From identification to authentication to anomaly detection to fraud prevention – the entire process will have to be enhanced exponentially with intelligent real-time tech that can synthesize collective wisdom from across systems.
The old story of AI is about human brains working against silicon brains. The new story of IA will be about human brains working with silicon brains. As it turns out, most of the world is the opposite of a chess game: Non-zero-sum — both players can win.
Besides helping detect fraud syndicates, AI-based real-time, cross-channel anti-fraud technology can help decline loans or keep an eye on the borrower and restrict them or favor them according to their credit risk and fraud risk ratings.