Fighting Fraud with Men, Machines and Data
According to Juniper Research, online transaction fraud will reach $25.6 billion by 2020, up from $10.7 billion in 2015. Well known fraud management systems based on rules require more manual intervention and the entire process is time consuming. Moreover, Fraudsters adapt, evolve, get clever and change their approaches in response to innovations in fraud management. In a world rapidly moving to online marketplaces, fraud detection and prevention becomes more challenging if this fraudulent activity is being perpetrated by the very participants of the marketplace. This talk will focus on how marketplaces could combat collusion fraud using Artificial Intelligence and Big Data. Participants will walk away with an understanding of frameworks where AI techniques can be applied to combat fraud in their relevant domains.
This session will discuss:
- How AI and Big Data can help fight fraud;
- Increasing automation and optimizing manual intervention in fraud detection and prevention: striking a balance;
- The process and frameworks to take machine learning/deep learning from the drawing board to reality;
- Real world experiences in using cutting edge techniques to fight fraud