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Quantum Computers Take a Major Step With Error Correction Breakthrough – Singularity Hub

For quantum computers to go from research curiosities to practically useful devices, researchers need to get their errors under control. New research from Microsoft and Quantinuum has now taken a major step in that direction.

Todays quantum computers are stuck firmly in the noisy intermediate-scale quantum (NISQ) era. While companies have had some success stringing large numbers of qubits together, they are highly susceptible to noise which can quickly degrade their quantum states. This makes it impossible to carry out computations with enough steps to be practically useful.

While some have claimed that these noisy devices could still be put to practical use, the consensus is that quantum error correction schemes will be vital for the full potential of the technology to be realized. But error correction is difficult in quantum computers because reading the quantum state of a qubit causes it to collapse.

Researchers have devised ways to get around this using error correction codes that spread each bit of quantum information across multiple physical qubits to create what is known as a logical qubit. This provides redundancy and makes it possible to detect and correct errors in the physical qubits without impacting the information in the logical qubit.

The challenge is that, until recently, it was assumed it could take roughly 1,000 physical qubits to create each logical qubit. Todays largest quantum processors only have around that many qubits, suggesting that creating enough logical qubits for meaningful computations was still a distant goal.

That changed last year when researchers from Harvard and startup QuEra showed they could generate 48 logical qubits from just 280 physical ones. And now the collaboration between Microsoft and Quantinuum has gone a step further by showing that they can not only create logical qubits but can actually use them to suppress error rates by a factor of 800 and carry out more than 14,000 experimental routines without a single error.

What we did here gives me goosebumps, Microsofts Krysta Svore told New Scientist. We have shown that error correction is repeatable, it is working, and it is reliable.

The researchers were working with Quantinuums H2 quantum processor, which relies on trapped-ion technology and is relatively small at just 32 qubits. But by applying error correction codes developed by Microsoft, they were able to generate four logical qubits that only experienced an error every 100,000 runs.

One of the biggest achievements, the Microsoft team notes in a blog post, was the fact that they were able to diagnose and correct errors without destroying the logical qubits. This is thanks to an approach known as active syndrome extraction which is able to read information about the nature of the noise impacting qubits, rather than their state, Svore told IEEE Spectrum.

However, the error correction scheme had a shelf life. When the researchers carried out multiple operations on a logical qubit, followed by error correction, they found that by the second round the error rates were only half of those found in the physical qubits and by the third round there was no statistically significant impact.

And impressive as the results are, the Microsoft team points out in their blog post that creating truly powerful quantum computers will require logical qubits that make errors only once every 100 million operations.

Regardless, the result marks a massive jump in capabilities for error correction, which Quantinuum claimed in a press release represents the beginning of a new era in quantum computing. While that might be jumping the gun slightly, it certainly suggests that peoples timelines for when we will achieve fault-tolerant quantum computing may need to be updated.

Image Credit: Quantinuum H2 quantum computer / Quantinuum

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Enhanced Control in Quantum Computing Through Innovative Pulse Design – yTech

Summary: Researchers at UCLAs Center for Quantum Science and Engineering have made strides in optimizing the accuracy of quantum systems through the design of advanced control pulses. By experimenting with composite and adiabatic pulses for single-qubit gates, Kajsa Williams and Louis-S. Bouchard considerably improved the resistance of these systems to control errors, facilitating progress in the field of quantum computing.

Quantum computing, despite its potential, faces significant challenges in maintaining accuracy over extended periods of operation due to errors that arise in complex computations. Researchers from UCLA have contributed a solution to this problem by devising composite and adiabatic pulses that demonstrate elevated tolerance to errors in the controlling fields.

Kajsa Williams and Louis-S. Bouchards research presented in Intelligent Computing explored these innovative design approaches. Their work utilized Qiskit software and the IBM Quantum Experience to simulate and validate their pulse designs on superconducting qubits. Although the proposed pulse designs did not display advantages in containing leakage or seepage compared to conventional ones, they excelled in robustness to control field discrepancies, ensuring nearly tenfold improvement in reliability.

