Concerns over misuse of technology have grown with half of the world’s population about to vote or having already cast ballots this year, an annual Axa risk report has found.

The Future Risks Report’s survey respondents think threats related to artificial intelligence and big data are emerging most quickly, followed by disruptive technologies.

“Technological risks are the new pandemic,” the report says.

The use of AI to spread false information is dramatically expanding the potential consequences, according to Axa.

“Generative AI enables bots to publish content that looks original and is hard to distinguish from content posted by real people. AI also facilitates the dissemination of disinformation to a targeted audience at scale. Misinformation could influence votes and lead to election results being challenged.”

Most survey respondents expect misinformation on social networks to influence upcoming elections. 

“In a year with many important elections, effective strategies to tackle misinformation and disinformation have never been more urgent,” the report says. “Collaboration is needed to tackle misinformation and disinformation.”

AI and big data place fourth in the top 10 risks, as ranked by respondents worldwide.

Climate occupies the top spot for the fourth year running, followed by geopolitical instability and cyber; social tensions rank fifth.

Rounding up the top 10 are natural resources risks, energy, new security threats, pandemics/infectious diseases, and financial stability.

In the Asia-Pacific and Middle East region, climate and cyber rank first and second respectively.

Axa says last year’s report suggested the world had entered a new era of “polycrisis”, and this year it seems the situation persists. 

“Indeed, the effects of the polycrisis are becoming increasingly noticeable,” Axa Group deputy CEO Frederic de Courtois says in the report. “They affect everything from financial markets to regulatory aspects and our ability to operate. They are aggravated by the emergence of new technological risks, such as those pertaining to cybersecurity and artificial intelligence.

“It is crucial for insurers to maintain the agility to navigate increasingly dynamic environments and ensure the protection of their operations and their clients.”

Click here to access the report.