Banks worldwide are expected to spend an additional $31 billion on artificial intelligence (AI) embedded in existing systems by 2025 to reduce fraud, according to a report. Similarly for banking executives worldwide, fraud management is featured strongly as a priority, the IDC report mentioned. "In the process of coming up with digital products and services, new channels, and new payment methods, businesses might be overestimating the adequacy of their current defense mechanisms against fraud," said Michael Araneta, Associate Vice President, IDC Financial Insights. "What worked well before simply would not be enough now in the more digital world of business. There needs to be a constant upgrade of fraud management capabilities," Araneta added.

Artificial Intelligence (AI) powered solutions may soon make roads in India safer to drive. A unique AI approach that uses the predictive power of AI to identify risks on the road, and a collision alert system to communicate timely alerts to drivers, to make several improvements related to road safety, is being implemented in Nagpur City with the objective of bringing a significant reduction in the number of accidents. A project, 'Intelligent Solutions for Road Safety through Technology and Engineering' (iRASTE), has been launched to identify potential accident-causing scenarios while driving a vehicle and alert drivers about the same with the help of the Advanced Driver Assistance System (ADAS). The project will also identify'grey spots', i.e., by data analysis and mobility analysis by continuously monitoring dynamic risks on the entire road network. Grey spots are locations on roads, left unaddressed could become black spots (locations with fatal accidents).

With deep and exclusive reporting, across hundreds of interviews, New York Times Silicon Valley journalist Cade Metz relates the modern history of artificial intelligence (AI) in "The Genius Makers: The Mavericks Who Brought A.I. to Google, Facebook, and the World" (Penguin). The book brings forth a compelling narrative that does not only put into perspective what AI means to us humans, but also tells a definitive story of how a project confined to the fringes of scientific community became a buzzword for humanity. Long dismissed as a technology of the distant future, artificial intelligence was a project once consigned to the fringes of the scientific community. Then two researchers changed everything. One was a 64-year-old computer science professor with a back problem so severe he could not drive or fly.