Category Archives: Artificial Intelligence

Retailers and brands are tapping new tools to build better connections with their customers and make their lives easier

Theres good old-fashioned customer service and then theres artificial intelligence chatbots that can answer customers questions, create their grocery lists, make their travel plans, and let them see how theyll look in a new outfit.

As humans appetite for AI-based tools grows, retailers and brands are using language-based tools like ChatGPT, created by OpenAI, to build better customer connections and enhance their shopping experiences.

This month, Expedia launched a new travel-planning tool integrating ChatGPT. It gives members the ability to build their perfect itinerary including where to stay, what to do and how to get around just by starting a conversation in the app. In Europe, French grocery giant Carrefour has been testing videos on its website created with ChatGPT and generative AI (the umbrella term for AI that can produce content on demand) that use human-like avatars to answer customers questions about purchasing healthier foods for less. Consumer packaged goods brands like Hellmanns are getting in on the chatbot action, too.

Todays AI technology is revolutionizing the relationship between brands and their consumers, says Kristen Denega, Canada Hellmanns market lead & North American innovations at Unilever.

During the holidays in 2022, Denega saw an opportunity to marry AI and the Hellmanns brand to help Canadians save on groceries. In exchange for inputting their fridge and pantry ingredients (including Hellmanns mayonnaise) into ChatGPT, consumers received a tasty recipe they may not have considered otherwise.

We collaborated with TikTok creators to show how they transformed their holiday leftovers into a delicious meal using ChatGPT and Hellmanns mayo, says Denega. This allowed us to connect with everyday Canadians and inspire them to save and repurpose their leftovers during one of the most wasteful times of the year.

She says Hellmanns is always looking for creative ways to communicate with consumers about food waste and how to think differently about the value of foods in their fridge. ChatGPT provided us with a culturally relevant opportunity to do just that by tapping into a moment in time when everyone was experimenting with this platform, she says.

With the evolution of AI capabilities over the last decade, analysts say were finally at a point where AI applications like ChatGPT have the potential to significantly improve retailer-shopper connections. Research shows that shoppers are becoming more receptive to this technology, too. According to a 2023 U.S. survey commissioned by software provider Redpoint Global, almost half of respondents (48 per cent) said they would interact with AI more frequently if it would make their customer experience with a brand more seamless, consistent and convenient.

Generative AI is giving us opportunities for interaction from a virtual perspective that brings in much more of an emotional connection with customers, says Krish Banerjee, Canada managing director (partner), data, analytics & applied intelligence at Accenture.

Rather than just focusing on transactions, he says retailers can start to better understand customers behaviours to personalize marketing efforts and provide useful recommendations. Understanding the language of their interactions and understanding their expectations is all part of what generative AI is providing us with which wasnt here before, he says.

In addition to powering intuitive customer service bots, Banerjee says retailers are experimenting with virtual try-ons that allow customers to see how products would look on them before they buy. We can also expect to see future AI applications around collaborative product design where retailers work with their customers from initial concept to finished item.

Going forward, Banerjee says a key part in evolving and improving AI applications will rely on giving consumers better control of the data theyre willing to share with retailers, which will allow for a more tailored use of their information. Now its based on what websites Im browsing and cookies that go away in a couple of years and the information Ive provided in social media, he says.

Accentures recently released Technology Vision 2023 report points to transparency becoming a companys most precious resource as we start a new era of business. The report notes 87 per cent of Canadian executives say data transparency is becoming a competitive differentiator for their organizations.

Marrying all that customer information now collected from various sources will be challenging for retailers, says Stewart Samuel, director of retail futures at IGD, a research organization focused on the grocery sector. Its not just a matter of turning on ChatGPT and expecting good results, he says. Theres a lot of work to be done ahead of that, including figuring out how to protect customer data and [adhere] to regulatory frameworks.

That said, Samuel believes retailers have much to gain from being early adopters of AI technologies that can enhance shopping experiences, especially because these tools can be refined and improved once implemented.

AI is an area where you can create an advantage early on and then continue to grow that advantage, he says. The sooner you get into it, the sooner you can make incremental improvements to your business, and these tools can learn and adapt from that.

