Time to Rebuild Trust in American Technology
August 9, 2023
An erosion of trust has plagued American institutions. According to a recent Gallup poll, Congress has the lowest trust rating among U.S. institutions at 11%, down from a high of over 75% in the 1960s. Only 36% of Americans trust media, a 20% decline in the past two decades.
Add technology to the list of industries and institutions under fire.
Trust in technology fell more in the past decade in the U.S. than in any of the fifteen countries surveyed by Edelman. U.S. technology has a 65% trust rating, down from 78% in 2012. Only the UK and France rank lower than the U.S.
Why it matters: Lower trust breeds skepticism of new technologies, slows adoption, reduces spending, and increases government scrutiny and regulation. Low trust levels risk domestic polarization and reduced competitiveness globally.
China and India each have a 92% trust rating. These developing countries see technology as a solution to social issues and a path to catch up with the West.
Skepticism in America is particularly low for emerging technologies such as autonomous driving, artificial intelligence and cryptocurrency, which have a combined 35% trust rating. The risk is that new technology adoption and development will accelerate in high trust countries enabling China and India to seize global technology leadership.
The opportunity: Technology is the most trusted industry in eleven of the fifteen countries surveyed. In these countries, technology is seen as a guardian of national security and the public square. Among developing countries, technology promises economic growth, access to healthcare and higher paying jobs, better information, and reduced food scarcity. In short, technology is a solution to many of society’s problems.
The bottom line: U.S. tech must serve all stakeholders, not just all shareholders. The politicization of technology serves neither national, corporate nor consumer interests. It is not enough to “do no evil”, though that would be a good start. Tech leaders must do the right thing to build trust and serve both consumer and national interests.
I am encouraged by U.S. government efforts to redomicile critical industries, including semiconductor technology, and promote responsible use of artificial intelligence. For the many corporate beneficiaries of U.S. government largesse, with great opportunity comes commensurate responsibility.
