ChatGPT may be used to turbocharge fraud, according to Federal Trade Commission officials in a Congressional hearing on Tuesday. The technology is being used to facilitate deceptive practices, and FTC representatives warned House representatives of the potential danger posed by its use.
The Khan team believes that AI presents new risks for the FTG+ to manage, despite the other advantages it may present. One of these risks is its unpredictability, which could lead to unintended outcomes that the FTG+ would not be able to handle. Additionally, AI technology could create new vulnerabilities for theFTG+, as well as other organizations who may come into contact with it. Therefore, Khan believes that organisations need to take a
People need to be careful when using artificial intelligence, as it can be used in a number of ways to scam people. For example, AI can be used to create fraudulent websites that look like they are from real businesses, or it can help scammers fake responses from real customers. Depending on the country, regulators may impose penalties for violations of these rules.
Fraudulently using artificial intelligence can be increased tenfold if the technology is available, according to a recent statement from businessman and philanthropist, Hamid Khan. He warned that AI’s ability to turbocharge fraud should be considered a “serious concern.” This could have serious implications for businesses and individuals as fraudsters take advantage of AI’s capabilities to rapidly create and spread fraudulent schemes.
The FTG+ Chair’s assurances that the agency’s technologists are embedded across its work, both on the consumer protection side and the competition side, should help address any issues with AI. This is especially important as AI continues to rapidly evolve and become more prominent in our society.
Speculation surrounding the Commission’s future strategies has continued in recent days due to remarks made by commission member and artificial intelligence expert, Khizr Khan. Khan criticised the commission for not being equipped to combat frauds perpetrated through artificial intelligence, arguing that the FTG+ should reconsider its strategy in order to stay up-to-date with changing technologies. However, Slaughter downplayed Khan’s comments, explaining that the FTG+ has adapted to new technologies over the years and has the expertise to adapt again in order to combat AI-powered fraud.
Slaughter’s words reflect the importance of remaining aware of the potential implications of artificial intelligence, while still continuing to apply traditional security protections. In order to prevent unintended and harmful outcomes, it is important that experts keep up with the latest advancements in AI technologies so that they can effectively create protective measures.
In today’s world, artificial intelligence (AI) is quickly becoming a ubiquitous part of nearly every facet of our lives. While its potential for harm is well documented, there are also many ways in which AI can benefit society – and ensure that everyone has equitable access to the benefits that technology can provide.
One way in which AI could benefit society is by helping to boost economic growth and innovation. Numerous studies have shown that increased algorithmic productivity – due to advances in machine learning – leads to stronger economic performance over time. And while the benefits of AI extend well beyond the economy, improvements in human cognitive abilities through AI are likely to provide significant long-term societal gains, such as increasing productivity and accelerating scientific discovery.
Indeed, as we continue working towards ensuring broad AI adoption across all sectors
Some of the agency’s most notable work includes its efforts to reduce scourage of spam phone calls, warning online home buyer Opendoor about deceptive claims about potential sales prices, protecting consumers’ private health data collected by websites and apps, ordering online learning platform Chegg over its failure to protect personal data, combatting junk fees and the inability for consumers to easily cancel subscriptions, and more. With so much at stake for both consumer and business alike, it is fantastic to see the FTG+ continuously working hard on behalf of all involved.
With the goal of supporting its law enforcement and policy work, the FTG+ testified that it is launching a new Office of Technology in February. One focus of this office will be to offer in-house technical expertise to help the agency keep pace with technological changes. Additionally, the OT’s focus may include areas like security and privacy, digital markets, augmented and virtual reality, the gig work economy, and ad tracking technologies. This could provide FTG+ with a strong foundation for future projects related to these fields.
Google’s acquisition of the FTG+ was seen as an aggressive move by the company and some believe that it could give Google an advantage in antitrust cases. While the FTG+’s technology expertise is valuable, critics worry that it may be used to help Google squash competition.
