How Machine Learning Can Improve Fraud Detection in Real Time - DZone AI

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"Machine learning" is a computer science discipline that refers to the ability for machines to learn with data and carry out tasks that would typically require human intelligence. The technology is growing quickly: according to Gartner, more than half of data and analytics services will be performed by machines rather than human beings by 2022, which is 10 percent more than today. The emergence of machine learning and its implementation into consumer facing applications coincides conveniently with today's real-time economy. Machine learning drives a decrease in fraud before it impacts the victim, just as our society has become as impatient as ever. In fact, more than 60 percent of people increasingly feel that waiting for something that should happen instantaneously impacts their perception of the underlying brand -- which is especially true when it comes to identity or financial fraud.