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ARTICLE · 12 FEBRUARY 2024

The Manipulation Of AI: The Lack Of Regulations Thereof

S.S. Rana & Co.
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A UK based company has reported the loss of Euro 200,000 as per the insurance provider, Euler Hermes Group SA.

IndiaTechnology
Vikrant Rana
Vikrant Rana
Anuradha Gandhi
Anuradha Gandhi
Author LinkedIn connections

A UK based company has reported the loss of Euro 200,000 as per the insurance provider, Euler Hermes Group SA. The Insurance provider stated that a scammer pretended to be the CEO of the parent company, via Artificial Intelligence (AI) voice modulation, and asked the subsidiary company to transfer 200,000 Euro and this went through as the CEO of the subsidiary company believed that she was talking to the CEO of the parent company. AI has also been used by miscreants for pattern recognition and to assess the feasibility of a scam with regards to a particular victim. AI algorithms are also being used by miscreants to advertise scams via a personalized study of the victim. This article delves into the misuse of AI and comments about the need for regulations on the same.

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