Go slow on innovation
A majority on consumers have become unnerved by the speed of technological change, with half believing innovation is happening too quickly and that it is being driven by greed, and two-thirds thinking business growth imperatives are behind the drive to innovate, according to the 2015 Edelman Trust Barometer. Consumers want to see stronger business regulations (46% of respondents), but they only half-trust policy makers to develop and implement appropriate measures.
Most trusting of innovation? The United Arab Emirates, India and Indonesia. But several European nations, including Germany, France and Spain, plus Japan and Korea, are far less accepting of tech developments. Trust is higher in developments in the technology, financial services and health industries, including electronic and mobile payments and personal health trackers. However, innovations introduced in the energy and food sectors, such as fracking (47%) and genetically modified foods (32%), are viewed with far greater scepticism.
"Innovation should be a trust accelerator, but today it is not,” Edelman says. “There must be a new compact between company and individual, where companies demonstrate that innovations are safe based on independent research, provide both societal and personal benefit, and are committed to the protection of customer data."