The researchers leveraged Python programming to fine-tune their adiabatic pulse parameters and subsequently executed them on the IBM Quantum Experience platform. Through randomized benchmarking, they confirmed the high robustness of their adiabatic full passage pulses, which are only somewhat longer than standard pulses, thereby maintaining practicality in quantum operations. This advancement paves the way for expanding the scope of quantum computing applications, as it mitigates error accumulation, a prominent hurdle in current quantum technologies.

The Quantum Computing Industry

Quantum computing is a burgeoning industry with the potential to revolutionize various fields by providing computational power far exceeding that of classical computers. As of my last update, IBM, Google, Microsoft, and many other tech giants, as well as startups like Rigetti Computing and IonQ, are actively investing in quantum computing research and development.

The global quantum computing market is projected to grow significantly in the coming decades. Market research reports indicate an increase from a valuation of around several hundred million dollars in the early 2020s to a multi-billion-dollar industry by as early as the end of the decade. This growth is fueled by the promise of quantum computing to tackle tasks that are currently infeasible for classical computers, such as complex material science simulations, optimization problems in logistics, and potentially creating new breakthroughs in drug discovery and development.

Challenges in Quantum Computing

However, the field of quantum computing also faces substantial challenges. Among them is the issue of maintaining qubit coherence for sufficient durations to perform meaningful computations, as well as dealing with quantum error correction. Qubits, the fundamental units of quantum computation, are susceptible to various types of errors due to decoherence and noise, which makes them lose their quantum properties. This is where the work of researchers such as Williams and Bouchard becomes crucial, as their improvements in pulse design increase the fault tolerance of quantum systems.

Market Forecasts and Industry Applications

The advancements in control pulse design are expected to play a vital role in sustaining the projected market growth of the quantum computing industry. Enhanced precision and robustness can lead to more reliable quantum computers, which can then be employed across a variety of sectors including cybersecurity, where they could be used for cracking or securing cryptographic protocols; financial services, for complex optimization and prediction models; and materials science, for discovering new materials with exotic properties.

Moreover, the development of quantum algorithms designed to run on improved hardware could accelerate discovery in sciences like physics, by simulating and understanding quantum phenomena much more precisely, or in chemistry, by accurately simulating molecular interactions for drug discovery.

Issues related to the Quantum Computing Industry and Products

The quantum computing industry must overcome significant technical hurdles before these technologies can be widely adopted. Aside from enhancing system stability and error tolerance, there are other issues, such as the need for ultra-low temperatures in which most superconducting qubits currently operate, thus necessitating complex cryogenic infrastructure. Furthermore, the creation of more accessible programming models and language enhancements to make quantum computing more approachable to a wider variety of developers and researchers is ongoing.

Despite the inevitable challenges, the industry is poised for growth, and the work by researchers like those at UCLAs Center for Quantum Science and Engineering are creating a strong foundation for future advancements. Such progress supports the confidence in market forecasts that anticipate significant expansion and utility of quantum computing across various domains of industry and research in the years to come.

Jerzy Lewandowski, a visionary in the realm of virtual reality and augmented reality technologies, has made significant contributions to the field with his pioneering research and innovative designs. His work primarily focuses on enhancing user experience and interaction within virtual environments, pushing the boundaries of immersive technology. Lewandowskis groundbreaking projects have gained recognition for their ability to merge the digital and physical worlds, offering new possibilities in gaming, education, and professional training. His expertise and forward-thinking approach mark him as a key influencer in shaping the future of virtual and augmented reality applications.

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Examining the True Impact of Recent Quantum Computing Progress – yTech

A recent discussion among experts in the field of quantum computing reveals skepticism regarding the magnitude of advancements touted by Microsoft and Quantinuum. According to Paul Lucero of Omdia, despite Microsofts claims, their quantum leap requires significant improvement in fidelity and an expansion of computational capabilities beyond Clifford gates, which only support certain types of calculations. While Microsoft has successfully demonstrated four logical qubits, a far cry from the 100 necessary for scientific relevance, this progress does not yet herald a threat to current encryption methods which are projected to require approximately 2,000 logical qubits to be compromised.

