Norton unveils AI scam protection across its products

TEMPE, Ariz. - Norton, a division of Gen Digital Inc. (NASDAQ: GEN), a $16.8 billion market cap cybersecurity leader with impressive 80% gross margins, announced today the launch of new AI-powered features within its Norton Cyber Safety products to combat the rise in scams and social engineering threats. According to InvestingPro analysis, the company maintains a "GOOD" overall financial health rating, suggesting strong operational stability. The company’s latest initiative includes Genie Scam Protection and Genie Scam Protection Pro, which are designed to safeguard users from fraudulent activities across texts, phone calls, emails, and the web.

With scams identified as the source of 90% of all cyberthreats, a significant increase from 2021, Norton’s enhanced features aim to provide consumers with robust protection. The Norton Genie AI scrutinizes the content of messages to detect scam patterns that might elude even the most vigilant individuals. This strategic move aligns with the company’s steady revenue growth of 3.12% over the last twelve months, reaching $3.9 billion. For deeper insights into Gen Digital’s growth metrics and financial performance, check out the comprehensive Pro Research Report available on InvestingPro.

Leena Elias, Chief Product Officer at Gen, emphasized the sophistication of modern scams and the necessity of AI technology to counteract them. According to Elias, the AI-powered scam protection built into Norton products delivers an essential defense mechanism for customers’ digital and financial security. The top-tier Norton 360 with LifeLock Ultimate Plus plan also includes scam support and reimbursement coverage.

The new features are included at no extra cost in various Norton Cyber Safety products and are available on both desktop and mobile platforms. These features encompass Safe SMS, which analyzes text message content for scam indicators, and Safe Web, which offers enhanced AI scam protection during online activities. The Genie AI-powered Scam Assistant provides instant guidance on potential scams, while the Norton Private Browser blocks phishing attempts and unwanted ads.

For Norton 360 with LifeLock customers, Genie Scam Protection Pro adds Safe Call for blocking or labeling scam calls and Safe Email for preemptive scam detection in emails. These customers also benefit from scam support and reimbursement assistance.

As of today, these features are accessible in the US, with plans to extend them to the UK, Australia, and New Zealand. Norton has also previewed future innovations at the Consumer Electronics Show, hinting at further integration of deepfake and scam detection technologies. Based on InvestingPro’s Fair Value analysis, Gen Digital appears slightly undervalued, suggesting potential upside as these new technologies roll out globally. Discover more undervalued opportunities at Investing.com’s Most Undervalued Stocks.

This announcement is based on a press release statement from Gen Digital Inc. Current Norton customers will see these new scam protection features rolled out gradually. For more information on avoiding scams, individuals are encouraged to visit the Norton website.

In other recent news, Gen Digital Inc. reported solid financial results for the third quarter of 2024, with revenue reaching $986 million, a 4% increase compared to the previous year. The company’s net income rose by 11% to $350 million, while earnings per share grew by 15% to $0.56. Gen Digital also announced its intention to offer $1.1 billion in senior notes due in 2033, aiming to repurchase its outstanding 5.00% Senior Notes due in 2025 and support general corporate activities. In addition, Gen Digital launched innovative AI-powered scam detection tools, further expanding its direct customer base to 40.1 million. The company provided a positive outlook for the full year, with revenue guidance between $3.915 billion and $3.930 billion and non-GAAP EPS expected to grow by 14-15%. The acquisition of MoneyLion is anticipated to enhance Gen Digital’s financial wellness offerings, although integration challenges could arise. Analyst firms like UBS and Wells Fargo (NYSE:WFC) have shown interest in Gen Digital’s retention rates and synergies from the MoneyLion acquisition.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.