4 years ago
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AI to Detect & Prevent Financial Fraud
The banking industry is undergoing a transition from traditional paper-based system to digital payments. The problem with this new system is that it's not foolproof and can be hacked easily. Banks are constantly looking for ways to prevent fraud and detect fraudulent activity on their systems. This is where artificial intelligence comes into play.
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One could wonder if there is any digital system that is not as fraude-sensitive than centralized fiat money? What we are watching the past twenty years is a combination of changing to a multi-polar world and the decline of old industries and systems. Or, as smart people like to call it, progress. What those old-school banks/industries are doing is a frustrated attempt to keep their power, no matter what.