Machine Learning in Finance - Fraud Detection and Risk Management

75waytechnologies25 Sep, 2024Business

In the wake of technological advancement, the social context is changing drastically, especially where the financial sector is concerned particularly when it comes to the aspects of fraud detection and risk management. These innovations include the use of artificial intelligence primarily in the form of machine learning (ML) in an effort to protect the financial institutions? and its clients? assets, and enhance decision making. In this blog, we will describe how machine learning is changing fraud detection and risk management and what advantages companies and customers receive from it.