AI-created disinformation could bring down banks
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A new report by UK analyst firm Say No to Disinfo and communications firm Fenimore Harper indicates a high risk that AI-generated disinformation could create bank runs that could bring down financial institutions, according to Reuters.In an experiment, a number of UK customers were shown AI-generated rumors about their bank. Afterwards, a third said they were very likely to withdraw their money, with 27% saying they were quite likely to do so.According to the report, spending as little as 10 (about $12.60) on a fake AI message would be enough to persuade customers to withdraw more than $1 million from the bank in question.Two years ago, false rumors that spread on social media sites about Silicon Valley Bank led customers to withdraw $42 billion in one day. The bank ended up being closed down.
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