Stat(s) Of The Week: AI Can Perpetuate And Prevent Scams
A pair of studies look at artificial intelligence and online fraud.
AI-powered deepfake technology is already plaguing the business world, but using AI can lower companies’ cyber insurance costs, according to a pair of surveys flagged by Legal Dive this week.
Deepfakes are AI-manipulated images and messages that convincingly mimic real people, often for social engineering scams.
According to a survey of over 1,500 U.S. and U.K. finance professionals by Medius, 53% of businesses have been targeted with deepfake scams, and 85% of respondents consider them an “existential threat” to their companies.
But the news isn’t all bad.
A separate survey by Delinea found that half of U.S. companies use AI to combat scammers through practices like threat detection and monitoring — and that this is lowering their insurance costs.
“These advanced technologies are proving instrumental in reducing cyber insurance premiums,” Delinea wrote in a news release, “offering a strategic advantage to policyholders in an environment where overall insurance costs are on the rise.”
Companies lean on AI in push to curb cyber insurance costs [Legal Dive]
Deepfake scams escalate, hitting 53% of businesses [Legal Dive]
Jeremy Barker is the director of content marketing for Breaking Media. Feel free to email him with questions or comments and to connect on LinkedIn.
