The Rise of AI Scams

Author(s): Derrick Mwiti

Originally published on Towards AI.

Discover the biggest AI scams of 2024

This member-only story is on us. Upgrade to access all of Medium.

Some AI companies promised the future of AI, but instead delivered scams. And people lost millions. This article uncovers the dark truth behind how AI is being abused to deceive and ruin lives.

Artificial Intelligence is transforming everything from how we work, shop, and even how we make legal decisions. But with all this hype, some people couldn’t resist taking advantage. Instead of making life easier, they used AI to manipulate, defraud, and steal. Today, we’re diving deep into Operation AI Comply, a full-scale government crackdown on AI scams. We’ll expose five companies that scammed people using AI — and how these schemes fell apart, one by one.

AI scams — sounds crazy, right? How can something so cutting-edge, so futuristic, get twisted into some of the biggest frauds we’ve ever seen? Well, here’s the thing: AI is incredibly powerful, but it’s also new. And new technology? That’s prime territory for scammers.

Right now, the U.S. government is in a full-blown battle against these AI fraudsters. The Federal Trade Commission, or FTC for short, recently launched Operation AI Comply to stop the flood of companies using artificial… Read the full blog for free on Medium.

Join thousands of data leaders on the AI newsletter. Join over 80,000 subscribers and keep up to date with the latest developments in AI. From research to projects and ideas. If you are building an AI startup, an AI-related product, or a service, we invite you to consider becoming a sponsor.

Published via Towards AI