The 2024 Edelman Trust Barometer, released on March 12, 2024, reveals that trust in the Singaporean Government has experienced a slight increase, positioning it as the most trusted institution in the country. According to the survey conducted by global communications firm Edelman, trust in the Government has risen by 1 percentage point from 2023, with a current trust rating of 77 percent. This surpasses the trust levels in non-governmental organizations (NGOs) at 66 percent, businesses at 63 percent, and the media at 60 percent.
Despite this increase, the survey also highlights that 93 percent of employed Singaporean respondents expressed concern about potential job loss, showing a 3 percentage point increase from the previous year. Additionally, there is a noticeable rise in the general population’s worries about hackers, which increased to 80 percent, as well as concerns about climate change, which increased to 75 percent.
The 2024 Edelman Trust Barometer places a spotlight on society’s trust in innovation during a time of rapid transformation. The survey indicates that 28 percent of respondents in Singapore feel that innovation is poorly managed, a sentiment that was shared across different income levels, genders, and age groups.
Globally, 73 percent of respondents believe that technology is evolving too rapidly. The survey suggests that the government has the best opportunity to reverse this trend, as it is regarded as the most trusted institution (76 percent) to introduce innovations into society. This can be achieved by ensuring that innovations are safe, understood by the public, beneficial, and accessible. The business sector and NGOs trail behind the government in this regard, at 62 percent each, followed by the media at 56 percent.
In response to concerns about innovation, respondents in Singapore expect the government, business, NGOs, and media to protect core values and be transparent about the benefits and risks of new technologies.
The Edelman survey also indicates that the business sector engaging in partnerships with the government to develop and implement technology-led innovations would increase trust in businesses. Additionally, 63 percent of respondents expect chief executive officers to manage the changes in society, not just those occurring within their businesses. It is important for CEOs to speak publicly about the ethical use of technology, automation’s impact on jobs, and the job skills of the future.
The survey underlines the importance of leaders effectively communicating the impact of innovation in clear and succinct ways. Julia Wei, CEO of Edelman Singapore, highlighted the significance of private and public sectors working together to achieve the greatest impact and emphasized that people are more likely to embrace innovation if they have control over its impact.
On a regional level, the 2024 Edelman Trust Barometer for Asia-Pacific (Apac) indicates that people in the region are more trusting of key institutions and technology compared to the rest of the world. The report suggests that this trust, coupled with confidence in governments to lead partnerships with science and businesses, could result in a regional technological advantage if innovation is well managed.
While the survey reveals a higher level of trust in institutions across the Asia-Pacific region, it also indicates concerns that societal leaders, including journalists, business leaders, and government leaders, are deliberately misleading the public with false or exaggerated information.
Finally, despite global trends showing a decline in trust in government and media, the data show that trust in traditional media for general news and information in Singapore has increased by 3 percentage points to 67 percent.
In conclusion, the 2024 Edelman Trust Barometer serves as a valuable tool to gauge public perception and trust in institutions. It provides critical insights into the current state of trust, particularly in the context of rapid technological advancements and societal transformation. As the world navigates through these changes, the report underscores the importance of transparent communication and collaborative efforts between the public and private sectors to effectively manage innovation and build trust among the people.
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