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A sobering reminder of %AI dangers emerged recently when a deepfake video scam cost a multinational company $25 million. Scammers created fake video conference calls where digitally altered videos of the company's CFO and other executives ordered employees to transfer funds. This represents the first known case of %Deepfakes enabling financial fraud with millions in damages – an unsettling milestone.

According to South China Morning Post, “The scammers applied deepfake technology to turn publicly available video and other footage into convincing versions of the meeting's participants”. Employees were thus fooled into seeing company leaders who “looked and sounded like real people the targeted employee recognized.”

Acting senior police superintendent Baron Chan highlighted the AI threat, stating: "This time, in a multi-person video conference, it turns out that everyone you see is fake."

As AI analytic capacities accelerate, potentials for destructive exploitation increase alongside. Yet despite legitimate concerns, AI may also be part of the solution when ethically and responsibly implemented.

One company developing solutions to mitigate risks similar to those that allowed for the Chinese incident is Canadian %ImpactAnalytics.

Driving Financial Innovation with Artificial Intelligence

This under-the-radar standout is focusing intensely on transforming AI's role in risk mitigation and credit model governance.

Meet Impact Analytics Inc. (CSE: PACT) (OTC: IPTNF) - an Alberta-based fintech firm rapidly making a name for itself by pioneering specialized %ArtificialIntelligence technologies to overhaul legacy approaches to risk assessment and decision making.

Through its proprietary solutions, Impact aims to propel financial institutions into the AI era by integrating cutting edge machine learning to unlock actionable insights from complex data in real-time. Core to its offering is a risk intelligence engine designed to enhance contextual analysis, visibility, and control across the full credit lifecycle.

Impact leverages next-generation AI to evolve dated risk management practices, taking a deep-dive approach on innovation towards tailoring AI specifically to transform credit risk modeling and morph reactive governance into predictive, data-savvy strategy.

Tailor-made solutions for the future of finance

Most recently, PACT made 3 major launch announcements: Credissential: an intelligent and secure platform for centralized global credit data management; Lana Cash: a product designed as an adaptable software layer that can be integrated by enterprises and users to enhance traditional risk assessment systems with real-time analytics; and the Pulse Program – a pipeline towards customization and adoption of the two former offerings for prospective partners.

The Pulse Program arrives to create sustainable early-stage partnerships focused on piloting and refining its products with enterprise feedback driving future progress and development. The goal is to establish partnerships that will provide access to %LanaCash and %Credissential for initial testing and evaluation. These collaborations will help develop use cases, inform future product development, and potentially result in bespoke solutions tailored to partners’ needs leveraging Impact’s algorithms and IP.

Following successful pilots, the partnerships are expected to transition to commercial agreements governing ongoing product enhancement and adaptation. The Pulse Program enables the company to garner unique perspectives from partners across sectors - especially finance and fintech – to expand its capabilities and better disrupt legacy systems like credit model governance. PACT views these strategic relationships as essential for continuous innovation and bringing novel offerings to market.

In a vast fintech environment hungry for modernization, Impact stands out through the power of focused disruption: attacking a pressing pain point with targeted AI to drive disproportionate impact.

As enterprises adopt AI to uplift operations, PACT commands attention from forward-looking investors for its distinct approach accelerating financial institutions’ migration to the future.

About Impact Analytics Inc.

Impact Analytics Inc. (CSE: PACT), an intelligent risk assessment platform company, operates as a financial services company focusing on building an AI-powered risk assessment engine to govern and optimize organizational decision making. Its risk assessment model is designed to reimagine traditional finance in a meaningful way. The company was formerly known as Axiom Capital Advisors Inc. and changed its name to Impact Analytics Inc. in October 2023. The company was incorporated in 2020 and is headquartered in Calgary, Canada.

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