Ahead of the World Economic Forum in Davos last week, telecommunications company Edelman released its annual Trust Barometer, showing once again that businesses are the most trusted institutions in polls, ahead of NGOs, governments and the media.
According to Edelman's metrics, 63% of the public trusts companies to do the “right thing.” Compare this to 59% who trust NGOs, 51% who trust government, and 50% who trust media. But doubts creep in when asked to rank their trust in institutions on more specific issues.
For example, when we ask which institutions we trust to manage the integration of innovative technologies and society, no institution is truly “trusted.” The company still leads the pack, scoring 59%, but falls just short of Edelman's 60%, the standard for what he considers to be truly “trustworthy.” NGOs (54%) and governments (50%) occupy the same gray area of “neutral” public sentiment, while the media (48%) languish in the “distrust” zone.
“The big takeaway for me is that enabling innovation is just as important as inventing it and implementing it,” says Tonia Reese, executive director of intellectual property at the Edelman Trust Institute. “When innovation is poorly managed, people feel fear and anxiety that they will be left behind.”
AI is on everyone's minds at Davos, and the year ahead will undoubtedly prove how well the technology can be implemented in society.
Ries said leaders in the AI field have historically been slow in introducing new tools to the public, making products like ChatGPT available to the public in their early stages, and being (gradually) transparent about their development. I think I've done a good job. But now that AI has been introduced, how can businesses manage its integration?
Well, they need help. Edelman's research shows that while corporations are the most trusted group, they are not the most trusted entity. The public trusts scientists and their colleagues (74%) far more than CEOs (51%), journalists (47%), and government leaders (45%) to inform them about innovation.
Reese says part of the reason scientists and colleagues are the most trusted individuals is because they are perceived as relatively independent. The survey also shows that the public is concerned about the politicization of science, but says, “There is a general belief that scientists serve a higher truth independent of money and politics. People still believe in the idea,” Reese said.
The perception of good scientists creates embarrassment for companies trying to convince a skeptical public that innovation is good for them. Companies need to leverage the voices of scientists to gain public trust, but by partnering with scientists they risk undermining the independence that makes experts trustworthy in the first place.
Case in point: Edelman shows that scientists have a 74% confidence rate, but “corporate technical experts” (many of whom are qualified scientists) only have a 66% confidence rate. I am.
“Elevating expert opinion is important,” says Rees. “Doing it in a way that clearly shows you value their expertise, not just because your logo is on their shirt sleeve, makes the opinions of scientists and experts trustworthy and genuine. It’s part of making sure that people are seen as such.”
Ensuring that the public understands the ins and outs of new technology and not being bombarded with jargon and technical talk is as important as ensuring that the public feels heard about the interface between technology and society. This is extremely important in building trust. The most important thing is that success cannot be achieved by one group alone. Achieving that will require a collective effort from experts, regulators and businesses.
But as a journalist (47%), don't just take my word for it. You can read the full report here.
Eamonn Barrett
eamon.barrett@fortune.com
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