Consequently, encryption systems like AES 256-bit remain secure for the time being. David Shaw, the chief analyst at Global Quantum Intelligence, suggests that the impressive results may have been somewhat curated by Microsoft, as some unsuccessful test runs were disregarded to paint a more favorable picture.

Despite the breakthrough, these advancements do not substantially alter the ongoing conversation about when large-scale, fault-tolerant quantum computing systems might be realized. Moreover, with numerous approaches to constructing quantum computers, Microsofts collaboration with Quantinuum suggests a more exclusive pathway that other companies may not readily adopt, though they could potentially draw inspiration from the underlying theory, posits Baptiste Royer from the University of Sherbrooke.

While this represents a series of cumulative improvements in error-correction, hardware, and calibration, the developments offer little immediate practical benefit for enterprises keen on the applications of quantum computing. For researchers, however, these findings provide a valuable environment for experimental testing and could ultimately accelerate the journey towards practical quantum applications.

Overview of Quantum Computing Industry

Quantum computing represents a significant leap from traditional computing by using the principles of quantum mechanics to process information. While standard computers use bits to represent either a 0 or a 1, quantum computers use quantum bits, or qubits, which can represent a 0, 1, or both simultaneously, vastly increasing the computational power for particular tasks.

The industry has been witnessing rapid development, but currently, large-scale quantum computers remain a goal rather than a reality. Companies like IBM, Google, and Intel, are also deeply invested in the quantum computing race, continually pushing the boundaries of what is possible.

Market Forecasts

The market for quantum computing is expected to grow significantly over the next decade. Estimates suggest that the quantum computing market could reach billions of dollars as the technology matures and finds applications across various sectors, including pharmaceuticals, materials science, finance, and cybersecurity. This growth is fueled by substantial investments from both the private sector and government initiatives intending to achieve quantum supremacy the point at which quantum computers can solve problems beyond the reach of classical supercomputers.

Issues in the Quantum Computing Industry

While advancements are noteworthy, the quantum computing industry faces several challenges. The development of qubits with lower error rates and high fidelity is a major technical hurdle. Additionally, building systems with enough qubits to perform meaningful computations, which includes error correction routines, is another significant technical challenge. Theres also the matter of making these systems accessible and useful for businesses, which require software ecosystems and quantum algorithms tailored to specific tasks.

Quantum computers have the potential to break contemporary encryption methods, a concern that has started to push the development of post-quantum cryptography. Although current encryption standards like AES 256-bit remain secure, the industry is focusing on cryptographic approaches that are considered quantum-resistant.

For further information on quantum computing and the work being done by leading companies, visit the main websites of these pioneer entities:

IBM Google Intel Microsoft

In conclusion, despite Microsoft and Quantinuum showcasing notable progress with four logical qubits, there is widespread acknowledgment within the expert community that we are still far from realizing quantum computings full potential. This nascent industry continues to grapple with significant technical challenges, but the progress in qubit quality and algorithm development keeps the sector optimistic about future breakthroughs. As for the security concerns regarding encryption, they remain at bay for now, but continued vigilance and innovation in cryptography are crucial as quantum computing evolves.

Igor Nowacki is a fictional author known for his imaginative insights into futuristic technology and speculative science. His writings often explore the boundaries of reality, blending fact with fantasy to envision groundbreaking inventions. Nowackis work is celebrated for its creativity and ability to inspire readers to think beyond the limits of current technology, imagining a world where the impossible becomes possible. His articles are a blend of science fiction and visionary tech predictions.

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Report: Sam Altman Seeks $1 Billion to Fund AI Hardware Device – PYMNTS.com

How much will it cost to build Sam Altmans planned artificial intelligence-powered personal device?