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AI goes shopping: How artificial intelligence will reshape the ... - Pique Newsmagazine

A GERMAN magazines world exclusive interview with paralysed F1 legend Michael Schumacher. Fake.

A stunning photograph given first place and handed a prestigious Sony World Photography Award. Never taken.

And a banger of a new song called Heart On My Sleeve featuring Drake and The Weeknd dropped on streaming services. Never recorded.

Welcome to another crazy 24 hours in the world of artificial intelligence, where truth and disinformation collide.

Die Aktuelle, a weekly German gossip magazine, splashed a Schumacher interview across its cover when the content of it was actually created by an AI chatbot designed to respond like Schumacher might.

Berlin artist Boris Eldagsen revealed his photo submitted to a high-profile photography competition was dreamt up by artificial intelligence.

This came just after a new song purportedly by Drake was pulled from streaming services by Universal Music Group for infringing content created with generative AI.

These controversies followed on from provocative AI-generated images of Frances President Emmanuel Macron being arrested and of an incandescent Donald Trump being manhandled by American police.

All beamed around the world to a believing audience.

Thats not to mention a super-realistic shot of the Pope resplendent in a massive white puffer coat.

This one even fooled broadcaster and seasoned journalist Andrew Marr, as I found out in a recent conversation with him.

Such images are created by AI technology with the simple push of a button, with entire scenes generated from nothing.

The growing threat posed by generative artificial intelligence technologies is upon us.

Not long ago, it would have been simple to distinguish between real and fake images but it is now almost impossible to spot the difference.

The simplicity of producing these photographs, interviews, songs and soon videos means that platforms that dont put measures against them will be flooded.

These technologies and deepfakes are clear and present threats to democracy and are being seized upon by propagandist regimes to supercharge their agenda and drown out truth.

You could fake an entire political movement, for example.

This is a new war we need to fight, a war on artificial truth and the inequality of truth around the world.

It is time to restore trust. Soon, we will lose the ability to have reasonable online discourse if we cant have a shared sense of reality.

These forgeries are so sophisticated that millions of people globally could be simultaneously watching and believing a speech that Joe Biden never gave.

Nation states will have to reimagine how they govern in a world where their communication to the public will be, by default, disbelieved.

One of the biggest issues we have in social media is that content is user-uploaded and it is nearly impossible to track its origin.

Was the upload taken by an iPhone? Was it heavily Photoshopped? Was it a complete fabrication generated by AI? We dont know its veracity.

Information warfare is now a front, right alongside conventional warfare.

During the Ukraine conflict, we have been faced with a barrage of manipulated media.

There have been deepfake videos of President Zelensky where he says he is resigning and surrendering. It doesnt get more serious than that.

These are dangerous weapons which can have devastating consequences.

And unlike T-80 tanks, the weapons of this front are in everyones hands.

To counter all of this, a number of us computer scientists are creating technologies that help build trust.

Ours is FrankliApp.com, a content platform where we can definitively say that every piece of photography and video is not edited, faked or touched up in any way.

We need more of this and the right regulation to ensure it happens.

As investor Ian Hogarth told Radio 4 yesterday: Theres currently more regulation on selling a Pret sandwich than there is in building super-intelligence.

AI companies should be forced to open source their models and allow anyone to check if a piece of content was created by their service.

We also need regulations that make platforms disclose a particular photo or videos digital provenance.

There is some precedent for this as France orders disclosure of fashion photo edits. We need this in all sectors.

The conjured images of Trump, Macron and many others have now been seen and believed by millions worldwide on platforms that dont care whether what they are promoting is real or not.

Thats just plain wrong.

The world needs a solution to this tsunami of distortion.

We must shine a light on the truth, and nothing but the truth, delivering authenticity in this age of disinformation.

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This is a war and artificial intelligence is more dangerous than a T-80 tank. Unlike a tank its in e... - The US Sun

With the sudden influx of protocols based on artificial intelligence, its only natural to ask one question: which are the top AI leaders so that daring investors can profit? According to Grand View Research, the global AI market size reached a valuation of $136.55 billion in 2022. From this year till 2030, experts project that the segment will expand at a compound annual growth rate (CAGR) of 37.3%.

