He Edelman Trust Barometer 2024 reveals a gap between innovation and society, which has become the new polarizing factor. By a margin of almost two to one, respondents believe innovation is poorly managed. This perception applies to all ages, income levels and genders and in both developed and developing countries.
“Innovation is accelerating and should be a factor for growth, but it will be held back if companies do not pay the same attention to social acceptance as they do to research and development.”It says Richard EdelmanCEO of the company. “More than two-thirds of respondents who believe innovation is poorly managed believe this.” Society is changing too quickly and not in a way that benefits “people like me” (69%). The class divide, the wide gap in trust between companies and governments, and the infodemic (abundance of information of varying reliability, including unreliable data) were the main causes of the loss of trust and polarization..
The Companies are best positioned to reverse this trend because they are most trustworthy institution, both in general and in the introduction of innovations in society. But they have to focus on it Explain the impact of innovation and its positive outcome for society, not just investors. However, companies cannot do this alone, as the Trust Barometer has seen a 15 percentage point increase in the proportion of people saying this (from 45% to 60%) over the last decade Cooperation between business and government in the development and implementation of technological innovations It would increase your trust in companies.
Nearly two-thirds expect CEOs to manage changes in society, not just their companies (62%), and about 80% of employees say it’s important for their CEOs to talk about it publicly Professional skills of the future (82%), the ethical use of technology (79%) and the Impact of automation at workplaces (78%).
“Concern about the impact that innovation can have and those who promote it has led to greater distrust. “Institutions must work together to address these concerns and ensure a path for continued innovation and progress,” he said. Kirsty GrahamGlobal President of Edelman’s Practices and Sectors.
Other key takeaways from the 2024 Edelman Trust Barometer
- The United Kingdom (39) is one of the countries with the lowest levels of trust according to the Trust Index. The other G7 countries are also not at the trust level: Canada (53); Italy (50); France (47); United States (46); Germany (45); Japan (39).
- Fear of information war (61%) has increased by six points compared to the previous yearThis is the most significant increase among social anxiety.
- There is distrust of the government in 17 of the 28 countries surveyed (51%)., including the United States (40%), Germany (42%) and the United Kingdom (30%, down 7 points). The media (50%) remains the least trusted institution globally, distrusted in 15 out of 28 countries, including the United States (39%), Japan (33%) and the United Kingdom (31%, down 6 points).
- Trust remains local. “My Company” (79% trust among employees) is once again the most trustworthy institution in all countries surveyed, except South Korea (49%). “My CEO” (69% of employees trust) is also more trusted than CEOs in general (51%).
- Heads of government (42%) are the least trusted, while journalists (49%) and CEOs (51%) are only slightly more trusted than the latter.. Scientists are most trusted (77%), teachers (74%), “my CEO” (69% among employees), citizens of “my country” (63%) and “my neighbors” (62%).
- The report reveals huge differences between trust in companies in the industries analyzed and their own innovations. including a 26-point difference between trust in technology companies (76%) and trust in artificial intelligence (50%); a 23-point difference between trust in healthcare companies (73%) and trust in genetic medicine (50%); and trust in food and beverage companies (72%) and trust in genetically modified foods (32%).
- Over the last ten years, trust in companies based in major exporting nations has declined significantly., including China (from 2014 to 2024, 3 points less, up to 30%); USA (9 points less, up to 53%) and Germany (9 points less, up to 62%). Despite a decline of nine percentage points over the last decade, Germany (62% trust) remains the second largest foreign brand after Canada (64%). The Chinese brand (30%) remains one of the least reliable, along with India (32%).