It is not something – companies are using AI and ML to fight financial fraud. Financial fraud is not science fiction. AI solutions can be applied to enhance security throughout business sectors, like retail and finance. The latest emergency technologies are driving transformation across all industries in virtual terms and disciplines and assisting them in streamlining internal processes for better efficiencies. Streamlining processes makes sense of big data which uses to drive intelligent decision making and build new, hi-tech services to deliver seamless customer experience.
Financial services are one of the sectors where AI and machine learning are impacted. When it comes to fraud, cyber-criminals try their best to access customer accounts. AI and machine learning can protect companies and individuals from such attacks.
One of the most interesting and key features of ML algorithms is that the technology has the potential to analyze large amounts of transaction data and malicious transactions accurately in real-time. The approach used by technology detects the complex patterns that cannot be easily identified by analysts,