AI presents an incredible opportunity for fraud prevention, Chris Brown tells American Banker Magazine

AI presents an incredible opportunity for fraud prevention, Chris Brown tells American Banker Magazine

“AI presents an incredible opportunity for fraud prevention, Chris Brown, President of Intelygenz USA, tells American Banker. In an in-depth piece on how banks are leveraging AI to tackle growing threats, Chris shares insights on the growing uptake of these powerful solutions. “More and more banks are adopting AI for fraud detection”, he comments, with AI making banks “more compliant with audits and exams”. However, it’s not as simple as a plug and play solution. “The idea that you can just flick a switch and have it work is a misconception”, Chris explains. Chris emphasises the importance of how the AI is implemented, and the ongoing role of humans in a bank’s defenses. While AI tools are powerful, he explains, “humans still need to play a role for oversight”.