The production of visual material has been completely transformed by artificial intelligence (AI). In recent years, a number of platforms for creating AI images have become available, and new platforms, like OpenAI’s flagship AI video editor Sora, are now starting to appear on the market.
AI picture and video platforms have improved time and cost efficiency while enabling people and organisations to produce content with boundless creativity and scalability. Unfortunately, the rapid advancement of this technology has surpassed legislative restrictions, creating a space where nefarious persons or organisations could abuse it.
In recent years, the use of deepfake images and videos has increased. These are media that have been digitally altered to replace a person’s appearance, voice, or body. This technology has gained attention due to the creation of deepfake audio of Keir Starmer, fake x-rated images of Taylor Swift, and a computer-generated video of Martin Lewis.
Advancements in AI technology have made deepfakes more sophisticated and harder to identify. With the right equipment, they can even be broadcast live, allowing individuals to have real-time conversations with someone who looks and sounds completely different on screen.
Recent reports indicate that instances of deepfake fraud have surged by 3,000% in 2023. With the technology becoming faster, cheaper, and more accessible, threat actors have swiftly incorporated it into their repertoire of cyberattack methods.
Deepfake technology presents numerous cyber risks for businesses. Over time, deepfakes have been employed to disseminate false information, mislead audiences, sway public opinion, and damage the reputation of individuals. Therefore, it is crucial to comprehend the potential risks involved.
The financial repercussions of deepfake attacks pose a serious threat to businesses, particularly through fraudulent activities and scams aimed at impersonating high-level decision-makers whom employees trust and respect.