This article analyses the impact of artificial intelligence, and in particular deepfake technology, on the economy. The aim of this paper is to assess whether current legal regulations at European level provide sufficient protection against the threats posed by technological development. The author presents cases in which deepfake technology can be used to extort funds or carry out other unethical activities. Key issues include the role of EU regulations – such as the Artificial Intelligence Act – in countering economic threats. Furthermore, the author highlighted the need for legislative changes that will address existing legal loopholes whilst reducing the scope of obligations imposed on businesses. It was noted that legal regulations concerning artificial intelligence are essential – whilst acknowledging that maintaining an adequate level of innovation among European businesses poses a significant challenge.
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