Another critical area where AI really shines is in detecting and preventing fraud. Large numbers of financial transactions in the bank mean that not all of them will be analyzed properly to know which can be fraudulent or not, thus making it impossible to point out fraudulent activities. Analyzing transaction patterns in real-time, AI flags odd behavior. If a person always buys products from a certain location, but after a while starts buying in overseas locations, AI should raise an alert in that regard to the bank over possible frauds.
Machine learning, a subcategory of AI, is most effecti