Apate.ai launched from Macquarie University spots scams using AI agents
Technology
Apate.ai, launched in 2024 out of Macquarie University, is using AI agents to pose as scam victims and chat directly with scammers.
By gathering inside info from these conversations, Apate helps banks and telecoms spot new scams faster and keep people safer.
Apate logged 2.5 million scam run-ins
Apate's bots have already had 2.5 million run-ins with scammers, wasting about 17 years of their time.
Their efforts have helped the Commonwealth Bank cut scam losses by 76%, and an unnamed Australian bank disrupted 22 scam campaigns.
With $8.15 million in seed funding in August, Apate now has its sights set on expanding to London and the US.