In 2021, 60+ adult online scams jumped by 74% - and then again by 84% in 2022 - netting over $4.7b in losses among seniors during that two-year period. During this timeframe, individual losses skyrocketed from $18,246 in 2021 to $35,101 in 2022. Even more astonishing, when the victim pool was expanded to account for 40+ adults, the numbers were over $6b in just 2022.
NuVola AI's Groundbreaking Concept - NuVola AI is developing a 1st generation predictive behavioral model, Human Response Reaction Predecessor Modeling (HRRPM) that creates an Omnipresent multi-layered defense across all devices. Essentially, HRRPM understands cyber-thieves and their targets’ digital interaction patterns alerting them to so they can fend off these digital violators while safeguarding privacy and dignity.
The technology stack integrates an auto install client-side appt, cloud, Automated Machine Learning (AutoML) data loop feeding a Reinforcement Learning from Human Feedback (RLHF) AI behavioral data engines into a single solution. The SaaS architecture is quickly scalable, creating an AI driven real-time global platform, unbound by language or geographical regions stitching together interest groups, U.S., and international agencies with real-time capability to warn subscribers of new threats eliminating a scammer's use of the internet as a means to exploit individuals.
Additional Info
The annual FBI Internet Crime Complaint Center’s (IC3) Elder Fraud Report has a brutal message for seniors and their families – there are no effective technology solutions available, and you are at the mercy of online scammers. Current options range from AARP’s Fraud Watch network or website scam validators to Identity Verification Services or Digital Security Privacy Platforms (DSPP) like AURA, Norton, and others to fight this digital plague. Regardless of the options, they share a common DNA: they’re ineffective. The FBI’s IC3 numbers don’t lie. The more baffling question: these solutions have been in the market since 2018 while online scamming has spread like wildfire – why?
DSPP leaders hype their latest VPN, AI call, email, and spam filtering, credit, transaction, and ID monitoring innovations as the keys to protection. But somehow the hype never equals the reality, as the FBI numbers clearly show. If they’re pressed, they’d offer a well-reasoned excuse; but clearly, they’ve been unable to crack the scammers' code.
They’ll continue hyping their security tools using the latest tech buzz words to create a WOW marketing factor, but the truth is they’re unable to bend the abuse curve. This 3-year span of some of the top scams illustrates the ineffective impact the current crop of market solutions has had on stopping online scammers.
Abuse (losses) by the NUMBERS
. Tech Support ________________________________________________$940m
. Credit Card / ATM __________________________________________$238m
. Gov Impersonation _________________________________________$259m
. Romance / Confidence _____________________________________$ 1.1b
Source - 2020 - 2021 - FBIs IC3 Elder Fraud Rpt
Apex Predator - In the natural world, wolves are an apex predator; they have no fear or rivals in the wilderness. They work together in cunning, ruthless packs, encircling their prey and devouring them. The current digital landscape for all users, but especially for seniors, is like lambs (loved ones) being led to the slaughter as these online Fraudsters, Cyberthieves and Digital Predators stalk them for SPORT and MONEY! These beasts of prey understand the “psychology of reasoning” and how to deal with and overcome their victims’ objections. Put another way, they know what makes their victims tick.
Market Opportunity - Within the US there is roughly 108.7 million 50+ adults born between 1946 -1964 with a heavy online presence. This number is expected to grow and reach 132 million by 2030, according to the U.S. Census Bureau. The primary target market is slated for +50 seniors; however, NuVola AI’s portfolio with al a cart features has a broad appeal across different demographic groups combined with IP ownership and licensing agreements creates a financial juggernaut.
Entrepreneurial Profile - Cary Westbrook designs frontier approaches operating at the intersection of visionary thinking, respect for personal privacy, social needs, and radical technological design.
Snapshot
- 2010 VenturePrise SaaS Winner for high - growth startups / Eyessoftware.
- Led R & D of AI solutions targeting financial crimes for Bank of America.
- Collaborated with the FBI on online teen exploitation.
- Retired USAF veteran.
Closeout - These Digital Predators commit a wide variety of frauds on an industrial scale. There’s no credible evidence the current tidal wave of abuse will slow down and by extension the misery they bring. The goal of this summary is to outline an achievable roadmap to make a meaningful difference. It’s safe to assume scammers are not going to give up without a fight, therefore, creating a solution that is capable of learning from and adapting to their lies in real-time is critical. Solving this challenge requires a more unorthodox approach that rethinks the problem from the inside out - " turning the hunters into the hunted."
Before You Leave, Something To Think About - Scammers are using AI to target your family tree, what AI are you using to stay SAFE?
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