During the Federal Reserve conference, Sam Altman, the CEO of OPENAI, spoke about AI voice cloning. He warned that it could pose a risk to global banking security. Shortly, Sam Altman gave this as a warning at the conference. In today’s world, AI can easily mimic voices. Just a few seconds of audio can trick people. Calling it “crazy” that financial institutions like Banks still use voiceprint authentication. This worries Altman. He urged banks to quickly update their security systems, use strong passwords, enable multi-factor authentication, and stay alert to cyber threats. If they don’t, people may soon face a serious fraud crisis.

Sam Altman, CEO of OpenAI, also said that voice authentication by the banks is “Terrifying.”

A report from Business Insider says that Altman spoke at a conference. He mentioned that the world is relying more on old authentication methods. He noted that AI has outsmarted these methods. This change has made it easier for scammers and hackers to copy voices and bypass security. What made him terrified was that “banks will still accept a voice print as authentication for you to move a lot of money or do something else,” said Sam Altman.

To avoid this fraud crisis, he suggested improving the verification and security system. This can be done by switching from old systems to multi-factor authentication. He also predicted that video cloning will be the next big thing. Society must rethink how we verify identity in a world driven by AI. All he meant to share was that the danger is not just limited to the audio.

Soon, in the upcoming days, scammers will be able to create video clones. He warned that video clones could create a “virtual or simulated experience.” This experience could be so realistic that it is hard to tell it apart from the real world. This will make it much harder to verify true identities. He advised the Banks to rethink the authentication system and make an adaptation to high security.

Sam Altman on his greatest fear for large-scale financial attacks

At the Federal Reserve conference, there was a Q&A session. During this time, Altman shared one of his biggest fears: “LARGE-SCALE FINANCIAL ATTACKS.” He explained a scenario in which an enemy, possibly a foreign nation, might employ powerful AI. This AI could “break into financial systems and take everyone’s money away.” He stated it would be very difficult to defend against such an attack. This is especially true if the enemy’s AI is better than our current defences.

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