Perspective of the AI Impact on Fake News Detection and Its Economic Consequences up to 2030

Abstract

This study investigates the perspective of Artificial Intelligence (AI) impact on fake news detection and its economic consequences up to 2030. The advent of digital platforms and information democratization have made fake news an all-encompassing issue in contemporary society. This paper examines the contextual factors in spreading fake news, including social media algorithms, echo chambers, and information manipulation up to 2030. Moreover, this study discusses many implications of fake news, such as erosion of trust, political polarization, and economic implications. Due to the rapid growth of social media platforms and online news consumption, the spread of fake news has been considered an urgent worry. Identification of fake news and the fight against it has become vital to ensure the accuracy and reliability of information released via social media. Machine Learning (ML) plays a significant role in fake news detection due to its ability to analyze numerous data and identify patterns and trends that reveal misinformation. Fake news detection includes analysis of various types of data, such as textual or media content, social fabric, and network structure. ML techniques allow automatic and scalable detection of fake news, which is necessary due to the large volume of information shared through social media platforms. In general, ML is a powerful tool for the identification and prevention of fake news released via social media. Also, social media such as Facebook and Twitter have become a substantial technique to connect others and share their ideas. Instant information sharing is the most important characteristic of social networks. In this case, most users share fake news without knowing. Fake news affects the daily lives of people, and its consequences may be misleading from just concerning communities and or countries. The results of the study indicate that AI tools, such as ML and Depp Learning (DL) are widely used to develop some systems for fake news detection within different fields like the economy, and these two tools have confirmed their efficiency.

Keywords: Artificial Intelligence, Fake News Detection, Economic Consequences, Outlook 2020, Social Media