By Memes Threaten US Financial System: RAND
by Tim Hinchcliffe | The Sociable
Memes are a threat to the US financial system, according to a Pentagon-sponsored report from the RAND Corporation.
The RAND report, “Technological and Economic Threats to the US Financial System: An Initial Assessment of Growing Risks” looked at the potential costs and likelihood of four threats to the US financial system:
- Attacks on AI-enabled financial trading models
- Bond dumping by foreign holders of US debt
- Using deepfakes to spread misinformation
- Memetic engineering to manipulate beliefs and behaviors
Threats from deepfakes and cyberattacks are well-known, and bond dumping has to do with the fact that “foreign countries hold more than $7 trillion in US bonds, which — if dumped rapidly — could have the potential to roll markets.”
But memes are a major concern for US defense and intelligence agencies because they can be weaponized to carryout “memetic engineering attacks” that can “manipulate beliefs and behaviors.”
“Advanced memetic engineering attacks could progressively undermine trust in financial markets and institutions, causing a steady, incremental impact on market stability rather than a sudden breakdown“
RAND Corporation, Technological and Economic Threats to the US Financial System, July 2024
Source: RAND
“Memetic engineering involves designing viral ideas or culture (memes) to achieve a specific psychological or material outcome”
RAND Corporation, Technological and Economic Threats to the US Financial System, July 2024
The term “memetic engineering” is “derivative of genetic engineering, with memes being the cultural equivalent of a biological gene.”
According to the report, “Memetic engineering involves the strategic creation or manipulation of ideas, concepts, or beliefs to influence a targeted audience, often relying on psychological triggers or cognitive biases.” Read Full Article >
