In its latest Global Risks Report, the World Economic Forum (WEF) has identified false and misleading information fueled by advanced artificial intelligence (AI) as the top immediate risk to the global economy. The report, released ahead of the annual gathering of CEOs and world leaders in Davos, Switzerland, highlights the growing threat of misinformation and disinformation, which could erode democracy and polarize society.

Based on a survey of nearly 1,500 experts, industry leaders, and policymakers, the report warns that the rapid advancements in technology are exacerbating existing problems and creating new ones. The authors express concern that the proliferation of generative AI chatbots, such as ChatGPT, makes it easier for individuals without specialized skills to create sophisticated synthetic content that can manipulate groups of people.

The issue of AI-powered misinformation and disinformation is particularly significant as several countries, including the United States, Britain, Indonesia, India, Mexico, and Pakistan, are set to hold elections in the coming years. The report suggests that AI can be leveraged to produce deepfakes and manipulate large groups of people, making it increasingly challenging for individuals to verify facts. This could lead to further polarization within societies and raise doubts about the legitimacy of elected governments, ultimately eroding democratic processes.

Carolina Klint, a risk management leader at Marsh, one of the co-authors of the report, emphasizes the potential risks associated with the rise of AI. She explains that AI can empower malicious actors by automating cyberattacks, such as phishing attempts and the creation of advanced malware. Additionally, AI can contaminate data scraped from the internet to train other AI systems, embedding biases into AI models that are difficult to reverse.

Apart from AI-driven misinformation, the report also highlights climate change as a major global concern. Extreme weather events are identified as the second-most-pressing short-term risk, while in the long term (defined as 10 years), extreme weather is considered the number one threat. Other environmental-related risks include critical changes to Earth systems, biodiversity loss, ecosystem collapse, and natural resource shortages.

Klint warns that the Earth's systems may reach an irreversible tipping point within the next decade due to long-term changes caused by climate change. These findings emphasize the urgent need for collective action to address the environmental risks that threaten the planet.

As the world's leaders and tech company CEOs gather in Davos, AI is expected to be a prominent topic of discussion. Figures such as OpenAI CEO Sam Altman, Microsoft CEO Satya Nadella, and Meta's chief AI scientist, Yann LeCun, will be among those attending the meetings. The WEF report highlights the importance of addressing the risks associated with AI and finding ways to mitigate its negative impacts on society, democracy, and the global economy.