WASHINGTON (AP) — Open AI CEO Sam Altman warns of a looming fraud crisis in the financial industry due to AI’s ability to mimic voices. Speaking at a Federal Reserve conference on Tuesday, Altman criticized financial institutions still using voiceprints for authentication. He called this practice outdated, as AI can now create voice clones that are nearly indistinguishable from real voices. Voiceprinting became popular over a decade ago for wealthy clients but is now vulnerable to AI-driven fraud. Altman emphasized the need for new verification methods. The central bank’s top regulator Michelle Bowman suggested exploring partnerships to address these challenges.
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