Savi Security launches app to combat AI-generated scams targeting consumers
Savi Security, founded by brothers Patrick and Ryan Coughlin, has launched an app designed to protect consumers from sophisticated AI-generated scams. The app, which follows the success of their free website Scam Wise, offers features like live-call monitoring and is available for both iPhone and Android users.
Savi Security has raised $7 million in seed funding to develop its consumer protection app against AI scams.
The app was inspired by a personal incident where a scammer spoofed a family member's voice and phone number to extort money.
The company aims to provide real-time intervention tools to help users identify scams through features like live-call monitoring, which allows an agent to listen in on suspicious conversations.
Savi's subscription model is priced at $8 per month or $63 per year, covering an entire family without user limits.
The rise of AI technology has made it easier for scammers to target individuals, leading to significant financial losses reported by the FTC in recent years.