Business
Businesses Are Scrambling to Keep Themselves Safe Against AI
Good morning. Elon Musk and Donald Trump aren’t done fighting over the president’s “Big Beautiful Bill” — and Musk came out swinging last night. Writing on X, Musk said if the “insane spending bill” passes, he’ll form a new political party (can you guess what it would be called?).
In response, Trump suggested that DOGE look into slashing government contracts with Musk’s companies. “Without subsidies, Elon would probably have to close up shop and head back home to South Africa,” Trump wrote on Truth Social. Here’s the latest.
In today’s big story, watch out for fake job candidates, fake recruiters, and fake sales. America’s small business owners are being swamped by scammers.
Before I continue, sign up for Defense Flash, BI’s weekly digest on the latest innovations and strategies in modern warfare, the defense tech industry, and more — launching soon. Sign up here.
What’s on deck
Markets: Why Morgan Stanley is predicting potential stock market highs in the second half of the year.
Tech: Mira Murati’s secretive AI startup is offering $450,000+ salaries to lock in top talent.
Business: Apple’s “F1” movie got the no. 1 spot at the box office — but that might be a one-off.
But first, something seems suspicious …
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The big story
The Deepfake Economy
Getty Images; Ava Horton/BI
If you fall for it, the consequences can be devastating. Last year, a finance clerk at the engineering firm Arup joined a video call with people he believed were his colleagues. It turned out that each of the attendees was a deepfake recreation of a real coworker — including the company’s finance chief. Convinced by the ruse, the clerk approved over $25 million in overseas transfers.
Scams like this are becoming more common. Since ChatGPT burst onto the scene, online businesses have had to navigate a rapidly expanding deepfake economy. In the past year alone, GenAI-enabled scams have quadrupled, according to the platform Chainabuse.
BI spoke with professionals in several industries — including recruitment, graphic design, publishing, and healthcare — who are scrambling to keep themselves and their customers safe against AI’s ever-evolving threats.
Many feel like they’re playing an endless game of whack-a-mole, Shubham Agarwal writes for BI. Now, the moles are multiplying and getting smarter.
Giulio Bonasera for BI
You would never be fooled, right?
Don’t be so sure. The VP of strategy at a cybersecurity firm said GenAI tools now allow a novice with cheap programs and little technical know-how to clone a brand’s image and write flawless scam messages within minutes.
Agarwal put this to the test using a tool called Llama Press. Sure enough, they created a near-perfect clone of an online store — and personalized it with just a few lines of instruction.
BI’s Amanda Hoover was also able to deepfake her own bank with relative ease. All it took was an AI voice generator and a phone call.
While platforms like Teams and Zoom are getting better at detecting deepfakes, they can also create a problem. The data these platforms collect on what’s fake could ultimately be used to train more sophisticated GenAI models, the CEO of a cybersecurity firm told BI.
3 things in markets
Getty Images; Alyssa Powell/BI
1. AI is speeding up the slow investment game. Fundamental investors are known for taking a slow and methodical approach to their investing, but AI is about to change all of that. Three firms using the tech share how it’s transforming their investment processes.
2. A market vet forecasts the S&P 500 breaking 10,000 by the end of the decade. Ed Yardeni, a longtime forecaster and the president of Yardeni Research, said stocks are now in “melt-up” mode and the S&P 500 could soar 60% by 2030.
3. The stock market’s secret weapon. Earnings revisions breadth, or the number of analysts who are raising their estimates minus those lowering them, has improved significantly in recent months. Morgan Stanley sees that as powering further market gains.
3 things in tech
picture alliance/Getty, YUICHI YAMAZAKI/Getty
1. Tech’s most powerful relationship is on the rocks. Microsoft is OpenAI’s biggest investor, but tensions over the terms of their partnership are boiling over. Money and equity are huge sticking points, and they’re also beefing over AGI and OpenAI’s acquisition of a Copilot competitor.
2. Mira Murati’s startup is paying top dollar to win the AI arms race. Murati’s Thinking Machines Lab is paying two members of its technical team $450,000 in salary, and another is getting $500,000, according to federal data obtained by BI. That’s a lot more than the average salaries offered to technical talent by OpenAI and Anthropic, Murati’s top competitors.