At the culmination of the forecasted period, the top AI companies can help sector revenue hit slightly over $1.81 trillion. Therefore, investors should at least consider positioning themselves in relevant artificial intelligence stocks. Below is an eclectic list of enterprises that can benefit from this latest innovation.

Source: Blue Andy / Shutterstock.com

A rather obvious idea for artificial intelligence stocks to buy, computer software and hardware giant Microsoft (NASDAQ:MSFT) pushed the needle forward in the AI department with its integration of popular chatbot ChatGPT into its ecosystem. In particular, Microsofts incorporation of ChatGPT into its Bing search engine should significantly help boost relevance.

On many levels, it really comes down to simple math. As you know, Bing falls well behind in terms of market share for the global search engine space. At last count, it holds less than 3% of global share, which frankly stinks. However, with ChatGPTs intuitive question-and-answer format (via normal human language), the move should accelerate Bings lowly position to somewhere significantly higher.

Financially, youre looking at a stalwart with a stable balance sheet, strong revenue and even stronger profitability. Therefore, its one of the top AI companies that should be around for a long time.Finally, analysts peg MSFT as a consensus strong buy. On average, their price target lands at $300.97, implying over 4% upside potential.

Source: shutterstock.com/local_doctor

With rival Microsoft aggressively moving into the AI space, Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) clearly has some catching up to do. Nevertheless, GOOG should rank among the top artificial intelligence stocks to buy. Sure, the current circumstances dont seem to bode well for Alphabets Google ecosystem. In my opinion, however, both Microsoft and Alphabet can easily coexist.

Having used the ChatGPT platform for some time, its incredibly useful for narrowing down research parameters. However, once youve identified a path to take, Google arguably offers a more viable solution for additional research. By offering multiple choices (when available), Google forces the human operator to consider the value of the information presented.

The issue I have with chatbots is that they attempt to do the thinking for you. But as the rise of misinformation confirms, significant demand exists for quality and accurate information. Im afraid chatbots just arent there yet.In the meantime, you can rest assured that analysts peg GOOG a unanimous strong buy. Their average price target stands at $126, implying over 18% upside potential.

Source: shutterstock.com/YAKOBCHUK V

One of the underappreciated AI firms and tech enterprises overall, IBM (NYSE:IBM) has been building for a time such as this. Admittedly, Big Blue struggled under the increasingly onerous weight of its legacy businesses in the past. However, thats exactly where it is in the past. Moving forward, IBM represents one of the more compelling artificial intelligence stocks thanks to its myriad business units.

Most prominently, IBM ranks among the AI leaders for its IBM Watson applications. Featuring attributes such as natural language understanding and speech-to-text protocols, Watson delivers intuitive solutions. As well, the technology enables IBMs enterprise-level clients to scale up appropriately based on business dynamics.

Another factor that will almost certainly help in the investment realm is the companys passive income. Currently, Big Blue carries a forward yield of 5.16%, well above the tech sectors average yield of 1.37%. Also, it commands 29 years of consecutive annual dividend increases.

Lastly, analysts peg IBM as a consensus moderate buy. Their average price target hits $146.70, implying nearly 15% upside potential.

Source: shutterstock.com/Den Rise

Typically, when you think of Toyota (NYSE:TM), youre thinking about reliable cars, not necessarily about artificial intelligence stocks to buy. However, this perception may change and quite soon. For those in the know, Toyota ranks among the top AI companies. Over the years, the automotive giant made significant investments in AI-based solutions such as machine learning.

Notably, Toyota worked with other companies to use AI and ML to predict demand for taxi service while also considering influencers such as smartphone data and weather conditions. Moving forward, Toyota can help push automated mobility and transportation through its advanced tech acumen.

As well, CNBC recently reported that the day for $25,000 electric vehicles will soon arrive. Therefore, by researching AI/ML automotive applications now, Toyota can be in a position to offer compelling products later.Within the past 90 days, no one covers TM. However, BofA Securities Kei Nihonyanagi rated shares as a buy, with a $171.57 price target implying almost 25% upside potential.

