AI Or Not Raises $5 Million To Stop AI Fraud, Deepfakes, And Misinformation

AI or Not, a widely covered AI fraud detection platform, has raised $5 million in a seed funding round to accelerate its use of “AI to detect AI” in images, audio video and deepfakes to prevent fraud and misinformation.Foundation Capital led the round, with participation from GTMFund, Plug and Play, and strategic angel investors. The company noted 85% of corporate finance professionals now view AI scams as an “existential” threat and more than half of them have already become a target of deepfake technology.In the next two years, generative AI scams could be responsible for over $40 billion of losses in U.S. alone. It is this growing threat that fueled AI or Not’s growth over the past year, serving over 250,000 users to date, with the new injection of funding used to create more sophisticated ways of detecting misinformation online and ensure their tools remain ahead of evolving threats.“In countless ways, we rely on our ability to see and hear to verify authenticity. With the advent of generative AI models, now we can no longer be so sure,” said Zach Noorani, partner at Foundation Capital, in a statement. “AI or Not’s unique approach to AI detection solves this emerging problem. We’re excited to support their mission of protecting people, companies, governments, and assets broadly from the risks posed by generative AI.” Get full access to Neural News Network at remunerationlabs.substack.com/subscribe