Shifts: AI, globalization and social media
From automation to globalization, systemic shifts can create new risks. Ipsos Strategy3’s Trevor Sudano looks at three of these macro-level causes and effects.
AI and automation: Advanced data analytics and AI can help uncover potential hazards that we may have blind spots to, enabling proactive risk management and scenario planning to strategize. However, the increasing dependence on technology amplifies other risks, such as cybersecurity, threatening privacy and data integrity.
The pace of technological change has shown that it can outstrip regulatory frameworks, creating legal and ethical uncertainties, especially in a world with divided governments and political inaction. Automation and AI could disrupt many facets of life, from politics to media to job markets, posing socioeconomic risks as we navigate the next normal.
Globalization: While globalization over the past several decades has fostered economic growth and cultural exchange, it also exposes economies to global market fluctuations and a wider set of potential risks and implications. As we all witnessed with COVID-19, an increasingly connected world can accelerate the spread of diseases, posing risks to public health and national security.
Environmental risks, like climate change, have amplified due to global industrialization, putting strain on myriad sectors, but, importantly, on our food supply. Our interconnected economies and financial systems also pose a risk with the vast amounts of cross-border data flow, which is vulnerable to hacking, manipulation and espionage.
Influencers and social media: Influencers, especially those with large followings, can sway public opinion, impacting consumer behavior, market trends, and even beliefs. Without oversight or safeguards, this power can be misused, spreading mis- and disinformation or promoting harmful behaviors, posing risks to society at large and often vulnerable populations.
Social media, while democratizing information access, can amplify several preexisting risks, such as cyberbullying, poor mental health and hate speech. The spread of “fake” news can also influence political outcomes, posing risks to governance and democracies if left unchecked.
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