Source: shutterstock.com/Peshkova

As one of the worlds top semiconductor specialists, Nvidia (NASDAQ:NVDA) easily ranks among the top artificial intelligence stocks to buy. Enticingly, Nvidia gained fame through its class-leading graphics processing units (GPUs), which often find homes among top gamers. Now, as video games become more advanced, they incorporate AI to simulate realistic behaviors. All this requires intense processing power, which Nvidia naturally helps feed.

In addition, Nvidias AI and ML protocols may usher in true automation regarding mobility and transportation. Further, Nvidias processors should undergird other enterprises efforts at industrial automation. With the company command decades of acumen developing solutions for intensive computer applications, NVDA should benefit.

Currently, the company owns a solid balance sheet, along with blistering revenue growth and robust profitability metrics. About the only issue is that shares might be overvalued.

Nevertheless, that didnt stop Wall Street analysts from pegging NVDA as a consensus strong buy. Their average price target stands at $287.03, implying over 6% upside potential.

Source: Shutterstock

When you think about Disney (NYSE:DIS), youre either thinking about its entertainment library or its political battle with Florida Governor Ron DeSantis. However, over time, investors might regard the Magic Kingdom as one the AI leaders. Thats right in addition to ticking off certain public officials, Disney ranks among the artificial intelligence stocks to buy.

Fundamentally, AI protocols should help the House of Mouse because entertainment firms spend billions on content and events. However, humans can be fickle. An initiative no matter how bright and attractive can always fail. If and when they do, that can cause devastating losses for those funding the projects. Therefore, artificial intelligence can help cut down on those mistakes.

Here, Disney has explored Affective AI, an emerging tech which seeks to detect and analyze human emotional states. Through this platform, Disney can guide its content narratives to their most effective (i.e. profitable) outcomes.

Presently, analysts peg DIS as a consensus strong buy. Their average price target stands at $128.33, implying 28% upside potential.

Source: Shutterstock

An insurance technology specialist, Lemonade (NYSE:LMND) features plenty of potential but also plenty of risk. Nevertheless, as machines get smarter, Lemonade could easily stand among the best AI firms. Already, its one of the intriguing artificial intelligence stocks thanks to the companys data-driven approach to delivering insurance products to its customers.

Moving forward, the use of data for providing services will become a necessity. For one thing, computers can think faster than humans. Rifling through myriad datapoints and variables, Lemonade can almost instantly provide insurance programs through its app.

Second and more importantly, the rise of awareness toward social inequities undergirds the need for unbiased platforms. Theoretically, you cant get any more unbiased than a non-human protocol. Still, LMND presents risks. Since the beginning of the year, shares declined over 4%. In the trailing one-year period, theyre down almost 42%.

Plus, analysts peg LMND as a consensus hold. However, their average price target stands at $19.21, implying over 46% upside potential.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.

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7 Companies That Could Benefit from the Rise of Artificial Intelligence - InvestorPlace

Editors note: Veteran entrepreneur and investorDonald Thompsonwrites a weekly column about management and leadership as well as diversity and other important issues for WRAL TechWire. His columns are published on Wednesdays.

Note to readers: WRAL TechWire would like to hear from you about views expressed by our contributors. Please send email to:info@wraltechwire.com.

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RESEARCH TRIANGLE PARK Depending on your imagination, there are many ways to view artificial intelligence (AI). For those of you with a sci-fi bent, maybe its a scary version of humans fighting machines, like The Terminator and The Matrix. Alternatively, AI could be seen as a tool to make life better by tapping into global collective knowledge to make advances in everything from medicine to transportation systems.

Either way, AI is not new as either a guiding principle in science fiction and fantasy or in the real world. ChatGPT might be scary to some people, but companies have utilized AI for a long time. For example, Julie Basello and Shannon Feeley explain that manufacturing businesses have used AI to optimize operations and increase efficiency and productivity that assists in the management of supply chains, risk, sales volume and quality of products.

