Trust in artificial intelligence companies has seen a significant decline, both in the U.S. and globally, according to the data released by public relations firm Edelman.
What Happened: The trust in AI companies has dropped to 35% in the U.S. over the past five years, according to a new study released on Tuesday. Similarly, the global trust in AI companies has also decreased by eight points, from 61% to 53%.
When the data was analyzed by political parties, it was found that Democrats exhibited the highest trust in AI companies at 38%, compared to 24% for Republicans and 25% for independents.
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Several factors have contributed to the erosion of trust in the companies surveyed. These include concerns about privacy invasion, the potential devaluation of human contributions by AI, and unease about unregulated technological advancements outpacing ethical considerations.
"Only 19 percent of respondents are afraid of AI's impact on job security," the study found.
"Six weeks ago in Davos, we launched The 2024 Edelman Trust Barometer, which found that by a two-to-one margin, citizens across 28 markets believed that innovation was being badly managed," the company said, adding, "Respondents were concerned that government regulation was lagging behind the rapid pace of invention and that business was failing to consider the potential impact on employment or concerns about privacy or lifestyle."
Why It Matters: The decline in trust in AI companies is part of a broader trend of diminishing trust in the technology sector as a whole.
According to Edelman, technology was the most trusted industry in 90% of the countries they studied eight years ago, but now it holds that position in only half of the countries.
Justin Westcott, Edelman's chair of global technology, sees this as a “wake-up call” for AI companies to prioritize ethical practices, transparency, and the societal benefits of AI. He also views the current state of trust in AI as a “collective industry effort” that requires a relentless focus on these priorities, reported The Hill.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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