According to data released by public relations firm Edelman, trust in artificial intelligence companies has seen a significant decline, both in the United States and globally.
What happened: Trust in artificial intelligence companies has fallen to 35% in the United States over the past five years, according to a new study released Tuesday. Similarly, global trust in AI companies also fell by eight points, from 61% to 53%.
When the data was analyzed by political parties, it was found that Democrats showed the highest trust in AI companies at 38%, up from 24%. Republicans and 25% for independents.
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Several factors contributed to the erosion of trust in the companies surveyed. These include concerns about invasion of privacy, the potential devaluation of human contributions by artificial intelligence, and unease about unregulated technological advances that outweigh ethical considerations.
“Only 19% of respondents fear the impact of AI on job security,” the study found.
“Six weeks ago in Davos, we launched the Edelman Confidence Barometer 2024, which found that, by a two-to-one margin, citizens in 28 markets believe innovation is poorly managed,” the company said, adding “Respondents were concerned that government regulation was lagging behind the rapid pace of inventions and that companies were failing to consider potential impacts on employment or privacy or lifestyle concerns.”
Because matter: The decline in trust in AI companies is part of a broader trend of declining trust in the tech sector as a whole.
According to Edelman, technology was the most trusted sector in 90% of the countries studied eight years ago, but now holds that position in only half of the countries.
Justin Westcott, Edelman Chair of Global Technology, sees this as a “wake-up call” for AI companies to prioritize ethical practices, transparency and the social benefits of AI. He also sees the current state of confidence in AI as a “collective industry effort” that requires relentless focus on these priorities, The Hill reported.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and has been reviewed and published by Benzinga Editors.