ARTIFICIAL INTELLIGENCE, QUANTUM COMPUTING AND MATHEMATICAL INNOVATION TO BOOST ANTI-FRAUD ALGORITHMS
November 28th, 2023
The ability of computer algorithms to identify outlier behaviour and indicate potential fraud is becoming stronger as IT specialists, mathematicians and AI develop new applications and techniques, offering anti-fraud professionals better tools to unearth and prosecute financial crime.
A McKinsey report from November 2022 (1) noted how companies are using machine-learning algorithms to assess data to maximise fraud detection through reducing false positives and missed fraud. It recalled how a Brazilian telco (unnamed) uses algorithms augmented by escalation to ...
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