At least $1 billion, according to areportby The Information, which listed that amount as what Altman, CEO ofOpenAI, and his partner, Jony Ive,Apples former design guru, are seeking from investors.

While the precise nature of the device is unclear, it will not resemble a smartphone, the report said. The effort was first reported last fall, but the latest story indicated that discussions withThrive Capitaland venture capital groupEmerson Collective are proceeding to move the company forward.

Writing about the effort last year, PYMNTS likened the project to the way Apples business model has always revolved around a close integration betweenhardware and software.

This approach allowed Apple to control both the device and the operating system, ensuring a consistent and user-friendly experience, as well as facilitating the rise of subscription-based pricing models for apps and content, allowing users to pay on a recurring basis for access to premium services or content, the October report said. Similar pricing and operating model evolutions are already taking place in the AI ecosystem.

The steep cost of AI, fueled mainly by the computing power AI models need, is a reality that businesses need to face to stay competitive. Estimates from analysts showed thatMicrosofts Bing AI chatbot, powered byOpenAI, requires at least $4 billion ofinfrastructureto perform its tasks.

Managing these costs could lead to the development of new business models, or the transformation of existing ones, as businesses look to pass on both costs and cost-savings to end-users through dynamic pricing strategies, PYMNTS wrote.

In a separate report, PYMNTS noted that the AI landscape is growing more crowded and competitive, making it tougher for companies to get their ownAI productsinto the hands of consumers.

Building an AI hardware device may give OpenAI an edge, the September report said. The firm currently relies on Apple and Android phones to run its apps, and browsers housed in a variety of computer manufacturers casings to run its software.

For all PYMNTS AI coverage, subscribe to the daily AI Newsletter.

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How Artificial Intelligence Is Fueling Incel Communities – The Daily Beast

In late January 2024, X was flooded with graphic, deepfaked images of Taylor Swift. While celebrities have long been the victims of photo leaks and cyber-attacks, this time it was different because these were generated using artificial intelligence.

The images were quickly reported by the Shake It Off singers fanbase and taken down after being live on the posters profile for less than a day. However, it was enough time for them to go viral despite the platform having policies against non-consensual nudity. A report from disinformation research firm Graphika later found that the images had been created on 4chan, where users encouraged each other to generate sexually charged deepfakes in an attempt to skirt content policies surrounding nudity using famous female celebrities.

Unfortunately, Swifts experience isnt a one-off. Marvel actress Xochitl Gomez, who is only 17 years old at the time of reporting, said on the podcast The Squeeze that she struggled to get deepfakes of her taken down from X and shared the mental impact that had on her. Gomez and Swift are just two of the countless women whove recently become victims to deepfakes depicting them in sexual ways.

People have always used media to try and defame people, that hasnt changed. Whats changed is how accessible its now gotten, Siwei Lyu, professor of Computer Science at the University of Buffalo, told The Daily Beast.

Late last year, AI image generation platform CivitAI became popular for its Bounties feature, which encouraged users to create deepfakes in exchange for virtual rewards. Almost all the bounties created were of women, according to reporting from 404 Media. Some included women who werent celebrities or public figures either, but rather private citizens.

Experts expect it to only get worseespecially as more and more incel communities online use these technologies. Henry Ajder, an AI and deepfake adviser and expert, told The Daily Beast that this has been a growing problem for years now and CivitAI is an example of a platform heavily linked to that kind of evolution.

He said that CivitAI has become a hotbed for not just artistically created content, but also content thats erotic. Its a specific place to find specific knowledge and people have started using it for pornographic content.

Ajder also describes the technology on the platform as agnostic or dual use, saying once its there it can be used in any way, while, others are explicitly designed for creating pornographic content without consent. The tools have only gotten popular within incel culture via platforms like Reddit and 4chan.

Governments are simply trying to play catch-up: the technology has gone faster than their ability to regulate.

