AI-Generated Cybercrime Is Just Getting Started

If you are like me, you have lost count of the number of times that a salesperson, white paper or industry expert has said “this new technology will revolutionize your business, create new profits and so much more. Well today the product that everyone is hyper ventilating about is AI or Artificial Intelligence. 

For all the articles about how wonderful this new technology is, there is a need to appreciate the value of solid business practices and simple processes need to be the final backstop for protection. Why would I, a technologist, advocate for a simple human based system of checks and balances? Well, let me share an event that made news that I expect within a year will be a threat for any company that cannot afford to lose $10,000.

If you have not heard or read this story, then visit this link: A company lost $25 million after an employee was tricked by deepfakes of his coworkers on a video call: police (msn.com)

Yes. A deepfake AI-built conference call was sufficient to extort $25 million from a company. We all need to understand that there is no software that can prevent this from happening to all of us.  Right now, the only barrier is the cost to develop these deepfakes. I expect that within a year the cost barrier will be such that a cybercriminal can, for under $1,000, create a deepfake your staff could fall prey to. When the cost to deploy a deepfake gets to this level, then the extortion can drop to $10,000 as the profit for one “win” is 10 times the investment. 

What this means is that checks and balances need to be established before these types of attacks become common place. Much like requiring two signatures on a check over a certain amount, there will need to be controls in place to prevent certain changes unless verified in person. The process also needs to be expanded to your customers and vendors so that your company is assured who is being paid and who owes. Remember. There is no software that can stop this so it’s time to talk paper process and effective controls.

In our discussions with customers, we oftentimes recommend a business process over software or even automated processes for security, peace of mind, and assurance that what is happening in a transaction is fully understood and sound.

If you wish to learn more or understand where the most critical places might be to focus to minimize the impact of these sorts of attacks, reach out and let’s talk. Call us at (971)337-2428 or book a complementary discovery call.

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