It’s the darker side of AI that makes headlines, stories of fraudsters harnessing AI capabilities for their malicious schemes. AI-powered fraud, such as deepfakes of famous celebrities or executives, can often leave you wondering just how secure our digital world really is.
While that is true, there are also extraordinary ways that AI is used to combat fraud and deception. So, is AI a friend or a foe when it comes to fraud?
At its simplest, AI is about building systems that can be much faster and much more accurate than humans using advanced mathematics and large pools of data.
AI’s role in the detection of fraud seems simple: it's about finding fraud in the financial world among the gigan...