The advent of Artificial Intelligence (AI) and Machine Learning (ML) has revolutionized many facets of our lives, from augmented search and research capabilities (e.g. ChatGPT) to home assistants like Alexa and Siri to AI-generated images and videos. But there is a dual face to AI, alongside the advantages, it has also given rise to a new era of security threats, with deepfake AI fraud at the forefront. As deepfakes become increasingly sophisticated, they pose a rising risk across industries, and it’s imperative for enterprises to regain control of their security landscape.
The Dark Side Of AI
There has been much recent publicity concerning the use of deepfakes for nefarious purposes, most recently a deepfake video purporting to show Martin Lewis, the money-saving expert, in a scam advertisement. The deepfake looks like him and sounds like him, but it’s not him, it’s a deepfake.
Executive impersonation fraud is yet another example highlighted in the press concerned a group of fraudsters who apparently made off with $35 million after using forged email messages and deepfake audio to convince an employee of a United Arab Emirates company that a director requested the money as part of an acquisition of another organization.
Deepfake Threats In Numbers
Recent surveys and studies bear out these risks. According to a survey by VMWare, two out of three cybersecurity professionals have seen malicious deepfakes used in an attack, marking a 13% rise from the preceding year. In 2022, the Federal Trade Commission (FTC) reported over 5,000 instances of deepfake-related fraud, resulting in losses exceeding $3.3 million in some cases. Additionally, a study by the Ponemon Institute placed the average cost of a deepfake-related fraud incident at $1.6 million.
In the face of this growing threat, ValidSoft, a global leader in Voice Biometrics technology, speech science, and AI solutions, has introduced an advanced deepfake detection solution, Voice Verity ™. Trained with vast bodies of real and synthetically generated audio files, this solution uses deep learning algorithms, neural networks, and ML techniques to identify and prevent the malicious use of manipulated voice recordings. Important with continuous AI advancements that will revolutionarily impact life and work but may also facilitate scams and fraud unprecedentedly. Synthetic voices, specifically, enable impersonations, potentially threatening enterprises and consumers. The rise of AI brings not only opportunities but serious security concerns, demanding proactive countermeasures.
The Response To The Growing Threat
ValidSoft’s Voice Verity ™ solution is unique. It functions both in the cloud and on-premise and can be integrated with any audio-supporting channel. Since it’s not a biometric solution, it avoids issues relating to personally identifiable information (PII) and data storage, needing no enrollment or consent. The tool can be used across digital platforms, like social media and video conferencing, to detect fraudulent content. Furthermore, it’s compatible with all digital or analog voice/telephony channels, including all major CCaaS platforms like Five9, Talkdesk, and Genesys, allowing for analysis of inbound and outbound calls.
The Evolving Cybersecurity Landscape and the Rise of Deepfake Technology
Built specifically for synthetic speech detection, Voice Verity ™ brings an edge to the fight against deepfake fraud. This patented solution leverages algorithms that measure both behavioral traits and physical impact on sound. By modeling different sound frequencies, including those beyond human hearing, ValidSoft adds a powerful tool to the arsenal against cyber threats.
The rise of deepfake technology is a stark reminder of the evolving cybersecurity landscape. By 2024, the global deepfake market is expected to hit $20 billion, and experts predict that increasingly deepfakes will be indistinguishable (to the human ear at least) from genuine audio and video.
As cyber threats evolve, staying ahead becomes increasingly complex. It is crucial for businesses to fortify their defenses using tools like ValidSoft’s Voice Verity ™ generative AI deepfake audio detection solution. It is only through vigilance and proactive measures that we can ensure security stays ahead in the face of these emerging cyber risks.
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