The popularity of ChatGPT, however, has sparked new debate about AI and its role in society. Boiling all the different viewpoints down to fundamentals, what we have learned is that AI is based on lots nearly inconceivable amounts of data that has been created (mainly) by humans.

The human role in producing the collective knowledge base means that it has many of the same characteristics that people (generally) possess: both positive and negative. As Porter Braswell explains: AI is only as good as the data we feed it. The central idea contained in his quote is why many people who work in diversity, equity and inclusion (DEI) are wary of AI and the possible future it foreshadows.

The underlying challenge with AI is that it is created from data sets that demonstrate the same biases as the people who created them. Observers and analysts are concerned that a tool like ChatGPT may perpetuate or even amplify existing biases and inequalities. In other words, the information used to train the machine brain is filled with inherent ideas that are biased. The speed and replication of this thinking then becomes a kind of vicious circle that may lead to even greater discrimination.

From my perspective, the idea that we are supposed to naturally trust the AI-created output as better or scientific is compromised by the fact that people created the data. Who created it? Did these individuals consider DEI? What are the consequences of biased or discriminatory language existing within the core thinking and learning of AI systems?

AI is never infallible, because it is designed by highly fallible humans and it can only learn from existing data sets, Braswell says. It will help us create a better future one which yields more desirable and equitable data sets but only if humans are there to analyze its outputs and help shape the direction in which they guide us.

While smart executives should raise questions about how AI is created and by whom, there is also a resource allocation view. As these tools become more ubiquitous, we must ensure that they are inclusive and accessible to all people, regardless of race, gender or socioeconomic status. As leaders in DEI and broadly across organizations, we have to make them available across society so that all people benefit, not just the few.

Here are three specific, actionable steps that senior executives and managers can take now to ensure that AI systems are diversity-forward:

If you look beyond the tech and its potential for good and bad, what is revealed is that AI actually has a marketing problem. We know we need AI and we are not going to slow down its development, now that it has become the hottest business topic on the planet. Simultaneously, there are basic challenges because people create the infrastructure and people have biases.

The ironic aspect is that those of us working in DEI face a similar situation. Many executives are wondering why their teams dont perform better and are asking questions about what is holding them back. The honest answer is usually that they lack something that can be traced back to culture.

Smart leaders are asking tough questions because their people and organizations want culture change that leads to workplace excellence. We certainly dont want a situation where AI is actually undercutting critical DEI programming. It is up to executive teams to ensure that these new technologies are developed and implemented in a way that promotes DEI and benefits everyone, not stumbling into a solution that actually perpetuates the stereotypes and inequalities that so many people have dedicated themselves to eradicating.

There are so many potential benefits with AI. With those benefits comes a great deal of responsibility. It is going to take true leadership to ensure that DEI is prioritized, particularly since many people in those roles are unsure of what they should be doing to make diversity a priority on a personal or organizational level.

Every new technology has unintended consequences. Lets all work together now to ensure that bias and discrimination are not part of the AI brain we cant wait for Neo to save us!

About the Author

Donald Thompson founded The Diversity Movement to literally change the world. As CEO, he has guided its work with hundreds of clients and through hundreds of thousands of data touch points. TDMs global recognition centers on tying DEI initiatives to business objectives. Recognized by Inc., Fast Company and Forbes, he is the author of Underestimated: A CEOs Unlikely Path to Success, hosts the podcast High Octane Leadership in an Empathetic World and has published widely on leadership and the executive mindset. As a leadership and executive coach, Thompson has created a culture-centric ethos for winning in the marketplace by balancing empathy and economics. Follow him on LinkedIn for updates on news, events, and his podcast, or contact him at info@donaldthompson.com for executive coaching, speaking engagements or DEI-related content.

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Artificial intelligence & diversity, equity, inclusion: How execs can meet the challenge - WRAL TechWire

Dr. Robert Marks discusses a Stanford survey that says 36% of researchers are concerned artificial intelligence could bring 'nuclear level catastrophe' on 'Kennedy.'

According to a new report, artificial intelligence (AI), a possible recession and a return to pre-pandemic activity are driving record fraud rates across the globe.

