Top 9 Ways Artificial Intelligence Prevents Fraud

Rule-based engines and simple predictive models could identify the majority of fraud attempts in the past, yet they aren't keeping up with the scale and severity of fraud attempts today. Fraud attempts and breaches are more nuanced, with organized crime and state-sponsored groups using machine learning algorithms to find new ways to defraud digital businesses. Fraud-based attacks have a completely different pattern, sequence, and structure, which make them undetectable using rules-based logic and predictive models alone. What's needed to thwart fraud and stop the exfiltration of valuable transaction data are AI and machine learning platforms capable of combining supervised and unsupervised machine learning that can deliver a weighted score for any digital business' activity in less than a second. AI is a perfect match for the rapid escalation of nuanced, highly sophisticated fraud attempts.