Speech recognition and AI provide innovative methods for businesses to significantly develop and improve their fraud detection systems. With the technology and techniques used by fraudsters rapidly changing, AI can evolve and adapt to provide more comprehensive protection, assisted by the use of machine learning. The acceptance of AI as a crucial asset to fraud detection and prevention is already being recognised, with 31% of CIOs having already reported the implementation of AI systems in their business, and a furth 23% expressing intent to have the technology deployed within the next year. Crucial to the effective implementation of this technology, however, is having a basic understanding of how it functions and will assist business needs.

What are the roles of AI and machine learning in fraud detection and prevention?

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