Protecting Yourself from Deceptive AI Claims and Schemes

At Liberty Savings Bank, we understand the rapid advancements in artificial intelligence (AI) and the potential benefits it can bring. However, we also recognize the growing concern about deceptive AI claims and schemes. To safeguard our customers and the broader community, we're committed to providing you with essential information to navigate this evolving landscape.

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The Rise of Deceptive AI Claims

The FTC's recent crackdown on deceptive AI claims underscores the increasing prevalence of fraudulent practices involving AI technology. Companies have been falsely promoting AI-powered products or services, often making exaggerated or misleading claims. These deceptive tactics can lead to financial losses, privacy breaches, and a general erosion of trust in AI.

Common Deceptive AI Practices

• False AI Claims: Some companies may falsely claim to use AI in their products or services when they are not.
• Exaggerated Benefits: Companies may overstate the capabilities of their AI-powered products, promising unrealistic results.
• Misleading Marketing: Deceptive marketing tactics may be used to entice consumers into purchasing products or services that do not deliver as advertised.
  
  

How to Protect Yourself

1. Be Skeptical of Outlandish Claims
   If a company promises extraordinary results with little or no evidence, be cautious.
   
   
2. Research the Company
   Look for reviews and testimonials from other customers. Verify the company's legitimacy and reputation.
   
   
3. Understand AI Limitations
   While AI is powerful, it has limitations. Be aware of the current state of AI technology and avoid unrealistic expectations.
   
   
4. Protect Your Personal Information
   Be mindful of the data you share with companies that claim to use AI. Avoid providing sensitive information unless necessary.
   
   
5. Stay Informed
   Keep up-to-date with the latest news and developments in AI. This will help you identify potential scams and make informed decisions.
   
   

Liberty Savings Bank's Commitment To Your Privacy & Security

At Liberty Savings Bank, we prioritize the security and privacy of our customers' data. We encourage our customers to be vigilant and report any suspicious activities related to AI-powered products or services. Together, we can combat deceptive AI practices and protect our community from financial harm. Liberty Savings Bank is dedicated to providing you with the information and resources needed to stay safe in the digital age.