Belinda Barnet

Theres such a low threshold, Hera Husain, founder of Chayn, a nonprofit supporting victims of gender-based violence and trauma, told The Daily Beast. Its an easy-to-access method which allows people to fulfill the darkest fantasies they may have. [...]They may feel it is victimless, but it has huge consequences for those people.

Its not just deepfakes that have penetrated incel culture either. Theres even research that shows that AI girlfriends will be making incels even more dangerous. With this tech allowing them to form and control their perceptions of a so-called ideal woman, theres a danger that they may push those perceptions on real women. When they find themselves unable to do so or when a woman seems unattainable like in the case of Swift or Gomez, incels begin deepfake campaigns. At least, then, incels can make these women do what they like.

Governments are simply trying to play catch-up; the technology has gone faster than their ability to regulate, Belinda Barnet, senior lecturer in media at Swinburne University, told The Daily Beast.

This gets even more dangerous as we look at global contexts. Patriarchal norms in different nations often further endanger women who become victims to such campaigns. In many more conservative countries, even a deepfake of a woman can be enough for her family to ostracize her or, in extreme cases, use violence against her. For example, in late 2023, an 18-year-old was killed by her father over an image of her with a man which police suspect was doctored.

It doesnt matter that the image is fake. The fact that their image is associated with such a depiction is enough for society to ostracize them. Its not so much about people believing the images are real as it is about pure spite. Its a different kind of trauma to revenge porn, Ajder explained.

With AI generation becoming more accessible, this also makes it an easier barrier to entry for global incels who may have struggled with language barriers. In South Asia, where Husain focuses much of her work, it also becomes harder to counter incel radicalization, both socially and on a policy level. They dont have as strong a counter to the radicalization theyre seeing in the incel community, she explained.

Lyu says that policies regarding free speech and tech access across the world vary so there can be different impacts. In the U.S., using AI generation tools to create content... is freedom of speechbut people can take advantage of that as well. Drawing that line becomes very hard. Whereas in China, theres very strong limitations on the use of this technology, so that is possible but prevents positive uses of the same line of technology.

Incel culture existed long before AI generation tools became popular. Now that theyre mainstream, these communities will be quick to adopt them to further cause harm and trauma. The issue is sure to get worse before it gets better.

In terms of incel culture, this is another weapon in their twisted arsenal to abuse women, perpetuate stereotypes, and further make visceral the twisted ideas they have about women, Ajder said.

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Video: Where Bitcoin and Artificial Intelligence Meet – Bloomberg

The halving, a preordained event in the code of Bitcoin that happens every four years, is upon us again. Once it occursperhaps as soon as this monththe reward every miner receives for mining the digital asset is immediately cut in half.

There will be a day when miners come to work and they mine roughly half the number of Bitcoin they mined the day before, says Tyler Page, chief executive of Cipher Mining Technologies Inc. The halving is a natural phenomenon in Bitcoin that disciplines the entire market and forces it to become more efficient. As it turns out, each time its happened in the past, Bitcoin prices eventually hit a new record. Still, the event comes as some miners are looking for a hedgespecifically by branching out into artificial intelligence. In the mini-documentary Where Bitcoin and AI Meet, Bloomberg Originals explains how the two hottest technologies of the 21st century are coming together.

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Experts discuss misinformation, artificial intelligence, grassroots solutions at panel – The Brown Daily Herald

Misinformation experts discussed social media, algorithms and artificial intelligence at a Tuesday panel hosted by The Information Futures Lab.

Titled Everything We Know (And Dont Know) About Tackling Rumors and Conspiracies, the panel was moderated by Claire Wardle, a co-director of the IFL and a professor of the practice of health services, policy and practice.

Despite its societal impact, research on media misinformation remains a young field, according to Stefanie Friedoff, another co-director of the IFL and an associate professor of the practice of health services, policy and practice.

Having worked as a senior policy advisor on the White House COVID-19 Response Team, she later contributed to a literature review on pandemic misinformation interventions: a topic she discussed at the panel.

