An AI-generated image of a fake explosion near the Pentagon in Washington DC sparked global concern after the stock market briefly nosedived.
When it comes to maintaining the stability of democracy and markets, the growing threat of AI has been a topic of discussion.
AI-generated image falsifies financial markets
He image of the Pentagon explosion quickly gained ground on social media. The stock market reportedly declined temporarily as a result of the image. The public was relieved when the Arlington Police Department announced on Twitter that the image was a hoax.
This episode highlights the critical need for preventative measures to mitigate the negative consequences of artificial intelligence. AI-generated fakes could damage public trust and interfere with elections and democratic processes.
The S&P 500 experienced a brief 0.3% drop as false claims spread on social media. The Kobeissi Letter estimates that the fall of 30 points caused a swing of 500,000 million dollars. However, markets rallied quickly as Wall Street awaited a crucial meeting on the debt ceiling. The S&P 500 held stable at the close of Monday. Meanwhile, the crypto market capitalization saw a marginal recovery of 1.4%, according to CoinGecko data.
It has reportedly not yet been discovered where the image came from or what AI technologies they were used to do it.
Technology poses challenges, but is there a solution?
He affairs Submitted by false information are hampered by the wide dissemination of this false photograph by multiple verified accounts, including a Russian state-owned media outlet with a significant following.
AI-generated forgeries may further blur the lines between fact and fiction, undermining public confidence. Samuel Altman, CEO of OpenAI and developer of ChatGPT, expressed concern about the potential harm from AI. He mentioned the new technological challenges of AI during a recent hearing in the US Senate.
Concerns about the impact of deepfakes on democracy have exploded as the 2024 US presidential election approaches. Experts have already warned that these sophisticated technologies can easily distort public opinion, erode trust in institutions and sabotaging electoral processes, such as BeInCrypto mentioned.
Also, as traditional finance is affected, cutting-edge approaches like blockchain technology show potential to ensure the veracity of photos and videos.
The community points out that Bitcoin could serve as protection in the cyber world. This is especially true when it can be difficult to differentiate AI-generated data from real data.
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