Visa on using advanced AI such as unsupervised learning to fight fraud

Join executive leaders at the Data, Analytics, & Intelligent Automation Summit, presented by Accenture. The thing about fraud is that it's constantly changing -- looking at a past attack doesn't guarantee the next attack will look the same or target the same kind of victim -- and defenders have to continuously adapt. Visa utilizes artificial intelligence to analyze all of the transactions that go across the network and track large-scale transactional changes as part of its fraud detection efforts, Melissa McSherry, Visa's senior VP and global head of data, security, and identity products, said at VentureBeat's Transform 2021 virtual conference on Monday. Visa scores all of the transactions that go across the Visa network, which allows the company to define a set of behaviors that would be considered "normal." The team is "constantly" updating the model's view of history and updates the model itself to reflect the data on a fairly regular basis, McSherry said.