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 artificial intelligence take scam


Artificial intelligence takes scam to a whole new level

#artificialintelligence

Imagine you wired hundreds of thousands of dollars somewhere based on a call from your boss, whose voice you recognized, only to find out you were talking to a machine and the money is lost. One company executive doesn't have to imagine it happening. He and his company were victims of what some experts say is one of the first cases of voice-mimicking software, a form of artificial intelligence (AI), being used in a scam. In a common version of the Business Email Compromise scam, an employee in a company's accounting department wires money somewhere based on what appears to be a legitimate email from the CEO, CFO or other high-ranking executive. I wrote a column last year noting that reported losses to the scam had grown from $226 million in 2014 to $676 million in 2017.

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