After ruining lives of celebrities with fabricated videos, deepfakes are now being channelled against CEOs to steal millions from companies, which are not even ready to combat them.

According to Axios, criminals are using deepfakes to impersonate business chiefs. Currently, only AI-generated audio is being used. However, it is not difficult to guess the repercussions of a deepfake audio clip of someone such as Elon Musk to send the company's stock fluctuating in an instant.

Security researchers have already witnessed successful deepfake audio attacks on private companies, in which fabricated audio from the 'CEO' asks a senior financial official to transfer money. Millions of dollars have been stolen in these attacks.