False information including misinformation and disinformation is being recognized as a severe global risk anticipated over the coming years. Access to generative artificial intelligence (AI) has dramatically increased the capacity for creating and disseminating falsified information. This is further compounded by algorithmic promotion of divisive content and creation of filter bubbles, leading to a precarious environment. We analyse the role of AI in exacerbating the false information crisis, evaluate regulatory responses to false information across various jurisdictions, and propose strategic policy recommendations for the Global Majority to effectively counter the threats of misinformation and disinformation in the age of AI.