Brianna White

Administrator
Staff member
Jul 30, 2019
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To stay a step ahead of the bad guys, businesses are leveraging artificial intelligence (AI)-powered automation to identify patterns of suspicious activity and thwart issues that can cause organizational, financial, and reputational harm.
It’s an unfortunate reality that economic uncertainty ignites fraudulent activity. According to the Nations on Occupational Fraud and Abuse, organizations lose 5% of revenue to fraud each year, totaling more than $4.7 trillion lost to fraud globally. That number is expected to continue climbing as desperation fuels criminal activity in the face of a vulnerable economy challenged by a looming recession, interest rate hikes, and bank volatility.

To stay a step ahead of the bad guys, businesses are leveraging artificial intelligence (AI)-powered automation, including machine learning (ML) and automated decisioning, to identify patterns of suspicious activity and thwart issues that can cause organizational, financial, and reputational harm.

Why AI is Key in Helping Fight Fraud​

As economic volatility persists, it is crucial for any organization to bolster its fraud management and mitigation approach. AI can provide fast, accurate, and cost-effective defense that not only helps detect fraud in real time but can also prevent it from happening in the first place —all without compromising the customer experience.

Continue reading: https://www.rtinsights.com/how-ai-helps-businesses-fight-fraud/