Companies starting to use AI technology to fight fraud

Companies are beginning to employ advanced technologies such as artificial intelligence and machine learning to uncover fraud, according to a new report. The report, from the Association of Certified Fraud Examiners and analytical technology provider SAS, found that 13 percent of organizations currently use AI or machine learning to help fight fraud. Meanwhile, 25 percent of organizations expect to adopt that technology in the next year or two. The use of AI and machine learning as part of anti-fraud programs is expected to almost over the next two years. The report also found that 26 percent of organizations currently use biometrics as part of their anti-fraud programs, and another 16 percent expect to deploy biometrics as part of their programs over the next two years.