Artificial intelligence is a tool. Like a hammer, wrench or any other tool, AI can be used to build up, tear down or both. That’s something to keep in mind when considering how AI affects customer experiences, bottom lines, brand reputations and more.to replace the traditional, tedious security gauntlet with a quick, easy experience. Speech and facial recognition free customers from having to remember and enter PINs, passwords and account numbers.
But hackers and fraudsters are increasingly using AI to enable new attack vectors. Some exploit the AI-powered systems implemented to provide better customer experiences. For example, AI-generated deepfakes target biometric authentication systems, withBiden Says Supreme Court Immunity Ruling Sets ‘Dangerous Precedent,’ In Brief Remarks
One common safeguard is using AI to identify suspicious activity and then using text messages to warn affected customers. This strategy also highlights the importance of a multimodal approach for KYC processes.