Online safety in the era of AI (Artificial Intelligence)

Chances are, you’ve been hearing a lot about Artificial Intelligence (AI) lately. No matter what you know or think about it, AI is becoming a part of our lives. Revolutionizing many aspects of the way we process information, disseminate data and problem solve, it is a powerful tool for developing medical, education, business, and financial strategies.

In the right hands, AI can be an effective way to reach solutions more quickly and efficiently. In the wrong hands, AI can make it easier for cybercriminals to steal your money and/or identity by fooling you into providing critical financial data.

AI is emerging and there’s still a lot to learn about what it is, how it’s used, and the possible dangers of its abuse.

What is AI?

AI is actually not new. Computer scientists first used the term in the 1950s. But it’s only over the last few years that AI has reached the level of sophistication to become a tool throughout business and society.

In simple terms, AI is a science that allows computers to comb through and absorb massive amounts of data, analyze that data set, and then use it for problem solving at a scale beyond human ability. AI utilizes programmed algorithms to devise complex systems, make predictions or build classifications based on the data it has accumulated.

As amazing as that all sounds, there is one part of the equation AI cannot do — generate the question or idea to set the wheels in motion. It needs people to do that.

What are we using AI technology for these days?

Some may say that the most common use of AI is a chatbot, a computer program designed to engage in conversation. Ask a question and it will respond. Examples include ChatGPT, Jasper, YouChat and the new Bing, an app powered by OpenAI (the company that created ChatGPT), now available on the Bing search engine.

But you may be surprised by the other ways AI is impacting your life.

• Hey, Alexa, what is AI? — “Why, that would be me.” If you are using a digital assistant such as Alexa or Siri, you’re interacting with AI.
• Got GPS? — If you rely on a navigational app to get you from point A to point B, you’re using AI.
• I’m taking an Uber instead — AI is still involved. This is how the ridesharing app figures out how much your trip will cost and how long you’ll wait before your driver appears.
• Put on a funny face — Every time you use a social media face filter to turn your photo into an LOL moment, you’re using AI.
• Tag, You’re It — Facebook also utilizes AI facial recognition to scan the photos you upload. When the program recognizes the face of a friend, it tags the photo with his or her name.
• AI in your Inbox — Yes, there’s even an AI element in your email. Many email services incorporate an AI algorithm to recognize scam messages and separate them from important communiques.

But AI has its limitations

An AI-power system is only as good as the data it collects. And as many of us know, you can’t believe everything you see online.

As a result, AI doesn’t comprehend if the information it’s providing is true or false.

AI also doesn’t understand context. It just provides information; it can’t offer conclusions based on it.

And that’s why it isn’t recommended to use AI tools to make any key decisions — most importantly — those involving financial strategies.

AI can also be used fraudulently

Are you aware of social engineering? It’s a method of manipulating people into revealing sensitive information about themselves or their organization. As technology advances, so does the art of sophisticated tactics and deception to commit cybercrimes.

Scammers realize that AI is a potent tool. Bank customers are a favorite target for scams through phone calls, emails and text messages.

Here are some AI hustles designed to separate you from your money:

• Voice cloning — AI can create an audio recording of a loved one that is virtually undetectable from the real person. This recording is then used to trick a victim into believing that person is in trouble — kidnapped, in jail, in an accident — and money is needed to help out. Typically, the bad actor asks that the money be wired or sent in the form of gift cards, making it harder to trace.
• If it sounds too official, it may be a scam — Fraudsters are also using AI to create voice mails, emails or texts purported to be from a key person from a financial institution, such as the CFO or CEO. When you respond, the goal is to get you to part with login data or personal information.
• The perfect phish and smish — AI programs perform one task criminals aren’t very good at — creating convincing, well-written, grammatically correct scam emails and texts. They look so real, it’s easy to be fooled. If you respond, that is exactly what might happen. Keep an eye out for unexpected emails or texts requesting personal information, passwords or other log-in credentials.
• AI-generated content — AI can create content designed to get your blood boiling. It could be in the form of a fake news or political story or a slanderous social media post. Hopefully, it will rile you up enough to click on an adjoining link that leads to a fraudulent website and malware.
• AI-generated job listings — Scammers craft too good to be true job listings, encouraging the reader to click on a link that leads to trouble.
• The blackmailer — AI-generated deepfake images or videos of an explicit nature is another scam on the rise. Victims are blackmailed into sending money under threat that these embarrassing deepfakes will be sent to friends and families.
• The robot romancer — AI chatbots initiate text and email messages for those looking for love on the web. So lifelike, these chatbots have the potential to carry on intimate exchanges with thousands of targets, increasing the odds of finding victims willing to part with their money.

Becoming AI smart

As AI’s presence grows, so does our responsibility to learn its advantages and risks.

• Be watchful about AI financial tools. Citizens cautions against entering personal information or key financial information into an AI tool. It may put your data at risk.
• Don’t install an AI tool that you didn’t directly solicit.
• Scrutinize emails, text and any online posts that seem suspicious. Use other sources to verify the information.
• Let calls from unknown numbers go to voicemail. You can always return the call if it’s someone worth calling back.
• Protect yourself from voice cloning by establishing a safe word with close friends and family. If the caller can provide that word, you know you are speaking to the real person.
• Think twice and double-check the source before clicking a link.

Here’s to a bright AI future

AI is changing the world. Make sure it’s a change for the better. You should take full advantage of AI’s benefits while keeping vigilant to its pitfalls. And the best way to do that is by staying smart and protecting yourself. For more cybersecurity tips, check out our Cybersecurity Hub.

Remember it’s artificial intelligence. You’re the one with the real smarts.