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Misuse of social media could wreak havoc, warns World Economic Forum
This article is part of the CWEurope issue of March 2013
The rapid spread of false information through social media could "wreak havoc" for businesses, global markets and society, the World Economic Forum has warned. Misinformation has the potential to spark panic selling of shares, or panic evacuations, the WEF claimed in an analysis of the most serious risks facing the global economy published in the run-up to its meeting in Davos this month. The rapid spread of false information, or "digital wildfires", is one of a series of newly emerging risks identified by the WEF in its Global Risks 2013 report, which surveyed 1,000 experts and business leaders. “An analogy here is shouting 'Fire' in a crowded movie theatre. You might be able to correct that within a couple of minutes by saying 'There isn’t a fire', but in that couple of minutes, maybe a couple of people got trampled,” said John Drzik, chief executive officer of Oliver Wyman Group, and one of the report’s editors. Social media increasing risk of false information The report warned the risks of false information were increasing ...
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