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Hybrid AI-Human Models Sharpen Fraud Response - PYMNTS.com
Hybrid AI-Human Models Sharpen Fraud Response
In the field of artificial intelligence (AI), the integration of both human and machine intelligence is becoming increasingly important, and nowhere is this more evident than in the battle against fraud. Hybrid AI-human models are proving to be a powerful tool in the fight against financial crime, enhancing the accuracy and speed of fraud detection and highlighting how combining expertise from both human and AI professionals can result in a more powerful force.
One example of this hybrid approach is in the field of credit card fraud detection. AI technology can analyze vast amounts of data in a fraction of the time it would take a human to review it, quickly identifying suspicious activity and flagging it for further investigation. However, where AI excels at data processing, humans shine at critical thinking and decision making.
Humans have fine-tuned judgement and intuition, which often can't be matched by even the most sophisticated AI models. By bringing together the cognitive abilities of a carefully trained team of analysts and the computational speed of AI, the result is a rounded, balanced approach to fraud detection.
The use of hybrid AI-human models not only enhances fraud detection capabilities but also speeds up the response time. Given the rapid nature of many types of financial fraud, the faster the fraud is detected and the quicker the appropriate response is implemented, the better the chances of preventing any financial loss.
Moreover, the adoption of AI models has also alleviated some of the workload and pressure for those tasked with the fraud detection and prevention. Humans can retain their most critical cognitive functions, such as complex decision-making and high-level judgment, rather than spending hours on tedious, repetitive data sifting.
In conclusion, the integration of human and AI intelligence in financial fraud detection and prevention is proving to be a powerful combination.
Source: "artificial intelligence" - Google News, Link
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Posted by ghostaidev Team