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People once again consider business more ethical than governments, NGOs, and the press. Getty Images
good morning.
This morning I’m in Davos, Switzerland. The World Economic Forum is held there. The 2,800 attendees (with thousands more in attendance) included CEOs of the world’s largest companies, as well as Ukrainian President Volodymyr Zelenskiy, Chinese Premier Li Qiang, French President Emmanuel Macron, and Secretary of State Antony Blinken. This includes government leaders. His four big topics define the agenda: from the US to the economy, climate change, the AI revolution, and geopolitics. But given the escalating tensions in the Red Sea and the escalating war of words over Taiwan, it is the last issue that will likely prevail.
“Rebuilding Trust” is this week’s official theme. In keeping with that theme, PR guru Richard Edelman this morning releases the annual Edelman Trust Barometer, based on an online survey of 32,000 people around the world. CEO Daley found that his early research once again shows that businesses are trusted more than governments, NGOs and the media. Survey respondents in all countries except Saudi Arabia and Singapore said companies are more competent and ethical than governments and media. This is probably not popular with Republican politicians, but it is evidence that business has become more focused on people and the planet over the past decade, and it is having a positive impact on public opinion. I insist. His confidence in business across the 21 countries surveyed has increased from 48% in 2012 to 61% today.
Edelman’s data also shows that there is a general lack of trust in most developed countries compared to developing countries. China, India, United Arab Emirates, Indonesia, Saudi Arabia and Thailand are at the top of his trust list, giving him an overall score of over 70%. At the bottom of the list are the UK, Japan, Argentina, South Korea, Germany and the US, with scores below 46%. This gap poses a challenge for those who believe that trust is necessary to address difficult policy questions posed by things like AI and climate change.
Separately, yesterday afternoon I had the opportunity to walk along the Davos Promenade. Davos Promenade is lined with boutiques in normal times, but every year this week it undergoes a major renovation to house dedicated event spaces showcasing the who’s who of business services companies such as IBM, PwC, and Salesforce. , SAP, Cisco, Qualcomm, Accenture, Deloitte, C3.ai, Cognizant, Wipro, Workday and more. This year, the largest storefront is dedicated to Neom. Neom is a showcase city being built from the ground up in Saudi Arabia, promising “unprecedented scale opportunities for sustainable living, innovation and human progress.” As always, the streets of Davos show where the money is.
I’ll be reporting from Davos for the rest of this week. There’s always more talk than action here, but it’s a unique opportunity to see what’s going on with the world’s business elite. luck will host a working dinner with 80 CEOs on Thursday to discuss the opportunities and challenges of the year ahead. Amazon CEO Andy Jassy started the conversation and will report back on Friday.
Other news is below.
alan murray
@alansmurray
alan.murray@fortune.com
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THis edition of CEO Daily is curated by Nicholas Gordon.
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