Pindrop, a global leader in voice technology, has released its annual Voice Intelligence & Security Report following an analysis of five billion calls and 3 billion fraud catches.

During an economic downturn, fraud is typically reported as a significant crime. The report claims historical data suggests that insurance claims and fraud will skyrocket in 2023.

ROMANCE SCAMS COST AMERICANS $1B IN 2022, A NEW RECORD

Photo illustration showing ChatGPT and OpenAI research laboratory logo and inscription at a mobile phone smartphone screen with a blurry background. Open AI is an app using artificial intelligence technology. (Nicolas Economou/NurPhoto via Getty Images / Getty Images)

With the pandemic winding down and economic conditions shifting, fraudsters have shifted focus away from government payouts and back to more traditional targets, such as contact centers.

But fraudsters are using new tactics to attack their old marks, including the use of personal user data acquired from the dark web, new AI models for synthetic audio generation and more. These factors have led to a 40% increase in fraud rates against contact centers in 2022 compared to the year prior.

The report found that fraudsters leveraging fast-learning AI models to create synthetic audio and content have already led to far-reaching consequences in the world of fraud. Although deepfakes and synthetic voices have existed for nearly 30 years, bad actors have made them more persuasive by pairing the tech with smart scripts and conversational speech.

Recently, Vice News used a synthetically generated voice with tools from ElevenLabs to utter a fixed passphrase "My Voice is My Password" and was able to bypass the voice authentication system at Lloyds Bank.

UNBRIDLED AI TECH RISKS SPREAD OF DISINFORMATION, REQUIRING POLICY MAKERS STEP IN WITH RULES: EXPERTS

Scammers will often resort to "phishing," which is a nefarious information gathering technique that uses fraud and trickery to fool people into handing over contact details, financial documents and payments. (iStock / iStock)

Arizona mother Jennifer DeStefano recounted a terrifying experience when phone scammers used AI technology to make her think her teenage daughter had been kidnapped.

The call came amidst a rise in "spoofing" schemes with fraudsters claiming that they have kidnapped loved ones to receive ransom money using voice cloning technology.

But, Pindrop says these technologies are not frequently used on the average citizen or consumer but are rather implemented in spearfishing schemes to attack high-profile targets, like CEOs and other C-suite executives.

For example, a bad actor or team of fraudsters could use a CEOs voice to ask another executive to wire millions of dollars for a fake offer to buy a company.

"It's actually the voice of the CEO, even in the case of the CEO having an accent, or even in the case that the CEO doesn't have public facing audio," Pindrop Co-Founder and CEO Vijay Balasubramanian told Fox News Digital.

This voice audio is typically derived from acquiring private recordings and internal all-hands messaging.

Pindrop notes that such tech could become more pervasive and help to inhibit other established fraud techniques.

CHATGPT FACING POTENTIAL DEFAMATION LAWSUIT AFTER FALSELY LABELING AUSTRALIAN MAYOR AS BRIBERY CONVICT

Verizon Business CEO Tami Erwin shares tips for protecting against cyber threats and encourages creating a security framework.

These include large-scale vishing/smishing efforts, victim social engineering, and (Interactive Voice Response) IVR reconnaissance. These tactics have caused permanent damage to brand reputations and forced consumer abandonment, according to Pindrop, resulting in the loss of billions of dollars.

Since 2020, these data breaches have affected over 300 million victims and data compromises are at an all-time high, with more than 1,800 events reported in 2021 and 2022 individually.

Furthermore, in 2021 and 2022, the number of reported data breaches reached an all-time high, with over 1,800 incidents yearly.

"It always starts with reconnaissance," Balasubramanian said.

IVR is the system companies use to guide users through their call center. For example, press one for billing information or press two for your balance. These systems have become more conversational because of AI.

CHATGPT BEING USED TO WRITE MALWARE, RANSOMWARE: REPORTS

A person receives a potential spam phone call on their cell phone. (iStock / iStock)

"They're taking a social security number that they have and they will go to every single bank and punch in that social security number. And the response of that system is one of two things. I don't recognize what that is, or hey, welcome thank you for being a valued customer. Your account balance is x," Balasubramanian said.

