In an era where artificial intelligence (AI) is revolutionizing industries, the importance of trust has never been greater. This is especially true for tech companies, enterprises, and other businesses navigating the complex digital landscape. According to the 2024 Telesign Trust Index, concerns about digital privacy and the ethical use of AI are at the forefront of many consumers’ minds.
If we look at AI headlines in the news recently, there is certainly reason for concern. While AI holds great promise for change, in the wrong hands, there is also the potential for it to be used in destructive ways, especially as it relates to fraud. According to the State of Phishing 2023 report, fraudsters are using AI tools to streamline fraud and cyberattacks, leading to a 1,000%+ increase in phishing since ChatGPT launched.1
At Telesign, trust is an essential part of our DNA. It is one of our core values that we hold dear. We believe the future is built on trust and we want to partner with our customers to help foster safe spaces where fraud has no place. As part of this charter, we’re constantly looking at the evolving tech landscape for new ways to fight fraud and believe AI and machine learning (ML) can be leveraged to help build digital trust.
2024 Telesign Trust Index: trust in the AI era
The 2024 Telesign Trust Index is based on a survey of adults across the United States, United Kingdom, Singapore, and Brazil. A subset of those interviewed have been victims of digital fraud within the past three years. The survey reveals significant insights into consumer attitudes toward AI and its impact on trust in the digital world. Highlights from the report include:
- Consumer expectations and attitudes toward AI: Many consumers are unsure about how AI is being used, particularly in terms of digital privacy. At the same time, they expect that brands they do business with should be responsible for helping to protect them.
- AI content concerns: With a record number of voters heading to the polls in 2024, there’s heightened concern about increased AI-generated content, including deepfakes, potentially undermining election confidence.
- Ethical AI: There’s a growing emphasis on the ethical use of AI and machine learning (ML) to combat digital fraud, hacking, and misinformation.
The role of AI in fraud
One of the most critical applications of AI is in protection from fraud. The rise of generative AI has led to a surge in account takeover attempts and other fraud-related activities. However, AI can also be a powerful tool in combating these challenges. The report highlighted:
- Consumer expectations: Nearly 87% of Americans believe brands are responsible for protecting their digital privacy.
- Ambivalence toward AI: Surprisingly, 44% of U.S. respondents think AI/ML will have no impact on their susceptibility to digital fraud, despite the upward trend of account takeover attempts and other fraud attacks fueled by generative AI.
This ambivalence highlights a gap in understanding the potential of AI to enhance security measures. Companies must educate their customers on how AI-driven solutions can help protect their digital identities.
AI and election integrity
With more voters than ever heading to the polls, the potential misuse of AI in elections is a significant concern. The report found:
- High levels of concern: 72% of voters worldwide fear AI-generated content will undermine upcoming elections.
- Exposure to AI-generated content: In the U.S., 45% of respondents reported seeing an AI-generated political ad or message in the last year.
These findings call for robust measures to ensure the integrity of electoral processes. Implementing AI for good—such as detecting and preventing fraudulent activities—can help build trust in digital voting systems.
AI and misinformation
Misinformation, particularly from deepfakes and voice clones, is another area where AI poses a significant challenge. The report reveals:
- Widespread concern: 81% of Americans believe misinformation from deepfakes negatively affects election integrity.
- Higher exposure among fraud victims: Fraud victims are more likely to believe they have been exposed to deepfakes (21%).
Businesses and governments must prioritize the use of AI to detect and mitigate the spread of misinformation. This involves implementing secure protocols and enhancing user verification processes.
A recipe for building digital trust in business
The Telesign Trust Index underscores the need for businesses to prioritize trust in their digital strategies. Here are some actionable steps you can take:
1. Implement AI for good
Use AI and ML technologies to enhance existing security measures and combat digital fraud. This includes pursuing:
- Advanced fraud detection: Leverage AI to identify suspicious activities and prevent account takeovers.
- Secure user verification: Enhance authentication processes to ensure the legitimacy of user accounts.
At Telesign, our Verify API solution offers seven verification channels in one turnkey solution so you can customize your verification experience by market need, customer preference, or business priority. In addition, our Intelligence API uses machine learning to analyze phone numbers, email addresses, IP addresses and more, and can be paired with Verify API to help identify red flags based on phone number activity and patterns. Learn more from our CEO, Christophe Van de Weyer, about Why AI is the Best Defense against AI-Enabled Fraud Attacks.
2. Educate consumers
Bridge the gap in consumer understanding by educating them on how AI-driven solutions can protect their digital identities. Transparency in AI usage builds trust and fosters customer loyalty.
3. Engage in active communication
Communicate proactively with your customers about the measures you’re taking to protect their digital identities. Regular updates and transparent communication build confidence and trust.
The role of trust in the age of AI
The 2024 Telesign Trust Index highlights the critical role trust plays in the AI era. As AI continues to evolve, businesses must prioritize trust and security to protect both personal and organizational data. By leveraging AI for good, educating consumers, and adopting active communication practices, companies can build a more secure and trustworthy digital environment.
At Telesign, we are passionate about building trust with our customers and empowering them with fraud-fighting solutions. Through our Continuous Trust™ Authority initiative, we strive to help make the digital world safer for everyone.
Ready to build trust in your digital operations? Discover how Telesign’s AI-driven solutions can help you combat fraud and secure your digital interactions. Contact us today.
