Coming up this week:

- Hong Kong: $25M Deepfake Scam
- Bumble: No More Fake Profiles
- OnlyFake: Fake IDs For $15
- Microsoft: Copilot’s New Look
- Create a Business Using MidJourney

And much more… Learn how these unfolding narratives are shaping The Business of AI.

FEATURED STORY 🔥

Multimillion-Dollar Deepfake Scam Hits Hong Kong Finance Professional

A finance professional in Hong Kong was conned out of $25 million by scammers using a deepfake video of his company's CFO. 

During a video call, the employee was initially suspicious of the CFO's slightly altered appearance but was reassured when familiar colleagues seemed to join the conversation. Urged by the fake CFO, the victim made 15 transfers to five different bank accounts.

The scammers had crafted the AI-generated videos from previous legitimate conferences and bolstered the ruse with WhatsApp, emails, and one-on-one video chats. The fraud was only uncovered after the victim contacted the company's head office.

This incident, reported by The Standard, marks Hong Kong's first deepfake video conference scam. Hong Kong police have also arrested six individuals in relation to similar deepfake scams.

Read More

eBook: Scaling Your Compliance Program

Do you need to add more security frameworks to your existing compliance program, but don’t know where to start? Scaling your compliance program can feel like you’re proving your security from scratch. It doesn’t have to. 

Vanta’s ultimate guide to scaling your compliance program shares strategies and best practices for adding compliance standards without adding to your workload. 

Learn how to scale, manage, and optimize alongside your business goals.

TRENDING STORIES 🔥 

Bumble's AI Fights Fake Profiles

Bumble introduces Deception Detector, an AI feature targeting fake profiles and scams. It automatically blocked 95% of suspicious accounts and reduced user-reported fraud by 45%. This innovation aligns with Bumble's mission to create genuine connections and address safety concerns, especially among women. The app continues to enhance user trust with AI and human moderation.

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Microsoft Unveils Revamped Copilot AI

Microsoft announced a new look for its Copilot AI, including AI image creation and editing, and introduced Deucalion, a new AI model. The updates, showcased in a Super Bowl ad, emphasize Copilot's capabilities beyond web search, offering content and software creation tools. The features are available in English across five countries, with plans for further expansion.

Read More

OnlyFake: New Threat in Cyber Fraud

An underground site, OnlyFake, uses neural networks to create realistic fake IDs for $15, disrupting the fake identity market. The IDs, verified by 404 Media, can fool online verification systems, including a cryptocurrency exchange. This service marks a shift from traditional, labor-intensive fake ID creation to instant, mass-produced digital forgeries.

Read More

Image Of The Week 📷️ 

MidJourney and Dall-E are cool - but what about using it to create a business?

Adobe Stock sells stock images to individuals and businesses. Their model is fairly simple - artists upload images and users pay to download them. They offer a 33% royalty to the artists when their image sells.

BUT they also accept AI-generated images.

According to this article, you could earn between $0.33 and $26 per image sale. Not bad for a few minutes prompting MJ or Dall-E.

Schieler Mew has taken this idea a step further and launched his own stock image platform (Stock MJ) where he is selling AI-generated images for $4.99 per month:

Our Top Tip: Want to use this method to make money? Start with these categories of images as they are the most popular on stock image sites:

1. Landscapes Images that Inspire Wanderlust

2. Modern Work Environments and Office Spaces

3. Candid moments of family and friends

4. Top-down food images

5. Model-released travel images

EYE OPENING NEWS 🧠 

Roblox Launches Real-Time AI Chat Translation

Roblox introduces AI-powered real-time chat translations, enabling users speaking different languages to communicate seamlessly. The system supports 16 languages with near-instant translation, fostering global connections within its virtual experiences. This innovation aims to enhance engagement and inclusivity among its 70 million daily users.

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Microsoft's AI Push in Journalism

Microsoft is partnering with news organizations to integrate AI into journalism. They're focusing on responsible AI use in news gathering and business, offering training for journalists, and developing tools for efficient newsroom operations. Collaborations include Semafor, CUNY, ONA, and The GroundTruth Project, aiming to enhance reporting, audience reach, and sustainability in newsrooms.

Read More

OpenAI Crafts Task-Automating Agents

OpenAI is developing agent software designed to automate web-based tasks on user devices. These tasks include data collection, itinerary planning, and booking flights. Known as "agents," these assistants aim to execute complex personal and professional tasks with minimal human oversight. OpenAI, known for ChatGPT, has yet to comment on this advancement.

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LinkedIn Unveils AI Job-Hunting Tools

LinkedIn introduces AI-powered features to assist job seekers, using OpenAI technology. Users can assess job fit and enhance profiles with the new tools, which provide bullet-point advice and answer queries about roles, company culture, and industry. The features aim to simplify the job search process and are currently in beta testing.

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Meta to Label AI-Generated Content

Meta announced plans to label AI-generated images on Facebook, Instagram, and Threads to enhance transparency. An automated system will detect AI markers, with future aims to identify videos and audio. Users must disclose AI use in "photorealistic" content, facing penalties for non-compliance. The initiative addresses concerns about deepfakes and misinformation.

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Poll Of The Week 💗 

Last week’s poll results:

Would you get a Neuralink brain chip implanted?

🟩🟩🟩🟩🟩🟩 Yes

🟨🟨🟨🟨⬜️⬜️ No

5 Tools to Boost Your Productivity

- Generate personalized visually stunning stories in just one minute. Dorosi
- Generate videos from simple text in one minute. Moonvalley
- Craft social media posts and art, in just seconds with AI. Questgen
- Generate high-quality, engaging content 10x faster. Vidiofy
- Chat, generate, and design without limits using Generative AI. Venturus AI

Want your tool featured here? Hit reply and tell us a little about it 😍 

FUNDRAISING 🤑 

Sema4.ai: $30.5M for AI Expansion

Sema4.ai raised $30.5 million to enhance AI in enterprise work. The investment will fund the acquisition of Robocorp, advancing human-AI collaboration. A new AI Actions framework is also launched, promoting secure, intelligent automation.

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AQEMIA: €60M Series A Funding

AQEMIA, a drug discovery firm, announced an additional €30 million investment, doubling its Series A to €60 million. The funds will boost its AI-driven drug development and expand its proprietary pipeline, with several projects already in animal testing.

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Finally: $10M for SMB Solutions

Fintech startup Finally raised $10 million to enhance its automated accounting services for small and medium businesses. The funding will fuel hiring, product expansion, and the development of mobile apps, reinforcing its position as a comprehensive financial management platform.

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Starship: $90M for Expansion

Starship Technologies, an autonomous delivery robot start-up, has raised $90 million to expand in the US, UK, and Europe. The funding will enhance AI and charging tech for its robots, which have completed over six million deliveries.

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Colossyan: $22M Series A Funding

Colossyan, an AI video platform, has raised $22 million in Series A funding. The investment will enhance product features, expand the team, and introduce interactive learning tools. This follows a year of 600% growth and significant cost savings for clients.

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