Connect with us
European Gaming Congress 2024

Artificial Intelligence

Innovating Security: How FinVolution is Taking Next-Generation Technologies to Fight Deepfake-Driven Financial Crimes

Published

on

innovating-security:-how-finvolution-is-taking-next-generation-technologies-to-fight-deepfake-driven-financial-crimes

SHANGHAI, July 2, 2024 /PRNewswire/ — Deepfake technology, an artificial intelligence tool capable of generating convincingly fake audio and video, is increasingly being used to perpetrate financial crimes worldwide, raising serious concerns about sophisticated fraud.

In a notable incident reported by CNN earlier this year, a finance worker was tricked into transferring $25 million during a video call with an individual posing as the company’s chief financial officer (CFO), who was actually a deepfake. Such an incident has intensified fears about the vulnerability of financial systems to advanced fraud techniques.
Furthermore, global fintech platforms are confronting a rising wave of AI-driven criminal activities. FinVolution, a leading fintech company, has reported an increase in AI-generated attacks on its platforms, and has significantly invested in deepfake detection technologies to combat this threat.
Growing concerns
The increasing prevalence of deepfake technology in financial crimes has been underscored by a report from Sumsub, an identity verification provider. Its latest annual report revealed that identity fraud cases involving deepfakes have increased tenfold from 2022 to 2023. The situation in the Philippines is particularly concerning, with a staggering 4500% increase in attempted fraud schemes utilizing deepfake technology.
In China, identity fraud involving voice manipulation has outpaced facial deepfakes, with FinVolution intercepting over 1,000 such incidents in just a few months last year. Meanwhile, Southeast Asia is experiencing a surge in AI visual deception techniques, such as facial swaps, which pose new challenges to the security of digital financial services.
Lei Chen, vice president of FinVolution and head of its big data and AI division, emphasized the urgency of the situation. “Globally, the technology to detect fake voices is not keeping pace with the technology used to create them. We are pushing for advancements in AI that can detect these fakes, aiming to align these defenses with the capabilities of large-scale model applications,” Chen said. “Such efforts are vital for effectively safeguarding the security of public information and individual rights.”
Addressing the challenges
In an effort to combat these threats, FinVolution Group has heavily invested in developing voiceprint recognition anti-fraud solutions tailored for financial scenarios. 
The company has taken a proactive approach by introducing their proprietary voiceprint recognition algorithmic model, which has been commercially utilized two years before external open-source models. The model has gained recognition within a mere four seconds across millions of transactions. Moreover, it supports multiple languages, including Indonesian, Chinese, Spanish, and more, and holds a particularly strong position in Indonesian and Spanish markets.
FinVolution is also at the forefront of combating fraud in global financial markets with its tailor-made AI anti-fraud technologies. These cutting-edge services include advanced facial and document forgery detection and voice synthesis algorithms, which are integrated into apps of leading international brands.
By leveraging facial recognition and voice verification, these AI-driven tools play a crucial role in preventing illegal impersonation and bolstering the effectiveness of risk management strategies. Notably, in Southeast Asian markets, FinVolution’s technologies stand out by accurately identifying and intercepting financial fraud activities with generative AI, achieving a detection accuracy rate of over 98%.
Advocating for industry collaboration
In another proactive move to advance AI deepfake detection development, FinVolution is leading the charge in fostering industry collaboration. This includes hosting competitions and supporting academic research. For example, the company’s latest initiative — the 9th FinVolution Global Data Science Competition — zeroes in on deepfake speech detection and challenges global participants to leverage deep learning and AI adversarial techniques.
This competition targets the accurate identification of falsified speech generated by the latest large-scale models, with increasing difficulty levels reflecting evolving threats. Notably, this year’s competition has been featured as part of the International Joint Conference on Artificial Intelligence (IJCAI) 2024 challenges.
Looking ahead, FinVolution remains steadfast in its commitment to advancing deepfake recognition technologies, prioritizing user safety, and fostering a secure financial environment on a global scale.
About FinVolution Group
FinVolution Group (NYSE: FINV) is a leading fintech company that connects millions of consumers as well as small-sized enterprises with financial institutions.
Founded in 2007 and listed on the New York Stock Exchange in 2017, we have been at the forefront of the pan-Asian credit technology industry, pioneering innovative technologies in credit risk assessment, fraud detection, big data, and artificial intelligence. With a proven track record of robust growth in pan-Asian countries, we have established leading fintech platforms in China, Indonesia, and the Philippines.

