The Digital Economy’s Hidden Crisis: How Cyberattacks, AI Risks, and Tech Monopolies Threaten Global Stability

People’s dependence on digital systems is deeper than ever, leaving individuals and businesses more exposed to cyber risks and data breaches. From the infamous 2017 Equifax incident to the recent cyberattack on Marks & Spencer, online operations remain highly vulnerable. Experts warn that meaningful action may only come after a large-scale digital crisis.

Research indicates that current strategies for managing risk and fostering innovation are flawed. Digital technologies—ranging from social platforms to artificial intelligence—are reshaping society. While these tools are powerful, they also carry risks of malfunction, manipulation, and exploitation. Yet governments struggle to differentiate between innovations that genuinely benefit society and those that create long-term harm.

The digital economy—defined as “businesses that increasingly rely on information technology, data and the internet”—is effectively running a global social experiment. Tech giants often capture most of the benefits while shifting risks onto society. The potential fallout could include cyberattacks crippling essential services like power grids or communications, or even tampering with infrastructure to create dangerous conditions.

Parallels can be drawn with the 2008 financial crisis. American sociologist Charles Perrow described “tight coupling,” where highly interconnected systems lack

[…]
Content was cut in order to protect the source.Please visit the source for the rest of the article.