Richard Edelman discusses the crisis of trust in innovation, emphasizing the need for transparent communication from tech leaders. Collaboration between businesses, government, and media is crucial to manage innovation effectively. Trust in AI is declining, highlighting the importance of building trust through transparency and diverse perspectives.
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Quick takeaways
Businesses must prioritize transparent communication to build trust with stakeholders.
Collaboration between various entities is crucial for managing innovation effectively and benefiting society as a whole.
Deep dives
Trust in Innovation and Technological Change
The podcast highlights the growing crisis of trust in innovation, especially regarding advancements like AI. There is a dichotomy where businesses are trusted, yet there is a disconnect in trust towards innovations like green technologies and AI. The Edelman Trust Barometer report discusses the risk of technological change fueling increased populism and polarization in societies. Business and technology leaders need to address this trust issue to oversee advances such as AI effectively.
Importance of Trust in Business and Technology
Trust plays a central role in a well-functioning economy and society, encompassing ability, dependability, integrity, and purpose. Following the 2008 recession, trust in businesses has increased notably due to factors like competency and ethics. The trust barometer report emphasizes that businesses need to communicate regularly to build trust effectively with various stakeholders, including employees, consumers, and the general population.
Business Strategy for AI and Innovation
Amidst the high trust in tech but low trust in tech innovations like AI, the gap reveals the necessity for thorough implementation and acceptance of technological advancements. The podcast stresses the importance of businesses ensuring transparent experimentation processes regarding AI and other innovations to gain public trust. Innovation, when executed well, presents significant opportunities for growth and societal improvement, urging business and technology leaders to focus on pacing and inclusive strategies for successful outcomes.
A new report points to a crisis of trust in innovation, and the risk that rapid technological change — especially in the field of artificial intelligence — will fuel increased populism and polarization across societies.
Richard Edelman, CEO of Edelman, discussed these and other findings from the 2024 Edelman Trust Barometer during visits last week with the global communications firm's clients in tech-heavy Seattle and San Francisco. GeekWire sat down with Edelman during his visit to the firm's downtown Seattle office for this episode of the GeekWire Podcast.
He discusses the shift in trust from top-down authority figures to local relationships, with employees and consumers expecting companies to take a stand on important issues.
Edelman suggests that businesses and technology leaders need to focus on implementation, adaptation, and acceptance of innovation, and to be transparent and clear in their communication with the public.
He calls for collaboration between businesses, government, NGOs, and media to ensure that innovation is well-managed and benefits society as a whole.