In Tech We Mistrust
March 11, 2024
While tech firms were dumping billions into AI, they may have overlooked one key component: consumer faith. The Hill reports, “Trust in AI Companies Drops to 35 Percent in New Study.” We note that 35% figure is for the US only, while the global drop was a mere 8%. Still, that is the wrong direction for anyone with a stake in the market. So what is happening? Writer Filip Timotija tells us:
So it is not just AI we mistrust, it is tech companies as a whole. That tracks. The study polled 32,000 people across 28 countries. Timotija reminds us regulators in the US and abroad are scrambling to catch up. Will fear of consumer rejection do what neither lagging lawmakers nor common decency can? The write-up notes:
“Westcott argued the findings should be a ‘wake up call’ for AI companies to ‘build back credibility through ethical innovation, genuine community engagement and partnerships that place people and their concerns at the heart of AI developments.’ As for the impacts on the future for the industry as a whole, ‘societal acceptance of the technology is now at a crossroads,’ he said, adding that trust in AI and the companies producing it should be seen ‘not just as a challenge, but an opportunity.’” “Multiple factors contributed to the decline in trust toward the companies polled in the data, according to Justin Westcott, Edelman’s chair of global technology. ‘Key among these are fears related to privacy invasion, the potential for AI to devalue human contributions, and apprehensions about unregulated technological leaps outpacing ethical considerations,’ Westcott said, adding ‘the data points to a perceived lack of transparency and accountability in how AI companies operate and engage with societal impacts.’ Technology as a whole is losing its lead in trust among sectors, Edelman said, highlighting the key findings from the study. ‘Eight years ago, technology was the leading industry in trust in 90 percent of the countries we study,’ researchers wrote, referring to the 28 countries. ‘Now it is most trusted only in half.’”
Yes, an opportunity. All AI companies must do is emphasize ethics, transparency, and societal benefits over profits. Surely big tech firms will get right on that.
Cynthia Murrell, March 11, 2024
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