According to an official release, artificial intelligence (AI) has witnessed a growth in recent years. It is believed that by 2030, the industry could add around $15.7 trillion to the global economy .
It is believed that a development around “deepfakes”, a highly realistic video and/or audio recordings created with AI that can mimic real human appearances or voices, often indistinguishable from their genuine counterparts, can pose a threat. Sources revealed that the rise of AI-generated deepfakes poses significant challenges to the existing Know Your Customer (KYC) paradigm.
“Perhaps KYC itself is the attack vector on self-sovereignty, and these [deepfake] tools are proving how today’s KYC systems could be rendered obsolete in the near future. A resilient solution would involve using certain cryptography properly to service the claimed intent of KYC proponents, thereby also protecting future generations,” Toufi Saliba, CEO, HyperCycle, explained.
Furthermore, Dimitry Mihaylov, an AI research expert for the United Nations, mentioned a future where dynamic and interactive verification processes can stand to become the norm, Cointelegraph concluded.
(With insights from Cointelegraph)
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