How Visa employed artificial intelligence to check $40 billion in fraud as scammers also take to AI
Publishing timestamp: 2024-07-25 20:11:54
Summary
Visa is using artificial intelligence and machine learning to counter fraud, preventing $40 billion in fraudulent activity from October 2022 to September 2023. Fraudsters are using generative AI to make scams more convincing, leading to unprecedented losses for consumers. Visa's AI models help detect and prevent enumeration attacks and fraudulent transactions, while cybercriminals are turning to generative AI, voice cloning, and deepfakes to scam people.
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Keywords: business news, crime, breaking news: technology, visa inc, technology,