(Bloomberg) — Public trust in the technology industry is in decline while more people link innovation to excess, according to a survey of 27 countries published as policy makers and executives gather at the World Economic Forum in Davos.

When polled about the incentive for innovation, 30 percent said it's intended to improve people's lives, while 54 percent of respondents answered greed, according to the 2015 Trust Barometer, published by Edelman. It's the first time in 15 years that the public-relations firm has recorded a decline in faith in technology, Chairman and Chief Executive Officer Richard Edelman said in a phone interview from New York.

"People are afraid of the pace of change," Edelman said. "Whether it's fracking or GM foods, or e-wallet, it's scary — because it's causing job dislocation, it's causing people to change their habits, and they don't necessarily feel that they understand it."