
Workers fear artificial intelligence because it can take over their jobs. Another reason to fear AI is that it can monitor and track employee conversations.
An AI tool developed by startup Aware is used “to help monitor public comments and interactions on Chevron’s internal Workplace platform and helps watch Starbucks’ internal social platforms for trends or feedback, CNN reports.
At Walmart, the Aware software tracks the inappropriate behavior of employees as well as trends among them.
Cybersecurity company Proofpoint uses similar AI technology to monitor if an employee of Fortune 100 companies is downloading and sending sensitive work data to their personal email account, according to CNN.
However, a traditional snooping method remains in use and is as reliable as AI-powered surveillance software.
Tyler Loudon of Houston, Texas, capitalized on the old-fashioned eavesdropping technique and made $1.76 million through a stock sale last year. Unfortunately, the US Securities and Exchange Commission filed charges against 42-year-old Loudon for “violating the antifraud provisions of the federal securities laws,” NBC News reports.
The US Attorney’s Office for the Southern District of Texas announced criminal charges against Loudon, who readily admitted to his crime. According to NBC News, he will be sentenced on 17 May and face up to five years in federal prison, as well as a $250,000 maximum fine and forfeiture of the $1.76 million in favor of the government.
Loudon’s crime stemmed from listening to his wife’s work-from-home calls about British Petroleum’s acquisition of Travel Centers of America Inc. He then bought 46,450 shares of TCAI before the acquisition was announced on 16 February.
His wife, a BP mergers and acquisitions manager, was unaware of her husband’s investment.
TCAI shares rose nearly 71 percent when the acquisition was announced, and Loudon sold his shares to rake in $1.76 million in illegal profits.