October 27, 2023 | Blog

Generative AI Gets Better and Better. That Can Be a Problem.

As it grows more advanced, generative AI is being embraced by a broad range of companies for everything from customer interactions to addressing inquiries to booking travel. It’s not surprising; witness ChatGPT instantaneously spew a sonnet about anyone you like and it becomes evident that generative AI tools are fluent, sophisticated, and versatile. This explains why 72% of organizations are using generative AI, according to the 2023 Data Complexity Report by NetApp using data from a custom global survey with Wakefield Research.

But some heeding the siren call of generative AI might be ill-advised to do so, particularly job applicants who turn to AI technology for, um, “help” crafting resumes and cover letters. Almost half (47%) of college seniors want to use ChatGPT or other AI tools to write their resumes or cover letters, according to an iCIMS report using data from a Wakefield Research survey. Not so fast, say 39% of HR professionals surveyed, who warn that using ChatGPT/AI bots during the hiring process is a surefire deal-breaker.

Despite its value to a range of organizations, without rigorous controls generative AI beckons to fraudsters, in particular identity fraud called “synthetic” fraud that wreaks havoc and drains millions with the use of fake online customers. A Wakefield Research custom survey for Deduce reflected financial professionals’ concerns about whether identity detection technology can keep up with this onslaught of bots.

Like so much of today’s cutting-edge technology, AI can be a curse as well as a blessing. For now, the hope is that generative AI can be applied responsibly as it improves customer service and produces reliable results that save time and boost productivity.