The National Stock Exchange (NSE) on April 10 cautioned investors against deepfake videos of its MD and CEO Ashishkumar Chauhan giving stock recommendations.
In a statement, the exchange said it has observed the use of the face or voice of Mr. Chauhan and NSE logo in a few investment and advisory audio and video clips falsely created using technology.
Such videos seem to have been created using sophisticated technologies to imitate the voice and facial expressions of Chauhan, it added.
"Investors are hereby cautioned not to believe in such audio and videos and not follow any such investment or other advice coming from such fake videos or other mediums," NSE said.
It may be noted that NSE's employees are not authorised to recommend any stock or deal in those stocks.
Additionally, the exchange said it is making efforts requesting these platforms to take down such videos, wherever possible.
As per the NSE's process, any official communication is made only through its official website and the exchange's social media handles, the bourse said.
The exchange has asked investors to verify the source of communication and content that is sent out on behalf of the NSE and to check the official social media handles.
Deepfakes are manipulated videos or other digital representations that use artificial intelligence to create cogent videos or audio of individuals they never did or said, posing a risk of spreading misinformation and damaging their reputation.
