Generative AI tools like ChatGPT and Google Bard are some of the most exciting technologies in the world. They have already begun to revolutionize productivity, supercharge creativity, and make the world a better place.
But as with any new technology, generative AI has brought about new risks—or, rather, made old risks worse. Aside from the much-discussed potential "AI apocalypse" that has dominated headlines in recent months, generative AI has a more immediate negative impact: creating convincing phishing scams.
Cybercriminals create far more sophisticated scams with generative AI than traditional phishing scams. According to Visa research, scammers are fooling even the savviest internet users by launching pig butchering, inheritance, humanitarian relief scams, and triangulation fraud. Let's look at how.