London Futurists

Generative AI, cybercrime, and scamability, with Stacey Edmonds

Sep 20, 2023

Stacey Edmonds, an expert in cybercrime and artificial intelligence, discusses the increase in cybercrime fueled by Generative AI. They explore strategies for reducing 'scam-ability' and fostering trusted digital relationships. The podcast also covers the profitability and unreported instances of cybercrime, trust issues in mainstream media, and understanding 'scammability' in the future of cybercrime.

34:45

Episode guests

Stacey Edmonds

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Artificial intelligence is exacerbating the issue of cybercrime, leading to an enormous increase in cyber attacks and trillions of dollars being stolen by malicious actors.

Scammers are leveraging generative AI to create personalized and convincing scams, highlighting the need for critical thinking and upskilling in digital skills to protect individuals from falling prey to scams.

Deep dives

The Rise of Cybercrime and the Role of AI

Artificial intelligence is exacerbating the issue of cybercrime, which is on the rise. Organizations are experiencing an enormous increase in cyber attacks, with trillions of dollars being stolen by malicious actors. Scams, phishing, and imposter scams are prevalent, targeting both individuals and businesses. The bad guys seem to be winning this arms race, and the numbers continue to grow exponentially. There is a need for stronger governance and responsibility in the digital world to combat cybercrime.

Introduction

2min

Moving to Australia, Meeting in Sydney, and Rising Concerns About Cybercrime

2min

The Profitability and Unreported Instances of Cybercrime

17min

Trust Issues in Mainstream Media and Combating Misinformation

8min

Understanding Scammability and the Future of Cybercrime

5min

One of the short-term concerns raised by artificial intelligence is cybercrime. Cybercrime didn’t start with AI, of course, but it is already being aggravated by AI, and will become more so.

We are delighted to have as our guest in this episode somebody who knows more about this than most people. After senior roles in audit and consulting firm Deloitte, and the headhunting firm Korn Ferry, Stacey Edmonds set up Lively, which helps client companies to foster the culture they want, and to inculcate the skills, attitudes, and behaviours that will enable them to succeed, and to be safe online.

Stacey’s experience and expertise also encompasses social science, youth work, education, Edtech, and the creative realm of video production. She is a juror at the New York Film Festival and the International Business Awards.

In this discussion, Stacey explains how cybercrime is on the increase, fuelled not least by Generative AI. She discusses how people can reduce their 'scam-ability' and live safely in the digital world, and how organisations can foster and maintain trusted digital relationships with their customers.

Selected follow-ups:
https://www.linkedin.com/in/staceyedmonds/
https://futurecrimesbook.com/ (book by Marc Goodman)
https://cybersecurityventures.com/cybercrime-to-cost-the-world-8-trillion-annually-in-2023/
https://www.vox.com/technology/2023/9/15/23875113/mgm-hack-casino-vishing-cybersecurity-ransomware
https://www.trustcafe.io/

Topics addressed in this episode include:
*) Excitement and apprehension following the recent releases of generative AI platforms
*) The cyberattack on the MGM casino chain
*) Estimates of the amount of money stolen by cybercrime
*) The human trauma of victims of cybercrime
*) Four factors pushing cybercrime figures higher
*) Hacking "the human algorithm"
*) Phishing attacks with and without spelling mistakes
*) The ease of cloning voices
*) The digital wild west, where the sheriff has gone on holiday
*) People who are particularly vulnerable to digital scams
*) The human trafficking of men with IT skills
*) Economic drivers for both cybercrime and solutions to cybercrime
*) Comparing the threat from spam and the threat from deep fakes
*) Anticipating a surge of deep fakes during the 2024 election cycle
*) A possible resurgence of mainstream media
*) Positive examples: BBC Verify, Trust Café (by Jimmy Wales), the Reddit model of upvoting and downvoting, community notes on Twitter
*) Strengthening "netizen" skills in critical thinking
*) The forthcoming app (due to launch in November) "Dodgy or Not" - designed to help people build their "scam ability"
*) Cyber meets Tinder meets Duolingo meets Angry Birds
*) Scenarios for cybercrime 3-5 years in the future
*) Will a future UGI (Universal Generous Income) reduce the prevalence of cybercrime?

Music: Spike Protein, by Koi Discovery, available under CC0 1.0 Public Domain Declaration