AI and ML in 2017

Customer churn is not the only problem being reduced by machine learning in the financial services sector. Another large focus area where leaders are breaking down barriers is in fraud prevention. Ravelin is a company showing just how effective machine learning can be in the space. The basic idea lies in spotting irregularities across patterns, as fake transactions have different attributes than legitimate ones. This technology also gives a company like Ravelin the ability to predict such fraudulent transactions to occur before they do.