Man Vs. Machine - Latest Thinking Blog

Machine learning has become an invaluable tool in the fight against fraud. It combines computational statistics, artificial intelligence, signal processing, optimisation, and other methods to identify patterns. Machine learning has been a significant breakthrough in helping companies move from reactive to predictive by highlighting suspicious attributes or relationships that may be invisible to the naked eye but indicate a larger pattern of fraud. The great value of machine learning is the sheer volume of data that computers can analyse that humans cannot, thanks to a variety of pattern recognition algorithms. With this you can add exponentially more data to your analysis -- but selecting the right data and approach to model the problems is critical. A solid solution also requires specialised expertise to apply rigorous methodology in data analysis and develop the fraud models to ensure consistent quality.