“Deepfakes are not just a distant threat; they are a present danger”: Forrester report warns CMOs

New Delhi: Recently, a report published by Forrester titled 'Deepfakes: The Hidden Threat CMOs Can't Ignore,' highlights the growing threat that deepfake technology poses to brand leaders and B2B CMOs. 

The report describes how generative AI is propelling Deepfake’s quick development and how hostile actors are increasingly being able to access it.

The report highlights that just 20% of marketing executives say their companies are up to date on deepfake technology, according to the research. 

In addition, 80% of businesses do not have specific crisis response procedures in place to deal with possible deepfake occurrences. Given the potential applications of deepfakes for CEO impersonation, fraudulent transaction authorisation, and the dissemination of false public pronouncements, this lack of readiness is alarming.

Karen Tran, principal analyst at Forrester stated that "Deepfakes are not just a distant threat; they are a present danger with the potential for long-lasting repercussions, as they can target corporate executives, disrupt business operations, and erode stakeholder confidence."

Moreover, the report also mentioned that 74% of surveyed organisations are worried about possible financial losses brought on by deepfake scams. 68% of marketing executives are also concerned about the possibility of personnel impersonation and the propagation of fraudulent public remarks as a result of deepfakes. 

What’s more alarming is that less than 30% of businesses say they use AI tools to identify and counteract deepfakes, despite these worries.

Nearly 65% of executives acknowledged that deepfakes could undermine confidence in their brand. The report suggests that the threat of deepfakes is not limited to financial implications but extends to reputational damage as well.