Making cybersecurity a top priority for companies is now a non-negotiable issue. That's why Pindrop releases quarterly Insider Sessions to help teams stay informed and ensure they're supported with the latest innovations.That event was called our Product Showcase CFX Spring Summit 2024 On March 20th, we'll cover deepfakes, protection, and authentication.
Several themes emerged at the event, including the emerging emergence of deepfakes and how easy they are to create. Protection and authentication methods are now top priorities for many companies. according to Report by McKinsey40% of business respondents are expected to make further investments in AI and cybersecurity, and 28% have already made AI and cybersecurity a hot topic on their business agenda heading into the new year.
Approximately half of event attendees want to implement a deepfake solution within the next six months, and 74% want to implement a deepfake solution within the next 12 months. At Pindrop, clients who were excited about these insider sessions were also able to view the year's product showcase.
Here we will introduce the top-ranked themes.
- Ensure training is built into innovative cybersecurity software
In 2023, small businesses spent the most time training per employee, totaling around 59 hours. Large US companies increased investment in employee training from 2017 to 2020. However, these training time investments have since declined. Our innovative technology team is currently looking for technologies that can help alleviate this increase in training time by implementing more creative solutions. At a recent event, 40% said they were open to using Pindrop's new Gen AI to assist with case reviews, and an additional 40% said they would require their organization to train the model. The team is currently looking for a solution that won't overly burden implementation. - Find chat fraud prevention solutions
We were surprised to learn that 50% of participants did not have a chat feature in their call center and 31% did not have a fraud prevention solution for chat. There appears to be a gap and a strategic advantage for companies looking to solve this problem. According to a Federal Trade Commission (FTC) report, US consumers lost $330 million to fraudulent texts last year, up from $131 million in 2021 and $86 million in 2021. Did. 2020. Two-way chat also exists in most call centers. If 81% of participants believe that chat is not supported for medium or high risk transactions, this is alarming and needs to be addressed in the market for future support. - Easy to implement with legal compliance
47% of participants were ready to use a Gen AI solution, and 53% wanted an in-house developed solution or expected some headwinds from their legal team. Having an in-house legal department makes communication easier. It also helps protect your business from costly lawsuits, scams, and scams. When more than half anticipate interest from legal teams for intelligent solutions, it makes sense to implement and adopt software that facilitates processes for legal teams. - Voice spoofing detection becomes a competitive advantage
65% of participants are willing to allow audio access for Pindrop calls to improve impersonation detection. About half believe they would support high-risk transactions in chat if there was an accurate way to detect fraud. Predictions from thought leaders at CrowdStrike, Intel 471, LastPass, and Zscaler predict how this technology will be used, abused, and leveraged in surprising ways. Next year. Computer scientists at the University of Waterloo have discovered an attack method that can bypass voice authentication security systems with up to a 99% success rate in just six attempts. Previously, this was much easier to catch. However, in a recent article in Speech Technology Magazine, Wakefield Kahl notes that “AI is being used to circumvent traditional voice biometric authentication.”
Next steps: Pindrop advice on how to stay on top of the latest cybersecurity trends and protect your company
The right technology and fraud solutions can make or break your company's brand and prevent employee burnout. PIndrop's cybersecurity solutions help you avoid overburdening your team with training and creating legal complications. We were pleased to host our recent event to elevate and address these key issues and trends facing businesses today when it comes to fraud and how AI is used to harm businesses. Masu.
Now that nearly anyone can interact with AI and voice biometrics in minutes using generative AI, more intelligent software can help your team reduce risk and proactively detect fraud. Masu.Dig deeper into how your products are liked pulse Acting as a co-pilot for your business and preventing fraud within chat can make a big difference.
schedule a time To learn about the innovations highlighted at CFX Spring Forum, contact us for a consultation.
