The chatbots, equipped with Natural Language Processing capabilities, engage in believable conversations with scammers, effectively scamming the scammers themselves. With patents pending for this tech, Professor Kaafar and his team are determined to break the profitability of the scam-calling industry.
Phone scams, orchestrated by organised crime groups, often go unpunished, resulting in substantial financial losses for victims. Despite telecommunications providers' efforts to block scam calls, millions of Australians still fall prey to these scams. The rise of voice-over-internet protocol (VOIP) technology enables scammers to mask their location easily, making detection challenging and increasing the risk for victims. Professor Kaafar explains that scammers rely on a small percentage of successful scams to generate significant profits. By tying up their time and reducing successful scams, the AI chatbots disrupt their business model, making it harder for them to make money. The development of this technology comes at a crucial time, as the global phone scam trade continues to grow, with Australians alone estimated to have lost over $3.1 billion to scammers in 2022. The approach of using AI chatbots to deceive scammers offers a promising solution to chip away at their profits and protect vulnerable individuals from falling victim to fraudulent schemes. As patents are finalised and the technology progresses, the potential impact on reducing the profitability of phone scams is immense, marking a significant milestone in the ongoing fight against cybercrime. Ep 236 More on miteradio.com.au (press play)
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