Were significantly understudying this, Friedoff said, citing a lack of longitudinal research on non-American and video-based misinformation. We dont have a lot of useful evidence to apply in the field, and we need to work on that.

Evelyn Prez-Verdia, founder of We Are Ms, a strategic consulting firm, spoke about her work to combat misinformation at the panel. She aims to empower Spanish-speaking diasporas in South Florida through community-based trust-building: Recently, she has worked with the IFL as a fellow to conduct a survey of information needs in Florida.

According to Prez-Verdia, non-English-speaking and immigrant communities are prone to misinformation because of language and cultural barriers. When people are offered accessible resources, she argues, communities become empowered and less susceptible to misinformation. People are hungry for information, she said.

Abbie Richards, another panelist and senior video producer at Media Matters for America, a watchdog journalism organization, identified social media algorithms as an exacerbating factor. In a video shown during the panel, Richards highlighted the proliferation of misleading or inaccurate content on platforms like TikTok. As a video producer, she looks to distill research and discourse on this topic for audiences who wouldnt necessarily read research papers, she said.

She researched AI-generated content on social media, which is often designed to take advantage of the various platforms monetization policies. Theres a monetization aspect behind this content, Richards elaborated.

Algorithms are designed to show (users) what they want to see and what theyll engage with, she said. When viewers feel disempowered it makes it really easy to gravitate towards misinformation."

When discussing AI-generated misinformation that is designed to be entertaining, Freidhoff noted that only some of us have the luxury to laugh at misinformation.

But from the perspective of somebody behind the paywall, who doesnt necessarily speak English, factual information becomes increasingly difficult to access, she added. She describes this as misinformation inequities, which all speakers acknowledged existed in their projects.

In an interview with The Herald, Friedhoff and Wardle emphasized how the online information ecosystem connects different types of misinformation. Vaccine skepticism, Wardle said, is a slippery slope towards climate change denial: We have to understand as researchers and practitioners that we can't think in silos.

Many of the speakers agreed that misinformation spreads in part because people tend to prioritize relationships both in real life and parasocial over fact. Theres nothing more powerful than someone you trust and close to you, Prez-Verdia said.

Richards said emotional literacy is the backbone to navigating both AI and misinformation. This includes teaching people how to recognize (confirmation bias) within themselves and understanding common misinformation techniques.

When asked to offer potential solutions, the speakers offered a range of responses. Richards suggested a marketing campaign for federal agencies to facilitate increased governmental literacy that allows for all citizens to understand how the government functions. Prez-Verdia also identified diverse and culturally conscientious government messaging as key, while Friedhoff recommended creating community conversations to explore perspectives rather than further polarizing them.

Audience member Benjy Renton, a research associate at the School of Public Health, was inspired by community-based approaches like Prez-Verdias work: it was great to see the diverse range of perspectives on misinformation.

The speakers told The Herald that they found each others perspectives enlightening. I'm somebody that people feel like they can go to because I've spent years talking about (misinformation), Richards said in an interview with The Herald after the event. But the idea of how you measure (trust) is fully beyond me.

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Prez-Verdia ended the discussion by re-iterating the fight against misinformation as founded on teamwork: When you look at all of these pieces, the women here, a collaboration where we all have our individual gifts thats exactly what needs to be done on a larger spectrum.

Megan is a Senior Staff Writer covering community and activism in Providence. Born and raised in Hong Kong, she spends her free time drinking coffee and wishing she was Meg Ryan in a Nora Ephron movie.