View original content:https://www.prnewswire.co.uk/news-releases/innovating-security-how-finvolution-is-taking-next-generation-technologies-to-fight-deepfake-driven-financial-crimes-302187840.html

Continue Reading
Advertisement
Stake.com

Artificial Intelligence

Twelve Students from KIIT-DU Qualify for Paris Olympics

Published

on

twelve-students-from-kiit-du-qualify-for-paris-olympics

KIIT-KISS Founder announces Rs 7 lakh to each of the athletes 
BHUBANESWAR, India, July 19, 2024 /PRNewswire/ — In a big achievement for KIIT Deemed to be University (KIIT-DU), Bhubaneswar, 12 students have successfully qualified for the Paris Olympics 2024 beginning July 26, bringing pride and joy to the institution.

KIIT is the first university in the country to be sending the largest contingent of athletes among all universities in India.
The Founder of KIIT and KISS Dr Achyuta Samanta has announced Rs 7 lakh to each of the athletes, encouraging them to give their best in the field and bring glory to the country. 
The athletes who have earned their spots are — Amit Rohidas in Men’s Hockey, Kishore Kumar Jena in Javelin Throw; Parul Chaudhary in 3000m Steeplechase & 5000m; Priyanka in 20 km Race Walk & Marathon Race Walk Mixed Relay; Annu Rani in Javelin Throw; Jyothi Yarraji in 100m Hurdles; Tajinderpal Singh Toor in Shot Put; Abha Khatua in Shot Put; Prachi in the 4x400m Relay Team; Ankita in 5000m; Paramjeet Singh Bisht in 20km Race Walk and Suraj Panwar in the Marathon Race Walk Mixed Relay Team. 
Dr. Achyuta Samanta, Founder, KIIT & KISS, congratulated the proud contingent at a special programme in Bhubaneswar, saying, “Your hard work and dedication have brought you to this prestigious stage.” He declared Rs. 7 lakh cash support to each player. All 12 players, who are currently in various camps in different countries of Europe, joined the programme virtually. 
Informing the media, Dr. Samanta said that KIIT & KISS is the first organization in India to send the highest number of players to the Olympics. He also mentioned that KIIT & KISS has produced 20 Olympians and 2 Paralympians who represented India at the 2016 Rio Olympics, the 2020 Tokyo Olympics, and will be representing the country at the 2024 Paris Olympics. KIIT & KISS is proud to have 7 Arjuna Awardees, he added.
“We are happy that 12 students from KIIT are participating in the Paris Olympics 2024, making us and the country proud. Give your best and shine with your achievements. The entire KIIT & KISS family stands behind you, cheering you on”, he said.
Photo: https://mma.prnewswire.com/media/2464501/KIIT_DU_Qualify_for_Paris_Olympics.jpgLogo: https://mma.prnewswire.com/media/2234144/4513631/KIIT_Logo.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/twelve-students-from-kiit-du-qualify-for-paris-olympics-302201382.html

Continue Reading

Artificial Intelligence

eQ Technologic Elevates Industry Standards with Inaugural Customer Conference, exeQute

Published

on

eq-technologic-elevates-industry-standards-with-inaugural-customer-conference,-exequte

COSTA MESA, Calif., July 18, 2024 /PRNewswire/ — In an era brimming with industry conferences, eQ Technologic, Inc., the developers of the eQube®-DaaS Platform, is making a bold entrance with its inaugural customer conference, exeQuteSM, Oct. 7-10, 2024. Unlike other customer conferences in the data as a service (DaaS) industry, exeQute is set to stand out with a focus on actionable tactics tailored to meet the unique needs of its customers, reflecting the company’s deep commitment to customer-centricity and innovation.

