How AI and machine learning can turn the tide of fraud - Fintech News

These investments are paying off, according to fraud prevention specialists, as 80 per cent of experts say AI reduces payments fraud and 63.6 per cent of financial institutions cite AI as a valuable tool for halting fraud before it succeeds. These systems are commonplace at large banks that have more than $100 billion in assets -- 72.7 per cent of which leverage AI -- but only 5.5 per cent of all financial institutions reportedly have an AI-based system in place.