Going into this week’s World Economic Forum annual meeting, one clear theme emerges across nearly all topics that are covered: lack of trust.
From non-profits, to governments, to the private sector, people’s trust in companies and institutions is diminishing across the board. This was also the topic of many panels and speeches that delegates participated in all week.
Speaking with Axel Threlfall for an Answers On video interview, it seems clear to me how companies like Thomson Reuters have a role in combatting growing mistrust around the world.
First, the public and private sectors need to come together in partnerships. Given that this is an issue that transcends borders and institutions, partnerships across sectors will be essential to restoring a greater sense of transparency. And given how widespread the problem is, an impactful solution will need to be coordinated.
Another powerful tool to combat mistrust is technology. At first, the proliferation of new technology and platforms across industries and sectors raised dire questions about personal data, privacy and even implications for the workforce that feed into this growing lack of trust. While many of these issues remain unresolved and desperately still need solutions, one thing is clear: with the right processes in place, technology can and should allow for better regulation and transparency.
In terms of the workforce, we are clearly turning a corner. We have pivoted from widespread fear about robots taking over our jobs to us starting to fully realize the benefits of how technology can enhance all of our work. Thomson Reuters and other players in the technology space have begun to unlock the benefits of AI, which I recently wrote more about in a piece for the World Economic Forum.
This growing lack of trust combined with an unprecedented pace of change means global leaders have truly reached an inflection point in facing this issue. And it’s clear that a solution will need to transcend sectors and platforms.