The World's Greatest Short-Term Threat: AI-Generated Misinformation and Deepfakes Identified by WEF

World Economic Forum Warns About Risks of AI and Cybercrime

The World Economic Forum (WEF) has raised concerns about the growing risks associated with generative artificial intelligence (AI) and cybercrime at its convention in Davos, Switzerland. In its Global Risks Report 2024, the WEF highlights cybercrime and the adverse outcomes of AI as top risks.

Deepfake Videos and Scams on Social Media Platforms

Misinformation and disinformation, facilitated by advances in generative AI, pose significant risks. Scammers can now easily produce deepfake videos, while social media platforms like Meta and X are inundated with scams and fakes. MicroStrategy executive chairman Michael Saylor recently warned about deepfake Bitcoin scams on YouTube.

Cyber Insecurity and Emerging Technologies

The WEF ranks “cyber insecurity” as the fourth top risk over the next two years. Although AI can help address cyber threats, there is a widening gap between organizations that can defend themselves and those that cannot. The report also identifies the adverse outcomes of AI technologies as the sixth highest risk over a ten-year timeframe.

AI Crypto Scams on the Rise

Cybercriminals are leveraging new technologies like generative AI to target victims. Scammers have been using AI to mimic crypto executives and offer fake giveaways through videos. QR codes are used to trick victims into sending crypto with promises of increasing or doubling the amount. Big tech and social media platforms are criticized for not acting quickly enough to remove scams.

Hot Take: Addressing the Risks of AI and Cybercrime

As generative AI becomes more advanced, it poses greater risks in terms of misinformation, deepfake videos, and scams. The World Economic Forum’s report highlights the urgent need to address these risks and bridge the gap between organizations’ cybersecurity capabilities. It is crucial for individuals, businesses, and social media platforms to remain vigilant and take proactive measures to protect against cybercrime and the adverse outcomes of AI technologies.