More and more in society, deepfake technology leverages artificial intelligence to create convincing fake audio and video clips and is evolving rapidly. These technologies not only pose significant threats to personal and organizational cybersecurity programs but also present unique challenges and opportunities in the realms of IT and cybersecurity. This presentation delves into the complexities of deepfakes, offering insights into their creation and detection. With a focus on informing IT professionals, cybersecurity practitioners, CIOs, and CISOs, we will explore the latest tools and techniques used to generate and identify deepfakes while providing practical guidance on mitigating associated risks.