FTC Vows To Take Action Against Firms Misusing AI For Frauds And Scams

The leader of the American Federal Trade Commission has vowed to pursue diligent and swift actions against companies misusing AI technology.

The news comes after the top agency issues a statement speaking about its crackdown on Tuesday against organizations that violate laws through AI misuse and help carry out discrimination and deception.

The huge surge in popularity of this endeavor has led to more calls for regulation due to concerns surrounding the ordeal. Moreover, we’re seeing them make more use of innovation for all types of wrong behavior as so many organizations are trying hard to seek ways to better efficiency.

As a part of a recent hearing, the FTC Chair and several other commissioners went into detail about how concerned they were at the sudden surge in the innovation of AI technology which may be used to put out the best deep fakes in the industry and also be used to set out more scams and break laws.

So many enterprises are using this mechanism throughout their algorithms and hence would not be allowed to go against the FTC’s designated policy or rules that promote unfairness and deception.

No algorithms would be allowed to function as black boxes in the industry and this behavior would be dealt with using a zero-tolerance mechanism. So many newer variations of AI are in the market and their capabilities can’t be underestimated. This includes saying hello to a surge in frauds and various other scams and any type of wrongdoing as well.

This puts people on the hook regarding actions against the FTC and would similarly hold the accountable for malicious practices.

For years, the FTC says it has been forced to alter its policies and step up its game to evade the mega risks that technology brings with it. And this seems to be no exception to the norm.

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