Following the circulation of a fabricated AI video in which he was falsely shown endorsing a trading platform, Nigerian business mogul, Tony Elumelu, has called for stronger safeguards against the misuse of artificial intelligence.
In a post on his X handle on Monday, Elumelu said the video, which appeared highly realistic, was completely fake.
“A few days ago, my team flagged an AI-generated video of me endorsing a forex and crypto platform. It looked and sounded remarkably real, but it was completely fake. This incident highlights a growing and serious threat to digital trust”, he wrote.
He stressed that he has no affiliation with any cryptocurrency or forex trading platforms.
“For the avoidance of doubt, I am not associated with any crypto or forex trading platforms. My commitment to inclusive prosperity has always been through long-term investments, building sustainable businesses, and empowering entrepreneurs”, he stated.
While recognising AI’s transformative potential, Elumelu urged African youths to embrace the technology responsibly.
“I strongly believe in the potential of AI. It is a defining technology of our time, and African youth must be at the forefront of adopting it to build scalable solutions. We cannot afford to be left behind in the global tech race”, he added.
However, he warned about the risks of rapid technological advancement if left unregulated.
“The ease with which identities can now be cloned to deceive the public is alarming. Policymakers and regulators must act now to establish safeguards and hold those using AI to scam people accountable”, he said.
Elumelu also encouraged the public to stay vigilant and protect themselves from digital fraud.
“We must create a safe digital environment where innovation can thrive without being overshadowed by fraud. Protect your hard-earned money, stay alert, and let us continue to build the Africa we deserve”, he wrote.
In his post, Elumelu tagged X owner, Elon Musk, and Nigeria’s Federal Ministry of Communications, Innovation and Digital Economy, highlighting the need for stronger regulatory measures.
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