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How to Kickstart an AI Venture Without Proprietary Data

#artificialintelligence

A few years ago, I learned about the billions of dollars banks lose to credit card fraud on an annual basis. Better detection or prediction of fraud would be incredibly valuable. And so I considered the possibility of convincing a bank to share their transactional data in the hope of building a better fraud detection algorithm. The catch, unsurprisingly, was that no major bank is willing to share such data. They feel they're better off hiring a team of data scientists to work on the problem internally. My startup idea died a quick death.