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The potential for artificial intelligence to transform healthcare: perspectives from international health leaders – Margolis Center for Health Policy

Artificial intelligence (AI) has the potential to transform care delivery by improving health outcomes, patient safety, and the affordability and accessibility of high-quality care. AI will be critical to building an infrastructure capable of caring for an increasingly aging population, utilizing an ever-increasing knowledge of disease and options for precision treatments, and combatting workforce shortages and burnout of medical professionals. However, we are not currently on track to create this future. This is in part because the health data needed to train, test, use, and surveil these tools are generally neither standardized nor accessible. There is also universal concern about the ability to monitor health AI tools for changes in performance as they are implemented in new places, used with diverse populations, and over time as health data may change. The Future of Health (FOH), an international community of senior health care leaders, collaborated with the Duke-Margolis Institute for Health Policy to conduct a literature review, expert convening, and consensus-building exercise around this topic. This commentary summarizes the four priority action areas and recommendations for health care organizations and policymakers across the globe that FOH members identified as important for fully realizing AIs potential in health care: improving data quality to power AI, building infrastructure to encourage efficient and trustworthy development and evaluations, sharing data for better AI, and providing incentives to accelerate the progress and impact of AI.

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Video generated by artificial intelligence falsely claims to show giant humans from 20th century – Yahoo! Voices

Rapid advances in artificial intelligence (AI) are raising concerns about the emerging technology, including users ability to trust content shared on social media. A recent video circulating in South Africa and Nigeria claims to show Polynesian giants who lived in the 1900s before dying out. But the claim is false: the footage was created using AI.

It is believed that in the early 20th century, giants existed in the island of Maupiti, they lived in peace and harmony with the normal people. Where did they go (sic), reads a post published on X on April 9, 2024.

The post includes a video showing large individuals towering over average-sized humans as a voiceover narrates.

In the early twentieth century, on the island of Maupiti in French Polynesia, myths spoke of a race of gentle giantssafeguarding the island and its inhabitants from outside threats, the voiceover says.

The post, first shared by a South Africa-based account, was liked more than 63,000 times.

Several users expressed scepticism, questioning if the video was created with AI.

Since the introduction of AI, I hardly believe anything I see on the internet. This might be a fake video, read one comment.

However, some users appeared to believe the footage.

Its truegiants exist those days (sic), one user wrote.

They died, no one is immortal, said another.

But the video is not real and was created using AI.

Using a reverse image search, AFP Fact Check found the same footage posted by a TikTok account called the_ai_experiment, which its creator labelled as AI-generated.

The TikTok clip, viewed more than 11 million times, includes the same video and voiceover used in the false X post.

The account regularly shares AI-generated content featuring mythical creatures, including giants, dragons, and aliens, which have been viewed millions of times.

AFP Fact Check contacted the creator but has not yet received a response.

At the worlds inaugural AI Safety Summit in February 2023, world leaders called for a united response to the potential threats posed by AI technology (archived here).

UN Secretary-General Antonio Guterres told leaders that AI had possible long-term negative consequences on everything from jobs to culture, while its concentration in a few countries and companies could increase geopolitical tensions.

Leaders from 28 countries, including the United Kingdom, the US, and China, signed a safety pledge, agreeing to work together to understand and manage the risks posed by the rapidly advancing technology.

AI-generated content is already sowing confusion online about elections, the Israel-Hamas conflict, and natural disasters.

AFP Fact Check has created a guide with tips on identifying images, videos, and audio made using AI, which you can read here.

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Lawrence K. Zelvin: Fraudsters have artificial intelligence too – St. Paul Pioneer Press

Soon, personal artificial intelligence agents will streamline and automate processes that range from buying your groceries to selling your home. Youll tell it what you want, and it will do the research and legwork, log into your personal accounts and execute transactions in milliseconds.

It is a technology with extraordinary potential, but also significant new dangers, including financial fraud. As Gail Ennis, the Social Security Administrations inspector general, recently wrote: Criminals will use AI to make fraudulent schemes easier and faster to execute, the deceptions more credible and realistic, and the fraud more profitable.

The story of cyberfraud has always been a technological arms race to innovate faster between criminals and those theyre trying to rob. In banking, AIs advent both supercharges that competition and raises its stakes.

When scammers used an AI-powered audio deepfake to convince the CEO of a British utility to transfer $243,000 to a Hungarian bank account in 2019, it was called an unusual case because it involved AI. That is not the case anymore.

