The rapid advancement of artificial intelligence (AI) has significantly transformed various industries, including the financial sector. This paper explores the integration of AI-driven fraud detection and prevention systems in financial transactions. With the increasing complexity of fraudulent activities, traditional methods have proven to be inefficient. AI, with its ability to analyze vast amounts of data, identify patterns, and learn from previous occurrences, presents a promising solution. We discuss the different AI techniques such as machine learning, neural networks, and natural language processing that are employed in fraud detection. Furthermore, we review the challenges faced by financial institutions in implementing these systems and the ethical considerations involved. Through a comprehensive analysis, this paper highlights the effectiveness of AI in combating fraud and preventing financial losses for both individuals and organizations.
Anderson, D. AI-Driven Fraud Detection and Prevention in Financial Transactions. Information Sciences and Technological Innovations, 2019, 1, 5. https://doi.org/10.69610/j.isti.20191230
AMA Style
Anderson D. AI-Driven Fraud Detection and Prevention in Financial Transactions. Information Sciences and Technological Innovations; 2019, 1(1):5. https://doi.org/10.69610/j.isti.20191230
Chicago/Turabian Style
Anderson, Daniel 2019. "AI-Driven Fraud Detection and Prevention in Financial Transactions" Information Sciences and Technological Innovations 1, no.1:5. https://doi.org/10.69610/j.isti.20191230
APA style
Anderson, D. (2019). AI-Driven Fraud Detection and Prevention in Financial Transactions. Information Sciences and Technological Innovations, 1(1), 5. https://doi.org/10.69610/j.isti.20191230
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