June 27, 2024, KUALA LUMPUR – Edelman Malaysia’s 2024 Trust Barometer reveals Malaysia’s significant rise in global trust rankings, despite economic challenges.
Conducted from November 3rd to 22nd, 2023, the survey included over 32,000 respondents from 28 countries, with more than 1,000 from Malaysia.
Malaysia’s Trust Index Score increased by 6 points to 68, placing it among the top 10 most trusting nations. The report highlights a 13-point increase in trust in the government, reflecting confidence in Prime Minister Dato Seri Anwar Ibrahim’s leadership and the stability of the new unity government.
“Malaysia’s rise in trust underscores a positive shift in public perception towards our governance and institutional frameworks,” commented Chris de Cruz, COO of Edelman Malaysia. “This increase signals a growing optimism in our ability to navigate economic challenges and foster inclusive growth.”
Malaysians ‘ top concerns are slow economic growth, societal divisions, and misinformation. Additionally, 97% of employed Malaysians worry about job loss, with climate change (85% of the general population) and the increase of information warfare (73%) adding to their anxieties.
The integration of artificial intelligence (AI) into society globally has reshaped perceptions and set the stage for a new era of innovation. The 2024 Barometer highlights that 63% of Malaysians feel government regulators lack the understanding to govern emerging technologies effectively. 33% believe innovation needs to be better managed, while 59% reject genetically modified foods.
“As AI continues to transform industries and daily lives, there is a critical need for businesses and governments to collaborate effectively,” noted de Cruz. “This partnership is essential to harnessing the benefits of new technologies while addressing ethical considerations and ensuring accessibility across all segments of society.”
Malaysians call for more vital collaboration between businesses and the government to address pressing societal issues. Public support for businesses partnering with the government in innovation has surged 19 percent since 2015.
“Restoring trust hinges on transparent engagement between businesses, government, and the public,” added de Cruz. “Open dialogue and aligning innovation with societal values are paramount for responsible adoption of technological advancement.”
Businesses are seen as pivotal in driving societal change as trusted institutions. Malaysians expect CEOs to stand on critical issues, including fair wages, climate change, and economic inequality. Businesses that align with public values and actively address societal concerns are more likely to gain public support.
“Business is the most trusted institution in the Edelman Trust Barometer, seen as an innovation machine. However, businesses must prioritise implementing and accepting change as much as it does R&D. This requires more transparency in research, ensuring understanding among ordinary people, not just elites. Businesses cannot achieve this alone; good regulation by authorities is essential for accepting innovation.
“Scientists and experts should lead discussions but must include input from all societal levels. Everyone must feel empowered and in control of their future. Innovation should be a collaborative effort where concerns are heard, questions are answered, and everyone has a stake. We need to redefine what it means to provide access.” said de Cruz.
The 2024 Edelman Malaysia Trust Barometer was launched yesterday in Kuala Lumpur through a panel discussion featuring prominent leaders and experts, including IDEAS’ Chief Executive Officer Dr Tricia Yeoh, Microsoft’s Director of Legal, Corporate & Government Affairs for ASEAN and New Markets Dr Jasmine Begum and MBSB Chief People Officer Farid Basir.
The 2024 Edelman Trust Barometer underscores Malaysia’s complex trust balance and need for robust governance frameworks. As technological disruption accelerates, fostering trust through inclusive policies and cross-sector cooperation will prove vital for national advancement.
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