The CEO and co-founder of UK fraud detection platform, Pasabi, has addressed delegates on the Market Danger Administration Convention alongside key audio system from Uber, Google and eBay.

The occasion, which befell in San Francisco this week, noticed tech entrepreneur Chris Downie of Pasabi tackle attendees concerning the rising menace posed by pretend evaluations, which have flooded the web. Mr Downie’s presentation, entitled “Why Behavioural Analytics Beats Content material Evaluation For Preventing Pretend Critiques” was delivered in partnership with Anoop Joshi, VP, Authorized & Platform Integrity, of evaluation platform Trustpilot.

“The pretend evaluation epidemic now instantly influences over $152 billion of on-line spending yearly,” warned Chris Downie, CEO & co-founder of fraud detection platform Pasabi.

“The emergence of easy-to-use and complex AI instruments, akin to ChatGPT, implies that fraudsters now have the potential to flood the market with much more convincing pretend evaluations, deceptive customers and companies.

“Regulators across the globe are starting to crack down on this dangerous apply, and  the time has come for evaluation platforms and marketplaces to take motion and deal with the difficulty as a prime precedence. Key to this effort is having the proper know-how companions in place that may look past content material and use behavioural analytics and continuous monitoring to establish pretend evaluations and the dangerous actors behind them,” added Downie.

Pasabi, which is predicated in Edinburgh and is backed by AWS specialist VeUp, additionally unveiled the corporate’s international growth plans, which embrace elevated funding in its know-how platform and international hires within the US.

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UK tech entrepreneur warns of affect of pretend evaluation ‘epidemic’