As Gartner predicts that by 2027, 25% of CIOs will have compensation linked to their sustainable technology impact, exeQute’s conference is shaping the future of digital transformation with sustainability and responsibility top of mind. This conference goes beyond theoretical discussions, offering a hands-on experience where top brands share real-world solutions that attendees can immediately apply. This focus on actionable content ensures that every participant leaves with a toolkit of strategies to drive improvements in their business.
eQ Technologic’s dedication to understanding customer needs is evident in every aspect of exeQute. The conference sessions delve into the specific challenges faced by customers, offering personalized solutions and insights. This tailored approach showcases the company’s commitment to not just listening to its customers but collaborating with them to develop solutions that drive their success.
“Execution is one of our key operating principles at eQ. An organization’s ability to execute materially separates winners from the pack,” said Dinesh Khaladkar, President & CEO of eQ Technologic. “We strongly believe that the gap between the future and now is bridged by execution. The future doesn’t just happen, it must be defined, and actions must be taken to achieve it. It’s time to envision what lies ahead and act upon the future vision with exeQute.”
exeQute provides a unique platform for attendees to network with industry leaders, peers, analysts, and media, fostering a collaborative environment where new ideas and partnerships will enable the future growth of companies. The conference’s comprehensive approach to addressing both current challenges and future opportunities highlights eQ Technologic’s role as a catalyst for positive change in the industry by catalyzing cross-industry innovation and offering insight into how organizations leverage eQ’s industry agnostic solutions to gain and maintain a competitive advantage.
exeQute is not merely another event in the crowded conference landscape. It is setting a new standard for customer engagement, providing value through actionable insights, innovative solutions, and a steadfast commitment to sustainable practices. For those seeking to navigate the complexities of digital transformation responsibly, exeQute is an indispensable resource, reinforcing eQ Technologic’s position as a leader in the industry. With executives and decision-makers from some of the world’s leading organizations, the conference will unravel future trends, disruptive technologies, and emerging opportunities. Power-packed with keynotes, success stories, product roadmaps, demos, fireside chats, and more, the conference furthers eQ Technologic’s position as a leader in the industry.
Conference details:
VEA, A Marriott Resort & Spa, Newport Beach, California Oct. 7-11, 2024 Agenda, speakers, sponsorship opportunities, and registration information can be found at exequteconference.com.
About eQ Technologic
Over the past two decades, eQ has been instrumental in accelerating digital transformation across industries such as Aerospace & Defense, Department of Defense, Automotive, Energy, Heavy-Machinery, Electronics, High-Tech, Electronics, Consumer Packaged Goods (CPG), and more.
The Low/No-Code eQube®-DaaS (Data as a Service) Platform establishes a Data Fabric with a connected network of integrated data, applications and devices that puts the power of analytics in the hands of end users, leading to Actionable Insight. eQ’s 100+ OOTB plug and play Connectors connect disparate heterogeneous systems in an instant, empowering organizations to work with any data, any format, any API, any speed, with any system, any application, and any device without writing any code. It enables secure, scalable, and robust information collaboration while honoring security rules. This enables eQ to offer solutions like Digital Thread, CLM (Closed Loop Manufacturing), Multi-PLM Solutions, For-purpose Apps, API Factory with Common Data Model, and many others.
Some of eQ’s marquee customers include Lockheed Martin, Northrop Grumman, US Navy, Rolls-Royce, Collins Aerospace, Pratt & Whitney, Adient, ULA, Moog, Micron Technologies, Boeing, General Electric, Siemens Energy, Panasonic, EDF, and General Dynamics to name a few.
Photo: https://mma.prnewswire.com/media/2460249/exeQute_2024.jpgLogo: https://mma.prnewswire.com/media/2460250/eQ_Technologic_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/eq-technologic-elevates-industry-standards-with-inaugural-customer-conference-exequte-302201096.html

