AI-driven fraud detection expert, Omoyeni Ogundipe, has explained how businesses can harness technology to mitigate theft.
She spoke at a news briefing, noting AI-driven fraud detection is a tool to enable businesses stay ahead of fraudsters.
Ogundipe said rising sophistication of fraudsters made businesses adopt AI-driven fraud detection solution.
“Traditional fraud detection methods are no longer sufficient to combat rising theft and fraud. AI-driven fraud detection offers a proactive approach to identify and prevent fraud.”
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Ogundipe noted machine learning algorithms enabled AI-driven fraud detection systems learn from experience and improve accuracy over time.
“By analysing patterns and anomalies in real-time, businesses can stay ahead of fraudsters and protect their assets.”
She stressed the importance of reducing false positives, which could lead to costs and reputational damage.