Evolution of Artificial Intelligence, a Threat?

The use of generative AI to surpass necessary identity verification systems is extremely problematic in the face of traditional countermeasures still in practice. So far, OnlyFake faces a challenge in verifications, which require holding up the ID next to one’s face for verification. According to 404 Media, there is another market which profits from offering a solution to this loophole. There are sets of photos on sale wherein people are holding a piece of paper/passport- sized document to the camera, on which fake documents can be superimposed for the purpose of verification. A glaring issue here is the generation of more fraudulent markets for tying up loose ends in emerging technologies, putting established systems in a state of disarray. To complement
such disruption, OnlyFake plans to introduce a face and selfie generator soon.

Facial deepfakes and fake ID generation are a part of evolving generative AI, which also includes synthetic voice phishing. These identity verification enablers dilute existing security tests like two-factor authentications and KYC (know your customer) and, in a matter of time, are likely to surpass them with ease. This poses a serious threat to all financial systems across the globe, especially banks, stock exchanges, and currency/cryptocurrency exchanges. The ease of breaking through identification security will facilitate money laundering and big financial frauds, threatening economic security for both consumers and investors.

Another matter of concern is the ethical use of such technology and its impact on cybersecurity and data privacy. While laws have been enforced globally to protect public data, the unethical use of such technology challenges the very concept of security in the cyber realm.

Governments have consistently tried to counter novel methods of security breaches, but innovators have managed to find ways around such safety walls. The very nature of technological innovation is solution-oriented; hence, every time authorities find ways to counter disruption, it leads to the modification and evolution of the previous technological model. As governments worldwide are struggling with linear growth in cyber security with the introduction of a wider
array of biometric identification, the need of the hour is to create tools to detect digital tampering of data. Disruptive technology is especially intriguing in its potential to be the solution for most of the problems it creates.