Jakarta, September 18, 2024 — As Indonesia's digital landscape rapidly evolves, with over 221 million internet users across the nation, technological advancements are reshaping industries and daily life. While these innovations offer incredible opportunities, they also bring significant risks, including cyberattacks and digital scams that can cause severe financial harm. Recognizing these critical threats, VIDA, a leader in digital identity solutions, has brought together renowned cybersecurity expert Mikko Hyppönen to explore the dark side of these technological changes exclusively at the VIDA Executive Summit 2024.
Mikko offered invaluable insights into the evolving landscape of cybersecurity and effective strategies to tackle emerging threats, “I love the internet. Connectivity brought us so many benefits and business opportunities, but it also introduced greater risks,” Mikko noted.
“In the past, cyber attacks were physically transferred from one computer to another through what we called a floppy disc. Today, as we navigate the profound changes brought by technological revolutions, including generative Artificial Intelligence, we face the most significant shift in technology ever.”
One of the most significant technological advancements today is the rise of generative Artificial Intelligence (AI). Generative AI is a machine learning technology capable of creating diverse types of content, including text, images, and music. This represents one of the most transformative shifts in recent history. For instance, the song “Verknallt in einen Talahon,” produced entirely by AI through the system called Udio, has achieved notable success, ranking number 27 on the German and Austrian top 40 charts.
While generative AI offers numerous benefits and innovations, it also brings notable challenges. Unlike previous technological revolutions that primarily impacted manual labor, such as mass production machinery, generative AI is disrupting white-collar professions. It has the potential to displace jobs in areas like coding and legal services. Additionally, this technology has enabled sophisticated scams, including deepfakes that manipulate the likenesses of well-known celebrities.
Melaney Ricardo, an Indonesian actress and presenter known for her comedic approach and ability to captivate audiences, has experienced the alarming effects of deepfake technology firsthand. “The fraudsters used advanced AI to replicate my voice and image from my YouTube video, making it seem as though I endorsed a weight loss product. My family, who knows me best, reached out to ask if this product actually works. This indicates how convincing the endorsement appeared—so much so that even my family couldn't recognize that it was generated by AI. Imagine how others, who don’t know me personally, might fall victim to purchasing this potentially dangerous product,” Melaney revealed during the VIDA Executive Summit 2024 on Tuesday (3/9).
Cybercrime Evolves into a Highly Organized Threat, Urgent Need for Advanced Solutions
In today’s cybersecurity landscape, Mikko explains that the emergence of highly organized and agile criminal networks, leveraging new technologies, customizing attacks, and forming strategic partnerships, has formed cybercrime into a formidable business model, rivaling successful enterprises in both revenue and growth.
On the other hand, Indonesia alone experienced a staggering 279.84 million cyberattacks in 2023 according to The National Cyber and Encryption Agency (BSSN) data, highlighting an unprecedented level of threat.
Mikko notes, “If these criminal organizations were legitimate companies, they would be considered unicorns due to their revenue, profitability, and growth. However, unlike successful tech firms, these groups will never go public or seek an exit strategy. This comparison underscores the massive scale of the cybercrime problem.”
Adding to the concern, these groups are now branding themselves with names, websites, and logos, highlighting the alarming scale of their operations and their expanding presence in the global criminal landscape. This underscores the pressing need for businesses to recognize the escalating challenges in the digital realm and adopt advanced solutions to effectively counter the threats that could jeopardize their operations and endanger their customers.
To address these pressing challenges, VIDA has introduced its VIDA Identity Stack, a pioneering suite designed to combat digital fraud and enhance security across the digital ecosystem. Niki Luhur, Founder and Group CEO VIDA, stated, “Strong authentication and accurate identification of individuals are crucial for combating digital fraud such as deepfakes. VIDA’s technology is a fundamental building block for a trustworthy tech economy, transforming digital threats into secure opportunities and safeguarding both businesses and their customers.”
This pressing need for effective digital fraud prevention underscores the importance of solutions like VIDA in fortifying the digital landscape, especially in Indonesia. As the country rapidly advances in digital transformation with a significant rise in internet users, businesses and individuals must stay alert to both opportunities and risks. VIDA’s ongoing commitment to security and innovation plays a pivotal role in protecting Indonesian businesses and consumers from emerging threats, ensuring the safety and integrity of the nation's expanding digital ecosystem.
For more information about VIDA and its efforts in digital identity solutions, please visit https://vida.id/identitystackpage
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