Artificial intelligence has advanced to the point where it can accurately replicate human voices, creating a potential crisis for financial institutions relying on voice authentication. At a Federal Reserve conference, OpenAI CEO Sam Altman warned that AI technology allows fraudsters to bypass security measures by imitating clients' voices. He expressed concern about banks still accepting voiceprints for financial transactions, emphasizing that this practice is no longer secure. As generative AI continues to evolve, Altman highlighted the urgency for financial stewards to adapt their interaction methods to prevent exploitation.
A thing that terrifies me is apparently there are still some financial institutions that will accept the voiceprint as authentication for you to move a lot of money or do something else, that is a crazy thing to still be doing ... AI has fully defeated that.
Just because we are not releasing the technology does not mean it does not exist. Some bad actor is going to release it—this is not a super difficult problem.
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