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08/23/2023
The Modern Fraud Dilemma: It’s Good AI Against Bad AI
PYMNTS
Generative artificial intelligence (AI) is making everything easier, including scams.
Bloomberg reports that the world’s banking industry is “scrambling” to contain the risk of AI-generated criminal attacks.
And insiders have repeatedly told PYMNTS that AI could supercharge the capabilities of bad actors by providing turnkey and scalable cybertools, including AI-generated voice clones and other techniques straight out of the realm of science fiction or a “Mission Impossible” film, that can be used for nefarious purposes.
But as cyberthreats themselves become increasingly sophisticated, it is important to remember that every organization faces the same old challenges as before, such as a growing skill gap and resource constraints that hinder the operational efficiency of cyberdefenders.
After all, scams are as old as time itself and often rely on the same behaviorally driven social engineering tactics as earlier iterations, despite the newfangledness of AI technology.
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