Study Shows Millennials Choose Convenience Over Security

To those of us consider Tom Cruise the movie star of our day or even Grunge as the music we grew up with, looking at millennials, and the way they view life, is fascinating. These “kids” or young adults, many are brilliant. They really do define “disruption”.

However, that doesn’t mean that this tech savvy generation is always right. In fact, a new study shows just the opposite when it comes to internet safety. Though, they can also teach us a few things and are definitely up to speed on the value of “authentication” (which leads to accountability).

Anyway…South by Southwest, or SXSW, is a festival and conference that is held each year in Austin, TX. This year, a survey was done with some good AND scary results. The company that did the survey, SureID, found that 83% of millennials that were asked believed that convenience is more important than safety. That’s not good. But this is not the only interesting finding, however. On a positive note, the study also found the following:

  • About 96% want to have the ability to verify their identity online, which would ensure it was safe from hackers.
  • About 60% put more value on time than they do their money or safety.
  • 79% are less likely to buy something from a person who can’t prove their identity.
  • 70% feel more comfortable interacting with a person online if they can verify that other person’s identity.
  • 91% say they believe that companies “definitely” or “maybe” do background checks on those who work for them. These include on-demand food delivery and ridesharing. However, most companies do not do this.

What does this information tell us? It says that we are very close to seeing a shift in the way millennials are viewing their identities, as well as how they view the people and businesses they interact with.

Millennials have a need to want to better verify another person’s identity. To support this, just look at dating apps. Approximately 88% of people using them find the idea of verifying the identity of the people they might see offsite as appealing. It’s similar with ride sharing, where about 75% of millennials want to know, without a doubt, who is driving them around.

We live in a world today that is more connected than ever before. These days, as much as 30% of the population is working as freelancers, or in another type of independent work. In many cases, this work is evolving from small gigs to large and efficient marketplaces. Thus, the need for extra security and transparency is extremely important. Sometimes, technology helps us act too comfortably with people we don’t really know, and the study shows that having people prove whom they are will help to create higher levels of trust.

Robert Siciliano personal security and identity theft expert and speaker is the author of 99 Things You Wish You Knew Before Your Identity Was Stolen. See him knock’em dead in this identity theft prevention video.

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