Earlier this year, criminals made headlines when they used deepfake technology to pose as a multinational companys chief financial officer and tricked one of the companys employees in Hong Kong into paying the scammers $25 million.

Globally, 37% of businesses have experienced deepfake-audio fraud attempts, according to a 2022 survey by identity verification solutions firm Regular, while 29% have encountered video deepfakes. And that doesnt include individuals who receive realistic-sounding calls purportedly from hospitalized or otherwise endangered family members seeking money.

As these AI-enabled fraud threats proliferate, financial institutions such as BMO, where I lead the financial crimes unit, are working to continually innovate and adapt to outpace and outsmart the criminals.

With an estimated annual tab of $8.8 billion in 2022, fraud was a festering problem even before the COVID-19 pandemic, which sparked a dramatic increase in online financial activity. According to TransUnion, instances of digital financial fraud increased by 80% globally from 2019 to 2022, and by 122% for U.S.-originating transactions. LexisNexis Risk Solutions calculated in 2022 that every dollar lost to fraud costs $4.36 in total as a result of associated expenses such as legal fees and the cost of recovering the stolen money.

Generative AI, by its very nature, doesnt require high-tech skills to get benefits a fact criminals are leveraging to find and exploit software and hardware vulnerabilities. They also use AI to improve the tailoring of their phishing attacks through enhanced social media and other publicly available information searches.

Then theres synthetic fraud, one of the fastest-growing categories of cyberfraud, in which the AI fabricates identities from real and made-up details and uses them to open new credit accounts. In one instance, criminals created roughly 700 synthetic accounts to defraud a San Antonio bank of up to $25 million in COVID-19 relief funds. TransUnion last year estimated that synthetic account balances reached $4.6 billion in 2022 while a previous Socure report projected the cost of this fraud would reach$5 billion this year.

When it comes down to rolling out new technology solutions before security controls are well in place, weve been down this road before. For example, when businesses rushed headlong to embrace the transformative power of cloud computing, security was a bolt-on to which they paid attention only after suffering the sorts of massive data breaches that have become all too frequent, such as those suffered by Yahoo in 2013, in which the personal data of 3 billion people was exposed; Equifax in 2017, 147 million; and Marriott in 2018, 500 million.

As the international affairs think tank Carnegie Endowment noted in 2020, Despite various efforts to contain these risks over the past 25 years, the costs of cyber-attacks continue to increase, not decrease, and most organizations governments and companies struggle to effectively protect themselves.

The good news is that financial institutions are moving to combat AI fraud with the best tool available: AI. Nearly three-quarters of respondents to a 2022 Bank of England survey said that they were developing machine-learning models to fight financial fraud. Other next-generation defenses are also in the works: Passkeys are replacing passwords, and quantum key distribution is becoming more widespread.

Its a good start, but its just that, a start.

Along with more and better technological and AI advances to protect information and funds, we actually need to lean back into the human element. Companies, financial institutions, regulators and consumers must collaborate to produce and adopt secure, resilient and robust controls for handling this threat. This means education between institutions and consumers, and among families and friends. It means following protective online practices to keep access information secure. It means pulling all of the tools available both online and off and at the government, organizational and individual levels to shore up our defenses like a shield.

The alternative a patchwork series of solutions will have exploitable seams. And the problem is going to roll downhill, hitting medium- and small-sized businesses and individuals the hardest as they wont have multinational corporations ability to afford sophisticated defenses.

Artificial intelligence is speeding everything up. We cannot afford to let this accelerated clock tick too long without developing a global, industrywide security standard to harden us against the coming fraud storm.

If we dont act, the money we already have lost to fraud will seem like small change.

Lawrence K. Zelvin is the head of the financial crimes unit at BMO. He wrote this column for the Chicago Tribune.

Original post:
Lawrence K. Zelvin: Fraudsters have artificial intelligence too - St. Paul Pioneer Press

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