How Ai Is Revolutionizing Fraud Detection In Financial Transactions And Processes

Enterprises are increasingly turning to AI techniques to detect fraud more effectively. Machine Learning and Deep Learning are two of the most popular AI techniques being used for fraud detection. Machine Learning algorithms can process vast amounts of data to identify patterns and protect businesses from fraudulent activities. Deep Learning models can be used to prevent card-related fraud and minimize the occurrence of false declines. Tech giants such as Facebook, Amazon, Apple, Netflix, and Google have been utilizing proprietary AI tools to enhance both front-end and back-end business processes for some time.