3. Here’s what that $14 billion hire is doing at Meta. Alexandr Wang, the 28-year-old Scale AI founder Mark Zuckerberg hired last month, will be coleading Meta’s new superintelligence lab with former GitHub CEO Nat Friedman. Read the memo announcing their roles.
3 things in business
Cheng Xin/Getty Images
1. Lululemon is suing Costco. The athleisure brand is accusing Costco of creating “confusingly similar” dupes of its yoga jackets and chinos. Lululemon is asking for damages in the form of lost profits and compensation for patent infringement, but it’s not the first time the brand has accused a company of copyright infringement.
2. Apple’s “F1” has a special sauce of epic proportions. The racing movie got a huge boost from Imax, which said on Monday it made up 19% of the film’s global box office sales. Imax tickets cost more, helping Apple beat box office expectations — but that boost might not apply for other films down the line.
3. What GOP senators changed in Trump’s “Big Beautiful Bill.” Senate Republicans altered a controversial provision, discouraging states from regulating AI for five years instead of the originally written 10. The bill is making its way through the legislature, much to Elon Musk’s dismay: on X, he vowed to defeat Republicans who back it “if it is the last thing I do.”
In other news
What’s happening today
- Settlement between NCAA and college athletes goes into effect, allowing colleges to compensate athletes directly for using their name, image, and likeness (NIL).
- Jerome Powell speaks at ECB Forum on Central Banking in Sintra, Portugal.
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New York mayoral Democratic primary election results expected.
Hallam Bullock, senior editor, in London. Meghan Morris, bureau chief, in Singapore. Grace Lett, editor, in Chicago. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Akin Oyedele, deputy editor, in New York. Ella Hopkins, associate editor, in London. Dan DeFrancesco, deputy editor and anchor, in New York (on parental leave).
Business
AI video becomes more convincing, rattling creative industry
AI (Artificial Intelligence) letters and robot miniature in this illustration. The creative industry is concerned over the rapid developments in AI-generated videos. REUTERS/Dado Ruvic/Illustration/File Photo
NEW YORK, United States – Gone are the days of six-fingered hands or distorted faces — AI-generated video is becoming increasingly convincing, attracting Hollywood, artists, and advertisers, while shaking the foundations of the creative industry.
To measure the progress of AI video, you need only look at Will Smith eating spaghetti.
Since 2023, this unlikely sequence — entirely fabricated — has become a technological benchmark for the industry.
READ: How investments in reskilling, building trust can help Philippine firms navigate AI era
Two years ago, the actor appeared blurry, his eyes too far apart, his forehead exaggeratedly protruding, his movements jerky, and the spaghetti didn’t even reach his mouth.
The version published a few weeks ago by a user of Google’s Veo 3 platform showed no apparent flaws whatsoever.
“Every week, sometimes every day, a different one comes out that’s even more stunning than the next,” said Elizabeth Strickler, a professor at Georgia State University.
Between Luma Labs’ Dream Machine launched in June 2024, OpenAI’s Sora in December, Runway AI’s Gen-4 in March 2025, and Veo 3 in May, the sector has crossed several milestones in just a few months.
Runway has signed deals with Lionsgate studio and AMC Networks television group.
Lionsgate vice president Michael Burns told New York Magazine about the possibility of using artificial intelligence to generate animated, family-friendly versions from films like the “John Wick” or “Hunger Games” franchises, rather than creating entirely new projects.
“Some use it for storyboarding or previsualization” — steps that come before filming — “others for visual effects or inserts,” said Jamie Umpherson, Runway’s creative director.
Burns gave the example of a script for which Lionsgate has to decide whether to shoot a scene or not.
To help make that decision, they can now create a 10-second clip “with 10,000 soldiers in a snowstorm.”
That kind of pre-visualization would have cost millions before.
In October, the first AI feature film was released — “Where the Robots Grow” — an animated film without anything resembling live action footage.
For Alejandro Matamala Ortiz, Runway’s co-founder, an AI-generated feature film is not the end goal, but a way of demonstrating to a production team that “this is possible.”
