Deepfake technology has the potential to deeply impact various aspects of society, including business regulation and economic welfare theory in Indonesia. While deepfake technology can be used for harmless entertainment purposes, it also poses significant risks to businesses, regulators, and the economy as a whole.
Deepfake technology has been a cause for concern globally, and Indonesia and the United Arab Emirates (UAE) particularly in Dubai and Abu Dhabi are taking steps to regulate its use in business and beyond. Deepfakes are highly sophisticated manipulated videos or audio recordings created using artificial intelligence to make it appear that someone is saying or doing something they never did.
Deepfake technology has been a growing concern worldwide, with Indonesia and India also facing challenges in regulating its use, especially in the business sector. In recent years, deepfakes have caused significant social and economic implications, leading to the need for stronger regulations to address this issue.