Technology and consumer well-being

Abstract

This chapter reviews consumers’ interactions with technology and its influence on their well-being and especially psychological well-being. Focus areas discussed in the chapter include smartphones, games, social media, health information technology, artificial intelligence, augmented reality, and virtual reality. Some of the specific technologies considered include chatbots, service robots, the use of virtual and augmented reality in the consumer realm, continuous engagement with digital and mobile technologies, mobile health technologies, and activity-promoting gaming. For the most part, the research shows that technology is not generally detrimental to well-being. Rather, the way technology is used tends to predict whether there are benefits or risks to well-being. The chapter also discusses some extra dangers for the less-tech-savvy and policy recommendations for minimizing and mitigating the risks technology poses without unnecessarily limiting the potentially life-changing benefits. It is recommended that children are educated about the difference between beneficial and problematic smartphone use, that schools should decide when or whether smartphones can be used in classrooms, that cryptocurrencies should be regulated to protect the environment and consumers, and that industry standards are adopted to protect consumers of artificially intelligent friends.