‘Resistance everywhere’
Still, some see an opportunity.
In March, startup Staircase Studio made waves by announcing plans to produce seven to eight films per year using AI for less than $500,000 each, while ensuring it would rely on unionized professionals wherever possible.
“The market is there,” said Andrew White, co-founder of small production house Indie Studios.
People “don’t want to talk about how it’s made,” White pointed out. “That’s inside baseball. People want to enjoy the movie because of the movie.”
But White himself refuses to adopt the technology, considering that using AI would compromise his creative process.
Jamie Umpherson argues that AI allows creators to stick closer to their artistic vision than ever before, since it enables unlimited revisions, unlike the traditional system constrained by costs.
“I see resistance everywhere” to this movement, observed Georgia State’s Strickler.
This is particularly true among her students, who are concerned about AI’s massive energy and water consumption as well as the use of original works to train models, not to mention the social impact.
But refusing to accept the shift is “kind of like having a business without having the internet,” she said. “You can try for a little while.”
In 2023, the American actors’ union SAG-AFTRA secured concessions on the use of their image through AI.
Strickler sees AI diminishing Hollywood’s role as the arbiter of creation and taste, instead allowing more artists and creators to reach a significant audience.
Runway’s founders, who are as much trained artists as they are computer scientists, have gained an edge over their AI video rivals in film, television, and advertising.
But they’re already looking further ahead, considering expansion into augmented reality and virtual reality — for example creating a metaverse where films could be shot.
“The most exciting applications aren’t necessarily the ones that we have in mind,” said Umpherson. “The ultimate goal is to see what artists do with technology.”
Business
Three ways you can make AI generate business leads for you
For quite a while now, people within the business community have been talking about how AI continues to improve task efficiency and streamline operations, but few are truly exploring how this new era is affecting new business lead generation.
Since opening Agent99’s doors 18 years ago, part of my new business strategy has simply been to ask people how they found us. The majority of our leads come through referrals, followed by Google. However, just last week, I was on two new business calls and when I asked both prospects how they came across Agent99, they gave the same surprising response: “by asking ChatGPT”.
Where consumers and clients once relied on Google for recommendations, be it agencies, restaurants, dry cleaners, or anything in between, that’s no longer the default.
Today, people are entering these same queries into AI tools and expecting real-time, curated answers based on a mix of web data, reviews, and sentiment. And this shift has caught many business owners off guard. A high Google ranking no longer guarantees your business will be visible or recommended through AI platforms. All that work on your SEO strategy? It’s no longer the only game in town.
This was a light bulb moment for me as a business owner. If you’re not thinking about how you rank on AI platforms and prioritising this, you’re losing new business opportunities.
When I took a deeper look at why we were ranking so well on ChatGPT, and how this new kind of ‘search engine’ prioritises content, I realised (after some thorough research) that it’s because we’ve consistently focussed on our own PR (ie third party credible endorsement), winning awards, garnering reviews from our clients, and reporting on our marketing campaigns on our own website blog and social pages. This is what AI platforms prioritise when making recommendations.
So, if you’ve noticed a dip in leads lately or you simply want to boost your company’s visibility in the AI space, here are three strategies I strongly recommend.
Make your SEO plan AI-friendly
It’s no longer enough to optimise your company website for Google alone. Instead of short, Boolean-style search queries, people are now asking long-form, conversational questions. And in response, tools like ChatGPT are generating concise, curated answers drawn from a wide range of sources — with a clear preference for natural, human-sounding language.
It might seem ironic that AI prefers human content, but it’s the new reality.
To match this, we recommend rewriting key pages on your website, starting with your ‘About’, ‘Services’ and ‘Home’ pages, using language that mirrors how real people would ask for your services in everyday conversation.
For example, instead of writing: “We deliver integrated management solutions,” try: “We help Australian businesses develop management strategies that support sustainable growth”.
If relevant, start a blog that directly answers the kinds of questions people might be asking ChatGPT, and think carefully about how they’re asking them. Once you’ve mapped out your content strategy, commit to publishing consistently. AI platforms favour businesses that post regularly and demonstrate long-term authority in their field.
