• October, 26 2023
  • by Ascentspark Software

While we were surfing through our social media platforms after winding up Durga Puja, we witnessed a video of Mr. Narayana Murthy, the renowned Indian entrepreneur and founder of Infosys, claiming to have launched an AI trading platform with Iplex AI

As a technology company, it was really intriguing for us to see Artificial Intelligence embedded into a trading platform and backed by Mr. Narayan Murthy. On seeing the video and news initially, everything looked very interesting and a step forward in the world of AI and making investment and returns easy for people. But as we proceeded with more research on the news and the AI trading technology, suspicions arose. 

Why and How?
The video in question featured Mr. Narayana Murthy making bold claims about the launch of an AI trading platform in collaboration with Iplex AI. It depicted Mr. Murthy talking about the platform's advanced algorithms and promising significant returns for investors.

The post was hyperlinked to a webpage, which has been designed to look like a news story by The Indian Express, with the headline “JUST IN: Narayana Murti unveils his secret to enrich ordinary Indians.” The article depicts a photo of Mr. Murthy quoting how he had invested "$3.000.000" and founded a new trading platform called “BTC iPlex Ai”. It then lists the benefits one can avail on signing up on the platform.

Unveiling the Truth

Upon closer examination of the posts and images being shared on social media, it appeared to us that the video was a well-orchestrated fabrication intended to deceive viewers, also known as Deepfake. The audio and the video did not seem to be in sync as well

On inspecting further, we discovered that the link that led to the news video published on The Indian Express website was fake as the URL was also gibberish and did not match the known domain name of The Indian Express. We also noticed that the byline was credited to the Entertainment Desk and not the Finance Desk and the website was a lookalike of The Indian Express.

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To this point, it was clear to us that this was a scam in progress and the video was fake. We were surprised to see that the video had already gone viral and had attracted attention from individuals within the finance and technology sectors along with many news and media platforms picking it up as well without verifying it. 

The video is still being shared with the caption, “Iplex AI has already changed the lives of many other Indians who, by investing just Rs. 25,000, have received Rs. 100,750 in income in their bank account within a week.”

Implications of the Hoax

The repercussions of this fake video are multi-faceted. From a reputational standpoint, it tarnishes the credibility of Mr. Narayana Murthy and Iplex AI, leading to potential damage to their professional image and trustworthiness. Moreover, unsuspecting viewers who believed the video's claims may have fallen victim to investment scams or made uninformed financial decisions, thus causing financial losses and emotional distress.

Role of Critical Thinking in Debunking Fake News

The proliferation of fake news and viral hoaxes highlights the critical need for individuals to exercise discernment and critical thinking skills when consuming online content. In an era where misinformation can easily spread, it is vital to question the authenticity and credibility of information before accepting it as truth. It is quite evident that the video is doctored as the lip sync is totally out of place. But for people who are not tech savvy or older people, might've fallen easily for this hoax or might fall for such scams in the future.

Fact-checking, consulting reliable sources, and verifying claims from reputable authorities are essential practices to combat the dissemination of false information.

Instances such as this fake video serve as reminders of the importance of debunking and exposing false information promptly. Fact-checking organizations, social media platforms, and responsible journalism play significant roles in dispelling misinformation. It is crucial for individuals to share accurate information, report fake content, and promote media literacy to create a safer and more informed online environment.

Cautionary Lessons

The fake viral video involving Mr. Narayana Murthy and the alleged AI trading platform serves as a cautionary tale for both content creators and consumers. Content creators must understand the ethical and societal implications of creating and spreading false information, while consumers must be vigilant in their consumption and evaluation of online content. By actively engaging in critical thinking, we can collectively combat the spread of misinformation and protect ourselves from falling victim to digital hoaxes.

The emergence of fake viral videos, such as the one featuring Mr. Narayana Murthy and the alleged AI trading platform, reminds us of the challenges posed by misinformation in the digital era. By developing an informed and discerning approach to online content, we can stem the tide of fake news and hoaxes. 

Let us embrace critical thinking, verification, and responsible information sharing to build a more trustworthy and reliable online environment. 

As a tech company, it is our duty to debunk technology related myths and unravel digital hoaxes. Thus, we request you to stay vigilant and ensure that you never click on forwarded videos, links, or any form of digital media that makes bold claims or looks suspicious. We also request you to educate yourself and others on the dangers of misinformation and scamming via reliable resources and platforms.

Remember, it is our collective responsibility to combat misinformation and safeguard the integrity of information in the digital realm.

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