OpenAI CEO Sam Altman has warned of a “significant impending fraud crisis” in the financial sector due to AI’s ability to mimic human voices. He expressed concern over outdated authentication methods, saying: “A thing that terrifies me is apparently there are still some financial institutions that will accept a voice print as authentication for you to move a lot of money or do something else – you say a challenge phrase, and they just do it . . . That is a crazy thing to still be doing . . . AI has fully defeated most of the ways that people authenticate currently, other than passwords.” Altman said that AI-generated voice clones are becoming “indistinguishable from reality,” and called for new verification systems.
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