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The whole world is watchingAI.
As this democratization continues, so does the risk AI carries.
(Image credit: Shutterstock)
It will become far easier for individuals to attempt fraud through deepfakes, advanced algorithms and other methods.
But businesses are not defenseless.
Far from it, in fact.
Identity verification
The power of machine learning comes into play from the moment a customer is onboarded.
There are many assets to track upon interacting with customers, from personal information to biometrics.
And as the number of customers rises, keeping up with the influx of data can be challenging.
A problem machine learning solves.
CTO and Co-founder of Sumsub.
Deepfake detection
As mentioned, generative AI does have a dark side.
Luckily, ML and generative AI can defend against this.
Deepfakes are not foolproof, leaving behind telltale signs things are not what they seem.
There are certain visual artefacts created by deepfakes not found in authentic forms of media.
These include inconsistent facial expressions, distortions and other unnatural movements.
In fact, some artefacts may not be visible to the human eye.
Machine learning algorithms can identify these by looking for specific characteristics that the deepfake creation process introduces.
Document verification
Document fraud is rampant.
But generative AI can be trained to analyze commonly forged documents to look for inconsistencies.
These models extract qualities indicative of forgery, including watermarks, stamps and other clear signatures.
A large part of official documentation comes via signatures, a historically popular method of fraud.
Like fraud, machine learning compares signed documents to reference signatures.
ML comes to the rescue once again, dramatically improving the odds of catching a falsified attempt or purchase.
Machine learning also comes into play to combat a recent trend: Money muling.
Algorithms can process and detect anomalies in individual transactions, customer profiles and even historical trends.
Analyze, track and attack
At its core, AI is a relentless task machine.
Analyzing data, tracking it against existing information, and flagging when there is cause for concern.
Companies can use this to their advantage when tackling fraud.
Businesses are not powerless in the face of ML or generative AI.
As the saying goes, if you cant beat em…well, you know the rest.
We’ve featured the best encryption software.
The views expressed here are those of the author and are not necessarily those of TechRadarPro or Future plc.
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