Banks must fight deepfakes with better AI, Barr says

Banks must fight deepfakes with better AI, Barr says

In the face of increasing generative AI-based deepfake attacks, banks must fight fire with fire and invest more in artificial intelligence themselves, Federal Reserve Gov. Michael Barr said Thursday.

Banks must evolve their use of AI to thwart deepfake attacks with the use of facial recognition, voice analysis and behavioral biometrics, he said during a New York Fed event, and technical solutions can be used to detect subtle inconsistencies…

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