Artificial intelligence for fraud detection is bound to save billions – CTOvision

Original article can be found here (source): artificial intelligence

Read Tibi Puiu explain how artificial intelligence can help companies to save millions through fraud detection on ZME Science :

Fraud mitigation is one of the most sought-after artificial intelligence (AI) services because it can provide an immediate return on investment. Already, many companies are experiencing lucrative profits thanks to AI and machine learning (ML) systems that detect and prevent fraud in real-time. According to a new report, Highmark Inc.’s Financial Investigations and Provider Review (FIPR) department generated $260 million in savings that would have otherwise been lost to fraud, waste, and abuse in 2019. In the last five years, the company saved $850 million.

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