Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The growth of generative Artificial Intelligence (AI) globally comes with a lot of downsides, especially in Nigeria, which is emerging as Africa’s digital powerhouse.

According to experts, by 2030, Nigeria’s digital market will hit $27 billion.

However, this growth comes with challenges, especially regarding cybersecurity.

The Managing Director of Microsoft Nigeria and Ghana, Ola Williams, said the tech company’s latest research shows a disturbing trend.

He disclosed that AI-powered scams are growing at an alarming rate globally.

Williams noted that as Nigeria’s digital marketplace grows, the risk of cyber threats grows, showing the urgent need for robust security measures to keep pace with the digital growth.

He revealed that AI is lowering the bar for cyber fraudsters, making it easier and cheaper to generate mind-boggling, but believable content for attacks at an alarming rate.

Experts have said Nigeria experienced a sharp increase in cyberattacks in 2024, with AI raising the scale and precision of attacks on a large scale.

Additionally, fake incidents in Africa soared sevenfold from the second quarter of 2024 to the fourth quarter, as AI tools enabled fake identities, manipulating biometric data.

According to Williams, AI technology is allowing criminals to access tools to create deceptive scams, saying that the ability to draw on fake product reviews, AI websites, fakes, and voice cloning allows scammers to create to expand.

He said it is essential for businesses and individuals in Nigeria to be aware of developments as the trends become increasingly popular and sophisticated.

Data from Statista reveals that Nigeria’s e-commerce adoption is on the rise, with user access surpassing the regional average.

However, the increase of AI has enabled the rapid creation of fraudulent e-commerce sites, that mimic legitimate ones, making it challenging for consumers to differentiate between the genuine and the fake.

AI-generated product descriptions, images, and reviews hoodwink customers into trusting these fraudulent merchants.

Also, AI-powered chatbots complicate issues, allowing potential customers to interact with customers, delaying repayments with excuses and manipulating complaints.

Findings show that job and employment scams are also on the increase.

Legit.ng reported that the National Information Technology Development Agency (NITDA) alerted Nigerians about fake job offers.

The New Telegraph reported that Generative AI has enabled scammers to create fake job listings, profiles, and email campaigns, targeting vulnerable and desperate individuals, and setting up AI-powered and automated interviews.

The Microsoft chief, Williams, asked job seekers to watch out for signs of job scams, such as payment requests, bogus offers, unsolicited interview requests via SMS, and no formal communication channels.

He said scammers may also request personal information for verification, asking job seekers to validate websites by checking secure connections such as HTTPS and using Microsoft browser’s typo protection.

Legit.ng earlier reported that on Friday, August 15, 2023, social media in Nigeria was awash with news that Dangote was recruiting young Nigerian engineers into the refinery, a claim refuted by the refinery.

In a letter circulating on the internet, the Dangote Group allegedly asked Nigerians to forward the names of young engineers to work at the refinery.

The letter was written on what appeared to be the company's official letterhead and addressed to the general public, asking them to send in the names of candidates who should not be more than 30 years old for employment.

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Source: Legit.ng