Dr. George S. Chua l September 25, 2024 l Business Mirror
PEOPLE have been lying for a long time.
Just because someone says something or writes it down does not mean that it is the truth. I personally cannot believe that people will be gullible enough to believe that everything they hear or see is readily accepted. I suspect that individuals already have their own opinion and seeing or reading something that supports their stand is easily taken as fact!
On a more sinister note, individuals, groups of people or organizations may have an agenda or objective to promote someone or something. The opposite may also be the goal, which is to destroy an idea, reputation or detract from the real issue at hand. Sometimes fake news takes a life of its own and is able to bury the truth to the point that more people now believe the lie.
How is fake news normally propagated? It starts with creating a story or finding someone that is emotionally charged to create sympathy for whatever is being peddled. A video clip that is scripted, edited or even AI-generated can also be circulated with an accompanying story or narrative. That should get the fake news ball rolling and depending on the right audience reached, it could be adopted as truth in no time.
In business, fake news can have detrimental or even fatal consequences that can sometimes lead to a bank run or a product boycott. The best way to counter fake news is to challenge it by exposing the lies of the people behind the story and their ulterior motives. Exposing edited or AI-generated videos together with eye witness accounts or statements from the people in the fake news should clarify matters.
Fact-checking can also be used to counter fake news. There are a number of fact-check apps, sites and organizations where you can verify information and get the correct or factual information that should set the record straight. To limit the damage—the sooner this can be done the better—is spreading the correct information through the same channels where the fake news is being carried.
One way to prevent the proliferation of fake news is to make those initiating and even spreading it liable to both criminal and civil damages. Readers should also be aware of the difference between an opinion and a fact, and what is declared as a fact need to be vetted and verified. Knowing who the information came from as well as the validity and reputation of the source is important in deter-mining the accuracy of the information.
You should also be aware that some fake news may have elements of truth in it to make it sound legitimate but it has imbedded false information. The best way to control fake news is when you are in doubt about the source or accuracy of the information, do not become part of it, simply do not share or forward it.
*** The views and comments of Dr. George S. Chua are his own and not of the newspaper or the Financial Executives Institute of the Philippines (Finex). The author was 2016 Finex President, 2010 to 2020 FPI President, an active entrepreneur in fintech, broadcast, media, telecommunications, properties and a regular member of the National Press Club. He is also a Professorial Lecturer 2 at the University of the Philippines Diliman and BGC Campus, a Trustee of the FINEX Foundation and the Vice Chairman of the Market Governance Board of the Philippine Dealing and Exchange Corporation. Comments may be sent to georgechuaph@yahoo.com or gschua@up.edu.ph. Photo from Pinterest.