Trust in tech companies is falling

Edelman published a report which shows that the tech industry has suffered the largest loss of trust out of any industry other than entertainment.

The report is based on 34,000 people surveyed across 28 countries, and it also found that technology is the only sector that has not shown gradual improvements in trust levels over the past eight years.

Trust in technology decreased by 4% across surveyed countries, with France, Canada, Italy, Russia, Singapore, and the US some of the countries that have suffered the largest decline in tech industry trust over the past year.

Despite this, technology still remains the most trusted sector of all those surveyed.

Distrust in authorities

According to the study, over 61% of respondents believe that technology is “out of control,” and that governments are regulating emerging technologies too late due to not having a sufficient understanding of how these technologies work.

Other contributing factors to the decline in tech industry trust include fake news, deepfake technologies, and the pace of change being perceived as too fast.

The report also showed 66% of respondents do not trust their current leaders to address their countries’ various challenges successfully.

The social leaders that are trusted the least include the extremely wealthy, government leaders, and religious leaders, while the most-trusted are scientists and fellow community members.

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Trust in tech companies is falling