After acquiring all this account information, fraudsters target the accounts with the highest balances.

They then send a message saying there is a fraud charge with a convincing message, including information mined with bots from the IVR systems. The message then asks the account holder to divulge further information, such as a credit card number or CVV, which helps the fraudster finally access the account and remove funds.

Pindrop says companies need to detect voice liveness in sync with automatic speech recognition (ASR) and audio analytics to determine the speaker's environment and contextual audio to prevent synthetic voices, pitch manipulation, and replay attacks.

To prevent scams using synthetic voices, pitch manipulation and replay attacks, Pindrop says companies must also be capable of detecting voice liveness through automatic speech recognition (ASR) and audio analytics that determine the speaker's environment and contextual audio.

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Unfortunately, research suggests that fraud rates in states that pose enhanced restrictions on the use of biometrics (such as California, Texas, Illinois, and Washington) are twice as likely to experience fraud. While these states enact such laws to protect consumer data, the legislation often makes no differentiation when it comes to company cybersecurity measures, which need voice analytics to adequately protect company and consumer data.

"If I target a consumer from those states, they most likely don't have advanced analytics performed on the voice, they are not looking for deep fakes. They are not checking if the voice is distorted," Balasubramanian said. "They aren't looking for any of that, so it's easy to steal money for those consumers."

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Artificial intelligence, possible recession driving record fraud rates ... - Fox Business

A nationwide scam involving extortion phone calls using AI-generated voices of peoples loved ones has made it to McMinnville.

Scammers are using artificial intelligence technology to send frightened, desperate messages that sound like the voice of loved ones. Last month, the Federal Trade Commission (FTC) issued a warning about the scams. It could be a child or grandchild saying they had a wreck or got arrested and need bail money. Other calls involve phony kidnappers spoofing the voices of their supposed victims. Warren County locals Olivia Hylton and her husband were targeted recently.

Last Friday, Hylton reported on social media how her husband received a terrifying call from a woman screaming about being in an accident. Suddenly a man's voice comes on the phone line saying It wasnt an accident, it was an incident. The voice on the line went on to say that he was a drug dealer and that if the husband tried to call his wife or didnt come up with $10,000 she would be dead.

Im very happy I was with my friend and my husband was able to get hold of her. Until the sheriff said it was a scam, we were scared for the girl on the phone, Olivia Hylton explained. Hylton and her husband reported the call to law enforcement and the Warren County Sheriffs Department informed them that these types of scam calls are actually very frequent.

A similar story, the case of Jennifer DeStefano, made national headlines earlier this month. DeStefano received a frightening call from what sounded like her daughter. The scammer on the line asked for a million dollars. When DeStefano explained there was no way she could raise that the amount was lowered to $50,000.

Dan Mayo, assistant special agent in charge of the Phoenix office, pointed out how scammers can sometimes get details regarding victims from public social media accounts and to keep an eye out for unfamiliar area codes or country codes. Databases of repeated previous commercial hacks are also a source of personal information which can include family members, employment and more. Many of these scammers had not only the number and name associated with it but information about family members or friends.

The FTC advises people to attempt to contact the person who supposedly contacted them to verify the story before ever sending any money. Always use a phone number you know is theirs. If you cant get in touch with them then reach out to other family members or friends. You may also prepare a code word to confirm identity in such a case.

Regardless of the nature or pretext of the scam, there are certain telltale signs that something may be awry. Scammers will almost always require payment through channels that make it difficult, or impossible, to get the money returned. Wire transfers, cryptocurrency and gift cards being required for payment may be a sign that the person requesting money is not above board.

The AI scam call is not the only one that has affected Warren County citizens recently. The McMinnville Police Department also warned locals of a series of scam calls affecting people in Warren County involving a person claiming to be with law enforcement and asking for money to take care of a warrant for failure to appear before the Grand Jury. The police department warns that they will never call and ask for money to clear up a warrant and if in doubt about such, call local law enforcement.

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Artificial intelligence scam calls received locally - Southern Standard