As deepfake technology continues to evolve, it poses significant risks to personal and corporate integrity
As deepfake technology continues to evolve, it poses significant risks to personal and corporate integrity. These sophisticated AI-generated media can create hyper-realistic but false representations of individuals and events, leading to misinformation, cyberbullying, harassment, financial fraud, and identity theft. Such threats have far-reaching implications for businesses, government institutions, and the general public.
A notable incident highlighting the urgency of this issue occurred in January 2024, when a Hong Kong-based multinational company lost approximately USD 25 million (around Rs 207 crore) due to a deepfake scam. Scammers executed a convincing live video call using deepfake technology to impersonate company executives, leading to a severe financial loss before the deception was uncovered, as per media reports.
“Digital communications and a digital India will thrive only as long as there is trust,” said Rajesh Kumar SA, CEO of Phronetic.AI, an AI unit of Infibeam Avenues. “This partnership is a pivotal step in restoring trust in digital communications. Together, we will equip users with the necessary tools to differentiate between truth and fabrication in an increasingly complex digital landscape, thereby mitigating fraud risks and enhancing digital trust.”
Under the terms of the MoU, Infibeam Avenues’ AI business unit, Phronetic.AI, and the IISc team will collaboratively develop anti-deepfake technology specifically tailored for real-time video communication. The partnership will focus on selecting the most effective detection models for various scenarios, ensuring that real-time deepfake detection operates efficiently and cost-effectively at scale.
“We are committed to staying ahead of malicious actors by developing innovative AI solutions that ensure digital authenticity,” said Vishal Mehta, Chairman and Managing Director of Infibeam Avenues. “This partnership is a crucial step toward enhancing cybersecurity and preventing the misuse of deepfake technology for fraudulent activities.”
Courtesy: Businessworld
