AI-generated content raises risks of more bank runs, UK study shows

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The story "AI-generated content raises risks of more bank runs, UK study shows" was covered 1 weeks ago by Channel News Asia, a news publisher based in Singapore.

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AI-generated content raises risks of more bank runs, UK study shows - Channel News Asia

Quick Summary:

PARIS : Fake news generated by artificial intelligence and spread on social media is heightening the risks of bank runs, according to a new British study that says lenders must improve monitoring to detect when disinformation risks impacting customer behaviour.

The estimate was calculated by using average deposits held by UK customers, the cost of social media adverts, and estimates for how many people would see them.

Asked about the study, Revolut's head of financial crime, Woody Malouf, said the London-based fintech conducts real-time monitoring for emerging threats among its customers and "across the broader ecosystem".