Prioritise earned media and content
AI tools place more weight on what others say about your business than what you say about yourself. So, while your website content is important, the next priority is securing earned media coverage. This includes article mentions in credible publications and thought leadership content in niche outlets relevant to your industry.
While the media landscape has evolved, organic coverage on high-authority platforms still carries serious influence. That includes local business media, trade publications, and long-form podcasts — especially those with strong digital footprints. A single mention in a well-respected outlet often holds more weight than a dozen paid ads in the eyes of AI.
You should also be submitting your business for awards, rankings, and “Best of” lists. Third-party recognition like “Top PR Agencies in Australia” or “Best Accountants in Melbourne” dramatically increases your chances of being recommended by AI tools for those search terms.
Lastly, make sure you’re actively collecting client testimonials and online reviews. Reach out to past and current clients and ask for a testimonial you can publish. Genuine, positive sentiment from others boosts your ranking and trust level within AI results.
Show up where conversations are happening
A lesser-known — but highly effective — way to improve your AI visibility is by showing up where your audience is already talking. Think Reddit, Quora, LinkedIn comments, Facebook groups, and even the comment sections of popular blogs or YouTube videos. AI tools are constantly crawling and learning from these conversations, and businesses that participate meaningfully often see a lift in visibility.
Start by choosing two or three platforms where your target audience is most active. If you’re B2B, this might be LinkedIn or industry forums. If you’re more consumer-facing, Reddit, TikTok, or Facebook might be the place. Jump in, answer questions, share your perspective, and most importantly, offer value.
When your brand is mentioned organically or involved in high-engagement threads, it sends strong signals to AI tools. Over time, this can help position your business as a credible authority in your space.
Also, respond to users who tag or mention your brand on social platforms. Engaging with user-generated content builds trust, encourages loyalty, and creates digital breadcrumbs that prove your relevance and responsiveness — two factors that AI prioritises more than ever.
AI isn’t just a trend; it’s a fundamental shift in how consumers discover and choose businesses.
Rather than fearing this new giant in the room, lean in. By understanding how AI platforms work and proactively shaping your digital footprint, you’ll improve your ability to attract quality leads, earn recommendations, and strengthen your brand presence in what’s becoming an increasingly competitive and complex market.
Business
Maternity brand Seraphine worn by Kate enters administration
The maternity fashion retailer Seraphine, whose clothes were worn by the Princess of Wales during her three pregnancies, has ceased trading and entered administration.
Consultancy firm Interpath confirmed to the BBC on Monday that it had been appointed as administrators by the company and that the “majority” of its 95 staff had been made redundant.
It said the brand had experienced “trading challenges” in recent times with sales being hit by “fragile consumer confidence”.
The fashion retailer was founded in 2002, but perhaps hit its peak when Catherine wore its maternity clothes on several occasions, leading to items quickly selling out.
Prior to the confirmation that administrators had been appointed, which was first reported by the Financial Times, Seraphine’s website was offering discounts on items as big as 60%. Its site now appears to be inaccessible to shoppers.
The main job of administration is to save the company, and administrators will try to rescue it by selling it, or parts of it. If that is not possible it will be closed down and all its saleable assets sold.
Will Wright, UK chief executive of Interpath, said economic challenges such as “rising costs and brittle consumer confidence” had proved “too challenging to overcome” for Seraphine.
Interpath said options are now being explored for the business and its assets, including the Seraphine brand.
The retailer’s flagship store was in Kensington High Street, London, but other well-known shops, such as John Lewis and Next, also stocked its goods.
The rise in popularity of Seraphine, driven in part by Royalty wearing its clothes, led to the company listing on the London Stock Exchange in 2021, before being taking back into private ownership in 2023.
Interpath said in April this year, the company “relaunched its brand identity, with a renewed focus on form, function and fit”.
“However, with pressure on cashflow continuing to mount, the directors of the business sought to undertake an accelerated review of their investment options, including exploring options for sale and refinance,” a statement said.
“Sadly, with no solvent options available, the directors then took the difficult decision to file for the appointment of administrators.”
Staff made redundant as a result of the company’s downfall are to be supported making claims to the redundancy payments service, Interpath added.
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