Infibeam Avenues Ltd, a leading fintech company, has signed a strategic Memorandum of Understanding (MoU) with the Indian Institute of Sciences (IISc) Bangalore to develop cutting-edge real-time deepfake detection technology. This collaboration aims to enhance digital security for governments, corporations, and organizations by effectively identifying and preventing AI-generated deception.
As deepfake technology advances, it poses serious risks to businesses and individuals. AI-generated media can create hyper-realistic but false representations, leading to misinformation, cyber fraud, identity theft, and reputational damage. One alarming example occurred in January 2024, when a Hong Kong-based multinational company fell victim to a deepfake scam, losing $25 million (Rs 207 crore) due to fraudsters impersonating executives through a sophisticated video call.
To combat such threats, Infibeam Avenues Ltd’s AI unit, Phronetic.AI, will work closely with IISc to develop real-time detection solutions tailored for live video communication. The research will focus on selecting the most effective models to ensure high accuracy while maintaining cost efficiency at scale. With deepfake scams becoming more frequent, this initiative will play a crucial role in safeguarding businesses and government institutions from digital deception.
By leveraging IISc’s expertise in AI research and Infibeam’s technological capabilities, the partnership aims to create a robust defense mechanism against deepfake threats. The collaboration underscores the growing need for advanced cybersecurity measures to protect against evolving digital fraud.
