The oldest and strongest emotion of mankind is fear, and the oldest and strongest kind of fear is the fear of the unknown.
�H.P. Lovercraft
The Global Risk Perception Index 2024 validates H.P. Lovecraft's timeless insight that fear stems from the unknown. The latest Global Risk Perception (GRP) survey conducted by the World Economic Forum reveals that, alongside familiar concerns like geopolitical tensions, political polarization, climate change, and cyber attacks, respondents expressed significant anxiety about AI-generated fake news. Notably, this fear of being overwhelmed by fake information, bolstered by convincing yet fabricated documentation spread across various media platforms, ranks second only to climate change-related risks. This finding underscores the profound impact of emerging technologies on global perceptions of risk and uncertainty.
The countries most at risk due to the AI misinformation are the ones where democratic systems prevail. The growing ideological divide in democratic societies has created a fertile ground for the exploitation of fake news. Unscrupulous actors are harnessing this technology to further their political agendas and ideologies, while extremist organizations are eagerly embracing these tools to amplify their reach. There is a dawning recognition that fake information can ignite mass upheavals and civil unrest, posing a significant threat to social cohesion. Furthermore, democratic elections have become increasingly susceptible to manipulation by external vested interests, which can now leverage AI-generated fake news to influence outcomes from afar.
Although AI-generated misinformation has emerged as a new concern in the GRP survey, climate change remains the top risk, with its devastating impacts becoming increasingly apparent. As the effects of climate change intensify, so too does the fear of the unknown, growing more acute with each passing year. Despite the escalating urgency, governments continue to drag their feet, failing to implement effective short-term measures to mitigate climate change. As a result, the consequences of global warming are now more visible than ever, outpacing previous years in both severity and frequency.
Despite widespread recognition of the risks associated with global warming, a common misconception persists: that its catastrophic consequences are still decades away. However, recent events underscore the alarming reality that the effects of climate change are already unfolding with devastating consequences. A striking example is the unprecedented landslide that struck Greenland in September 2023, sending shockwaves through the scientific community. This dramatic incident serves as a stark reminder that the gradual warming of our planet has already reached a tipping point, precipitating catastrophic events that threaten our immediate future.
The catastrophic landslide took place in a generally uninhabited part of eastern Greenland called Dickson Fjord. The disaster was triggered by a chain reaction set off by global warming, which melted the glacier at the base of the 4,000-foot mountain, rendering it unstable. As the mountain gave way, a massive landslide ensued, dislodging an enormous amount of rock and debris into the fjord. This event unleashed one of the largest tsunamis in recent history, estimated to be around 200 meters high. The aftermath saw the fjord's water continue to "slosh" against its walls with such force that it generated seismic waves that reverberated around the world for nine days. Seismological instruments worldwide detected these waves as slow, rhythmic hums, emitting beeping signals every 90 seconds. The phenomenon was akin to a giant basin vibrating in rhythmic motion, as its waters sloshed against its walls with unrelenting force.�
The unpredictability of global warming's consequences, as exemplified by the Greenland landslide, is a stark reminder of the unknown dangers that lie ahead. It's no wonder, then, that climate change tops the list of fears expressed by respondents in the Global Risk Perception (GRP) survey.
Cyber attacks also emerged as a pressing concern for survey respondents, and for good reason. Our increasing reliance on digital systems for national and personal finance, public utilities, and communication networks - including those critical to national security - has created a vast vulnerability. These systems are potentially crippling targets for cyber attacks, which can devastate networks and disrupt entire societies. This Forbes Advisor reported that in 2023 alone a staggering 2,365 cyber attacks affected over 350,000 victims. Furthermore, data breaches have surged by 72% since 2021. Given the escalating threat scenario, it is natural for people to be extremely scared of cyber attacks that can compromise their personal and national security. To mitigate this threat increasingly research organisations around the world are designing platforms that provide cyber security AI solutions and also creating fake news detection algorithms.
In addition to climate change, AI-generated misinformation, and cyber attacks, survey respondents also cited societal polarization and the rising cost of living crisis as significant concerns. Societal polarization, particularly prevalent in democratic nations, has led to a worrying divide. The surge of right-wing and extreme-right movements has created a stark binary split, pitting liberal and conservative factions against each other. This deepening chasm threatens social cohesion, undermining the foundations of democratic societies.
The genesis of the strengthening of the conservative and the right forces can be traced to the collapse in 1990 of the Soviet Union, a champion of communist and left-wing movements globally, marking the beginning of a significant shift in the world's political landscape. The demise of the Marxist-Leninist movement created a power vacuum in the traditional left-versus-liberal binary. As the century turned, conservatives and extreme right forces gradually filled this void, exploiting divisions like anti-Europe movements, such as Brexit. This phenomenon sparked a cost-benefit analysis of globalization, previously seen as a liberal concept. Over time, right-wing and nationalist forces have largely occupied the political space once held by left-leaning ideologies. Interestingly, conservatives in democratic nations have begun labelling liberals as the "new left." This rebranding reflects the evolving dynamics of the political spectrum, where traditional alliances are being redefined.�
Unfortunately in most democracies these divisions are becoming sharper creating a great societal schism. This rupture in societies is threatening to bring down the well established political fabric of nations which many respondents in the GRP survey have pointed to being a potential risk in the near future.
Finally the elephant in the room was also pointed out by the respondents of the GRP survey. The economic fears expressed by people answering to the survey questions are a pressing concern, particularly the growing perception that inflation and rising living costs are exacerbating national inequalities. The ongoing conflicts in Ukraine, Russia, and the Middle East have led to skyrocketing prices of essential commodities like oil and food grains, further fuelling these fears. Unfortunately, there's no end in sight to these conflicts, with parties and their allies showing no signs of easing tensions or halting the supply of arms and ammunition.
