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Financial institutions are struggling to combat the increasing sophistication of AI-driven fraud, highlighting the critical need for improved detection and prevention methods. The rise of accessible AI tools has left many institutions ill-equipped to differentiate AI fraud from other types of fraudulent activities, creating a significant challenge in addressing the issue.
Ari Jacoby, CEO of Deduce, emphasizes the difficulty in identifying and segregating AI fraud due to the blending of legitimate personal information with socially engineered data, making detection by traditional systems nearly impossible. Financial institutions are urged to adopt layered, proactive solutions to mitigate the rapid growth of AI-generated fraud and prevent further escalation of the problem.
Financial IT 14month
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
How to level up your teaching with AI. Discover how to use clones and GPTs in your classroom—personalized AI teaching is the future.
Trump's Third Term? AI already knows how this can be done. A study shows how OpenAI, Grok, DeepSeek & Google outline ways to dismantle U.S. democracy.
Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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