Visa Leverages AI To Prevent $40B In Fraud: How Machine Learning Is Combatting The Surge In Cybercrime And AI-Driven Scams

Quick Summary:

What Happened: James Mirfin, global head of risk and identity solutions at Visa, informed CNBC that the company has utilized AI and machine learning to combat fraudulent activities, which have nearly doubled from the previous year.

Visa Inc (NYSE:V) has successfully leveraged artificial intelligence and machine learning to prevent $40 billion in fraudulent activities, according to a company executive.

Visa has managed to prevent $40 billion in fraudulent activities from October 2022 to September 2023, which is almost twice the amount from the previous year, Mirfin said.

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Category: Technology

Markets: United StatesHong Kong

Topics: Benzinga Markets Equities US92826C8394 V Tech Machine learning Artificial intelligence Fraud News Kaustubh Bagalkote

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Published On: 2024-07-26 @ 03:31:30 (11 hours ago)

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