AI-powered
deepfake
technology
is
already
plaguing
the
business
world,
but
using
AI
can
lower
companies’
cyber
insurance
costs,
according
to
a
pair
of
surveys
flagged
by
Legal
Dive
this
week.
Deepfakes
are
AI-manipulated
images
and
messages
that
convincingly
mimic
real
people,
often
for
social
engineering
scams.
According
to
a
survey
of
over
1,500
U.S.
and
U.K.
finance
professionals
by
Medius,
53%
of
businesses
have
been
targeted
with
deepfake
scams,
and
85%
of
respondents
consider
them
an
“existential
threat”
to
their
companies.
But
the
news
isn’t
all
bad.
A
separate
survey
by
Delinea
found
that
half
of
U.S.
companies
use
AI
to
combat
scammers
through
practices
like
threat
detection
and
monitoring
—
and
that
this
is
lowering
their
insurance
costs.
“These
advanced
technologies
are
proving
instrumental
in
reducing
cyber
insurance
premiums,”
Delinea
wrote
in
a
news
release,
“offering
a
strategic
advantage
to
policyholders
in
an
environment
where
overall
insurance
costs
are
on
the
rise.”
Companies
lean
on
AI
in
push
to
curb
cyber
insurance
costs
[Legal
Dive]
Deepfake
scams
escalate,
hitting
53%
of
businesses
[Legal
Dive]
Jeremy
Barker
is
the
director
of
content
marketing
for
Breaking
Media.
Feel
free
to email
him with
questions
or
comments
and
to connect
on
LinkedIn.