Australia Braces for Surge in AI-Driven Scams in 2024

Exeprts issue a warning that the integration of artificial intelligence is poised to catapult scams to unprecedented levels in 2024.

Artificial intelligence is part of the travel trend of 2024. Dreamstime/TNS

Despite a significant rise of 3,000 percent in scams in Australia over the past decade, leading to reported losses of $3.1 billion (US$2.07 billion), experts warn artificial intelligence (AI) will cause scams to reach even greater levels in 2024.

National Australia Bank (NAB) NAB cautions that AI scams, seen in the UK and US, are likely to emerge in down under soon.