Zerodha CEO Produces Personal Deepfake Video to Alert Banks about AI Content Risk
Deepfake and AI-generated content have added to the fabric of social media platforms. Not only are we seeing more and more of this type of content, but there is also a growing concern that it is being used to promote malicious intent.
Several AI and industry experts have time and again warned internet users to be careful about what they encounter, and now Zerodha CEO and co-founder Nithin is warning people about the high risk of AI and deep-fakes and how it can affect financial institutions.
The rise of AI technology and deepfakes pose a large risk to the financial services industry.The tipping point for Indian financial services businesses was when onboarding became completely digital, thanks to Aadhaar, etc. For businesses onboarding a new customer, an important… pic.twitter.com/DI9Z1Q3jxY
— Nithin Kamath (@Nithin0dha) December 13, 2023
He says the “tipping point” for the same was when induction became digital. Simply put, digital means of identification like Aadhaar are now used to register new customers along with a few documents to verify if a person is genuine. At the same time, he notes that there are “checks to verify liveness and whether the other person is real or not,” but with advances in AI and deep fakes, it’s becoming increasingly difficult to confirm whether said person is real or not. Created by artificial intelligence.
Kamath further points out, “This problem is greater for banks that have more stringent regulatory requirements at the onboarding stage.”
Kamath in the video also drops a bomb when he asserts that the video of him talking about all this is itself a deep fake – adding to his claims.
His warning comes at a time when we’ve seen convincing deep fakes by prominent people like Rashmika Mandanna, Alia Bhatt and even Infosys. These deep fakes are primarily created to misinform people so that they fall victim to new scams and thus gain financial gain.
