Startups Turn to AI to Combat Rising Digital Scams in the U.S.
Image: AiShield
Americans lose billions to digital scams, so AI-based solutions are gaining ground to address this growing problem. In 2023 alone, reported losses from scams exceeded $10 billion, and the real figure may be much higher, as many victims keep silent out of embarrassment. This alarming trend is especially troubling with the rise of sophisticated AI technologies that allow scammers to impersonate loved ones or trusted institutions more convincingly than ever before.
Startups like AiShield, co-founded by Seattle entrepreneur Brian Roundtree, are stepping in with innovative AI tools designed to protect consumers. The startup uses generative AI to screen phone calls, monitor sensitive information and intercept potential scams before they cause harm. Targeted specifically at seniors - who are the most frequent victims - this platform acts as a protective filter for incoming and outgoing communications, detecting suspicious activity and alerting users in real time.
The U.S. Federal Trade Commission reports that fraud is reaching crisis levels, with fraudsters leveraging fear and urgency to manipulate victims into making poor decisions. As public education efforts raise awareness, startups like AiShield offer proactive defense mechanisms to protect the vulnerable.
As AI-driven scams become more advanced, these innovative technologies provide hope in the battle against fraud, offering a much-needed layer of protection in an increasingly connected world.
