As Artificial Intelligence (AI) continues to evolve, the world is witnessing unprecedented advancements in technology. However, these advancements come with increasing risks, particularly in the area of digital impersonation and fraud. From deepfake videos mimicking business leaders to advanced phishing attacks mirroring trusted sources, AI-driven impersonation poses significant challenges to businesses, governments, and individuals.

Deloitte’s Center for Financial Services predicts that gen AI could enable fraud losses to reach US$40 billion in the United States by 2027, from US$12.3 billion in 2023, a compound annual growth rate of 32%. One report found deepfake incidents increased 700% in fintech in 2023, highlighting the vulnerabilities that sectors like finance are now confronting. For audio deepfakes alone, the technology industry is behind in developing tools to identify fake content.