Amid the uproar over fake news spreading all over the social media platforms, even the global business newswire Dow Jones tumbled upon a baiting headline that moved markets upside down for an instant over a fake news that said Google had acquired Apple for $9 billion.
In just 2 minutes, Dow Jones removed the story and published an apology. But the damage done was already there to see as tickers showed $2 instant jump in the price of Apple shares from $156 to $158, and many trader bots had bought the story.
Dow Jones said the item was never meant for publication. "I take today's inadvertent and erroneous publication of testing materials extremely seriously. While immediate corrective action has been taken, I've also ordered a review of news and technology processes in this area," said Dow Jones CEO William Lewis.
Soon a fake cover-up too appeared on social media claiming that the whole fiasco was prearranged as part of Steve Jobs' will and it was discussed with Google co-founder Larry Page before Jobs's death.
More than the fake news, fake cover-ups will now dominate the mushroomed news arena, despite Google's reluctance. Moreover, Google Bots are the ones which display such news and trader bots are timed to buy such shares.
However, the incident certainly serves as a pointer to an automated world of the future under the aegis of AI (artificial intelligence) in which Google, Apple, Facebook and Dow Jones will be key players.