In today’s world, we are confronted with a multitude of ongoing crises, including war, climate change, inflation, and the persistent challenges posed by a lingering pandemic. Record global temperatures are leading to increasingly harmful impacts; a cost-of-living crisis is making everyday life harder for people around the world, and escalating tensions in the Middle East have the potential to widen into a broader regional conflict.

Extreme weather poses the biggest risk in the next decade, as global economies are widely unprepared for the consequences of acute weather, from shocks to food systems to large-scale infrastructure damage. In fact, some research shows that potentially irreversible changes to the planet could be reached by the 2030s if temperatures continue to rise.

However, the latest report from the World Economic Forum sheds light on another pressing issue: the proliferation of misinformation and disinformation fueled by the rapid advancement of artificial intelligence.

The Global Risks Report, which serves as a leading resource for global risk assessment, draws insights from 1,500 experts representing academia, business, government, international organisations, and civil society. These experts provide invaluable perspectives on the potentially catastrophic risks looming on the horizon.

According to the report, “global risk” is defined as “the possibility of the occurrence of an event or condition which, if it occurs, would negatively impact a significant proportion of global GDP, population or natural resources.”

The Menace of Misinformation and Disinformation

For the first time in its 19-year history, the survey conducted by the World Economic Forum identified misinformation and disinformation as the top-ranked concern among experts, highlighting the perceived severity of this threat over the next two years (and 5th most impactful risk over ten years).  More than half (53%) of experts believe that AI-generated misinformation and disinformation are “likely to present a material crisis on a global scale in 2024,” second only to extreme weather (66%).

Foreign and domestic actors alike will leverage misinformation and disinformation, further widening societal and political divides. This could pose a particular threat as billions of people head to the polls in the biggest election year in history.

Impact on 2024 Global Elections

With 3 billion people heading to electoral polls in 2024, including major economies from the United States to India and Mexico, the widespread use of misinformation and disinformation, and tools to disseminate it, may undermine the real and perceived legitimacy of newly elected governments. 

Recent technological advances, such as generative AI, have enhanced the volume, reach and efficacy of falsified information. The longer-term erosion of democratic processes is compounded by unrest ranging from violent protests and hate crimes to civil confrontation and terrorism.

“The widespread use of misinformation and disinformation, and tools to disseminate it, may undermine the legitimacy of newly elected governments,” the report warned. 

For the communications industry, this presents a multifaceted challenge that can be addressed with:

1. Combating the Spread by developing proactive strategies to identify and debunk false information. Collaborate with fact-checkers, journalists, and technology companies to create a more robust ecosystem of truth.
2. Empowering Audiences by fostering media literacy through educational initiatives. Equip audiences with critical thinking skills and source evaluation techniques to resist manipulation.
3. Building Trust and Transparency by operating with utmost integrity. Ensure transparency in messaging and foster open dialogue with stakeholders.

Navigating the Path Forward

The Global Risks Report 2024 presents a daunting picture, but within it lies an opportunity for the communications industry to become a force for good. By actively confronting misinformation, promoting dialogue across divides, and advocating for responsible technology use, we can help create a more informed, connected, and resilient world.

This necessitates collaboration and collective action. We must work with governments, civil society, and other stakeholders to develop a global communication strategy that addresses these interconnected challenges. Let us leverage the power of communication to navigate the storm and build a more sustainable and equitable future for all.

Curzon PR is a London-based PR firm working with clients globally. If you have any questions, please feel free to contact our Business Development Team [email protected]