Almost four-fifths of chief executives are concerned about the potential misuse of AI in this year’s major political elections, new research by business consultancy EY shows.
With more than half of the world’s population set to vote in 2024, including in the US presidential election, the company’s latest quarterly survey of 1,200 global CEOs also predicts the further rise of populist parties. It has become clear that there is growing concern about this.
Some 78% of those surveyed said they were concerned that a populist-led election result “could increase geopolitical uncertainty and cause business problems,” and 76% said they feared the misuse of AI. He said he was concerned about the possibility.
Last year, a deepfake audio recording of one of the leading candidates in Slovakia’s elections went viral, boasting about rigging upcoming polls.
The pro-Western candidate ultimately lost to an opponent who favored closer ties with Russian President Vladimir Putin.
The World Economic Forum’s latest Global Risks Report, released ahead of last month’s Davos conference, warns that AI-driven misinformation is eroding democracy and threatening civil unrest around the world, and that it is He emphasized that this is the most serious short-term risk to human progress.
The EY survey found that while many CEOs are confident in their organizations’ ability to incorporate geopolitical turmoil into decision-making, almost half of respondents do not have a definition for managing geopolitical risk. “We believe there is room for improvement in the active processes that have been implemented.”
An overwhelming 98 percent of CEOs and private equity leaders surveyed have been forced to change investment plans, including exiting certain businesses, compared to 32 percent of CEO respondents. , 38 percent of private equity leaders have been forced to postpone or postpone planned investments.
“The influence of politics on the business world remains strong, but another risk has emerged this year: the rise of AI in political campaigns and its potential misuse.” Graham Reid, head of tax and legal affairs at EY Ireland, said:
Overall, the EY survey showed that business leaders remain bullish on business performance despite the challenging global environment. Nearly two-thirds expect revenue growth and improved profitability.
“While CEOs are expecting slower global economic growth, this has not weakened their confidence,” Reid said.
“Reflecting trends we are seeing here in Ireland, CEOs around the world are seeking opportunities to increase efficiency, transform their businesses for growth and harness the potential of artificial intelligence,” he said.
He said: “The Irish economy has not been immune to global macroeconomic trends in recent years, but businesses here, whether indigenous or multinational, have coped very well with this uncertain trading environment. “We are now looking ahead with increased confidence in the future.”