Bongbong Marcos warns of possible AI-based risks
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MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday warned the public that some people have started to use artificial intelligence (AI) to scam people.
Speaking at celebrating the 85th Anniversary of the Securities and Exchange Commission (SEC), Marcos reiterated the significance of digitalizing services and digitizing data and processes.
But he also cautioned that risks accompany using advanced tools like AI since scams and fraudsters tend to transform or adapt; thus, the government’s technical capability must be intensified.
READ: Bongbong Marcos urges SEC to continue digitializing services
“Well, we have to continue strengthening our capabilities when it comes to this. This is not a problem that is exclusive to the Philippines alone and that is some of the danger that people are starting to use AI. People are starting to use all the new very powerful tools that are available to be used on social media or on the internet in general,” the President said in an interview in Makati City.
Marcos stated his stand on AI in response to a question about how the government, through the SEC, can safeguard the public against abusive online lenders and investment scammers.
Marcos called the fight against scams and deceitful transactions an “arms race.”
“Every defense or every capability that we develop to block or to catch or to nullify this kind of transactions, of course, they come up with new technology, they come up with new techniques,” he noted.
READ: SEC warns public against fraudulent investment schemes online
According to the President, subscriber identity module (SIM) registration is a concrete step to combat deceptive schemes.
“My advice to the public is that when you get a message and there is a deal being presented and it sounds too good to be true, it is. There is no such thing as 100 percent risk-free. There is no way to guarantee these enormous returns on what they are claiming, on the money that you put, that you give them,” Marcos said.
Marcos emphasized that an informed consumer is still the best antidote against scams.
The listing of SIM cards under the SIM Registration Act is still ongoing after the government extended its previous April 26 deadline for another 90 days.
Global AI regulation gains momentum
Governments worldwide are already regulating AI to manage complex issues.
The US, EU, Canada, China, UK, Germany, and France have their own AI regulations and strategies.
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