WEF: ‘AI Threat To Global Economy Bigger Than Climate Change’

By Stefan J. Bos, Chief International Correspondent Worthy News

DAVOS, SWITZERLAND (Worthy News) – The World Economic Forum (WEF) warned Wednesday that “false and misleading information” supercharged by artificial intelligence (AI) is a bigger risk to the global economy now than the reported “climate change.”

WEF, which in the past shared expressed views about “global warming “ or recently more often used term “climate change,” said in its latest Global Risks Report that “misinformation and disinformation” form the most severe risks over the next two years.

An array of “environmental risks” often pose the most significant threats in the longer term, the WEF added.

The report was released before the annual elite gathering of CEOs and world leaders in the Swiss ski resort town of Davos, where many arrive with private jets despite their expressed concerns about emissions.

The report, based on a survey of nearly 1,500 experts, industry leaders, and policymakers, underscored rapid technological advances and how they are creating new problems or making existing ones worse.

The authors worry that the boom in generative AI chatbots like ChatGPT means that creating sophisticated synthetic content can be used to manipulate groups of people.

Asked about the report by Worthy News, ChatGPT said: “The WEF’s warning highlights the significant impact of AI-driven misinformation on the global economy.” ChatGPT added, “Addressing the risks associated with the misuse of AI in spreading false information is crucial to maintaining trust and stability in various sectors. It underscores the importance of responsible AI development and deployment.”

AI NOT OPINIONATED

However, the gender-neutral AI couldn’t formulate an opinion about the European Union’s plans to regulate its activities.

“I don’t have personal opinions, but I can provide information,” he, she or it said.

“Many see AI regulation as necessary for ensuring ethical use, privacy protection, and preventing potential risks associated with AI technologies. However, striking the right balance between innovation and regulation is crucial.”

AI is set to be a hot topic at next week’s Davos meetings for the rich and famous, which are expected to be attended by tech company bosses, including OpenAI CEO Sam Altman, Microsoft CEO Satya Nadella, and AI industry players like Meta’s chief AI scientist, Yann LeCun.

AI-powered misinformation and disinformation are emerging as a risk just as billions of people in several countries, including large economies like the United States, Britain, Indonesia, India, Mexico, and Pakistan, are set to head to the polls this year and next, the report said.

“You can leverage AI to do deepfakes and to impact large groups, which really drives misinformation,” said Carolina Klint, a risk management leader at Marsh, whose parent company, Marsh McLennan, co-authored the report with Zurich Insurance Group.

“Societies could become further polarized” as people find it harder to verify facts, she said. Fake information also could be used to fuel questions about the legitimacy of elected governments, “which means that democratic processes could be eroded, and it would also drive societal polarization even further,” Klint added.

MALICIOUS ACTORS

The rise of AI brings a host of other risks, she said. It can empower “malicious actors” by making it easier to carry out cyberattacks, such as by automating phishing attempts or creating advanced malware, experts explain.

The discussion about AI also comes while
the world’s first supercomputer, allegedly capable of “simulating networks at the scale of the human brain,” was presented by researchers at the International Centre for Neuromorphic Systems (ICNS) at Western Sydney University.

DeepSouth uses a “neuromorphic system which mimics biological processes, using hardware to efficiently emulate large networks of spiking neurons at 228 trillion synaptic operations per second – rivaling the estimated rate of operations in the human brain, they said.

And with AI rapidly expanding, the traditional “extreme weather” warnings by the WEF and its allies were put in “the long term” dangers category defined as 10 years.

Extreme weather was described as the number 1 threat, followed by four other environmental-related risks: critical change to Earth systems, biodiversity loss and ecosystem collapse, and natural resources.

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