Why companies should use AI for fraud management, detection

Several use cases for AI in fraud detection and management were discussed in the report. For example, AI can improve the accuracy of transaction monitoring. The analysts described how financial services provider FIS worked with Brighterion, an AI company owned by Mastercard, to improve its anti-money laundering capabilities. The provider now uses AI to vet risk when onboarding new vendors, for example. In other use cases, AI can improve the efficiency of fraud investigations by streamlining and prioritizing alerts.