudes towards artificial intelligence (AI) and its potential influence on scholarships. The findings were nothing short of remarkable, with a staggering 96% of respondents expressing a keen interest in utilizing AI to streamline their scholarship search and application processes.
Demystifying Gen Z: Who Took the Survey
Our survey reached a diverse pool of participants, comprising high school and college students who actively engage with the ScholarshipOwl platform. Among the 6,845 respondents, 63% were female, 36% were male, and 1% identified differently. The ethnic diversity was equally impressive, with 43% being Caucasian, 25% Black, 18% Hispanic/Latino, 7% Asian/Pacific Islander, and 6% belonging to other groups. This eclectic mix also spanned different academic stages, including 38% high school students, 53% college undergraduates (primarily freshmen and sophomores), 7% graduate students, and 2% non-traditional adult students.
Gen Z’s Early Embrace of AI
While AI remains an emerging technology, Gen Z students are proving to be early adopters. A remarkable 67% of respondents admitted to experimenting with generative AI tools. This underlines their readiness to embrace technology and adapt it to their unique needs.
AI Beyond Fun and Games
The survey explored Gen Z’s experiences with AI tools. A significant 40% found these tools fun and exciting, while 35% reported that AI made their academic tasks more efficient. Moreover, 37% of respondents saw vast potential in AI, generating numerous ideas for its application in their lives. Only 11% felt that AI was entertaining but lacked practicality, while 8% expressed anxiety or fear regarding their AI interactions. Interestingly, 19% were yet to explore generative AI tools.
Gen Z’s AI Wishlist for Scholarships
In the final survey question, students revealed their desires for AI’s role in the scholarship realm. A resounding 92% wished for AI to simplify and expedite the scholarship application process. Furthermore, 76% wanted AI to help them discover scholarships that truly matched their profiles. Additionally, 61% sought AI assistance in locating rare and unique scholarships for which they were uniquely qualified. Similarly, 61% desired AI’s guidance in avoiding fake scholarships and scams. Over half (56%) wished for AI’s assistance in identifying scholarships with the highest chances of success, while 44% wanted AI to streamline the application tracking process and provide real-time notifications. Nearly the same number (41%) sought AI’s aid in crafting application essays, while 37% wished for AI to find scholarships with similar requirements for document reuse. Remarkably, 25% envisioned AI applying for scholarships on their behalf, reducing their involvement to a minimum, while only 4% expressed discomfort with AI’s involvement in the scholarship journey.
The Gen Z Opportunity for Businesses
The survey outcomes offer valuable insights for businesses targeting Gen Z consumers. With their overwhelming interest in AI for scholarships, there’s an untapped market ready for engagement. ScholarshipOwl is already pioneering the integration of AI, machine learning, and proprietary technologies into its platform. Through ScholarshipOwl Pro, students gain access to personalized scholarship recommendations, a feature that aligns with their preferences and odds of success. The AI-powered ScholarshipOwl Similarity Engine suggests similar scholarships for streamlined applications, while the Magic Sorting feature enhances scholarship matching accuracy.
Additional, credibility scores assist students in focusing on reputable scholarships, and insights into the number of applicants allow students to target scholarships with lower competition, thereby increasing their chances of success. Automated reapplications for year-round scholarships and real-time application tracking enhance the scholarship journey.
Seize the Gen Z Market
Businesses can seize the opportunity to connect authentically with Gen Z students by creating and launching scholarship campaigns through the ScholarshipOwl for Business platform. This platform leverages AI, machine learning, and proprietary technologies to reach millions of Gen Z students engaged with ScholarshipOwl, the premier scholarship platform. By aligning with Gen Z’s scholarship aspirations, brands can establish meaningful relationships in support of their marketing and communication objectives.
To discover more about crafting and launching a scholarship campaign that resonates with Gen Z, visit business.scholarshipowl.com. It’s time to harness the power of AI and unlock the potential of the Gen Z market for your business.
