OpenAI CEO Sam Altman warned Tuesday of a looming “fraud crisis” fueled by AI’s ability to impersonate voices and people, raising concerns over security in financial institutions that still rely on voice authentication.
Speaking at the Federal Reserve, Altman emphasized that AI has outpaced most current authentication methods except passwords, increasing the risk of scams and fraud.
He also expressed fears about AI superintelligence being misused by bad actors, potentially threatening critical infrastructure and national security.
Despite these risks, Altman believes the future impact of AI on jobs is uncertain, predicting both job losses and the emergence of new kinds of work.
OpenAI plans to open a Washington, DC office early next year to engage policymakers and research AI’s economic effects.
Source: PhilNews24 | July 24, 2025