Continue Reading

Artificial Intelligence

Research Solutions Announces Partnership with Jisc to Enhance UK Higher & Further Education Research

Published

on

research-solutions-announces-partnership-with-jisc-to-enhance-uk-higher-&-further-education-research

This highlights Research Solutions’ commitment to improving the quality and accessibility of scientific research for academic institutions.
HENDERSON, Nev., July 18, 2024 /PRNewswire/ — Research Solutions (NASDAQ: RSSS), a trusted partner providing cloud-based workflow solutions to accelerate research for R&D-driven organizations, is proud to announce a significant partnership with Jisc, the UK digital, data, and technology agency focused on tertiary education, research, and innovation.

This collaboration will make Scite’s award-winning AI platform more affordable and accessible for more than 280 higher education and research institutions in the UK. It aims to advance research quality by leveraging ethical AI technology.
Scite, now part of the Research Solutions family, is transforming the discovery and evaluation of scientific articles through its innovative Smart Citations and AI Assistant. This advanced technology allows researchers to gain deeper insights into the impact and relevance of scientific work.
Beyond its powerful discovery search capabilities across over 187 million publications, 2 billion references, and 1.3 billion citation statements, Scite offers unique workflows for identifying editorial concerns and providing instant reference analysis through its Reference Check feature. The platform also enables the creation of integrated dashboards with reference library tools and validates large language models, assisting in the creation of structured literature reviews via Scite Assistant.
Scite is utilized by researchers and institutions worldwide, underscoring its global impact and commitment to advancing scientific research and innovation.
“We’re thrilled to be partnering with Jisc to make Scite more readily available to the Higher Education institutions in the UK,” states Josh Nicholson, co-founder of Scite and Chief Strategy Officer at Research Solutions. “By bringing context to citations, we can provide a better way to discover, understand, and evaluate research, something that is critically needed in the world today.”
Jisc’s endorsement of Scite highlights the platform’s value in delivering accurate, insight-rich research tools to prestigious institutions such as the University of Manchester and the University of Exeter. Research Solutions is delighted to extend services to additional UK educational institutions and looks forward to making significant contributions to the academic landscape.
For more information on how Jisc is enhancing lives through the digital transformation of education and research, visit their website here. To learn more about how Scite and Research Solutions are providing universities and libraries with tools to elevate their academic work, click here.
About Jisc
Jisc’s vision is for the UK to be a world leader in technology for education and research. It owns and operates the super-fast national research and education network, Janet, with built-in cyber security protection. Jisc also provides technology solutions for members (colleges, universities, and research centres) and customers (public sector bodies), helps members save time and money by negotiating sector-wide deals and provides advice and practical assistance on digital technology. Jisc is funded by the UK higher and further education and research funding bodies and member institutions. For more information, contact [email protected] or 07443 983571.
About Research Solutions
Research Solutions, Inc. (NASDAQ: RSSS) provides cloud-based technologies to streamline the process of accessing, managing, and creating intellectual property. Since its founding, the company has been a pioneer in developing solutions to serve researchers. Today, more than 70 percent of the top pharmaceutical companies, prestigious universities, and emerging businesses rely on our family of products, powered by AI and NLP technologies, to support the innovation process from end to end with the most comprehensive information and knowledge tools on the market. For more information and details, please visit www.researchsolutions.com.
SOURCE Research Solutions, Inc. | LinkedIn | Facebook | X 
Photo – https://mma.prnewswire.com/media/2464599/rsxjisc_100_1.jpgLogo – https://mma.prnewswire.com/media/2464612/4819343/research_sol.jpg

View original content:https://www.prnewswire.co.uk/news-releases/research-solutions-announces-partnership-with-jisc-to-enhance-uk-higher–further-education-research-302200973.html

Continue Reading

Trending