How does AI contribute to fraud detection in online transactions?
- AI can't effectively detect fraud in online transactions.
- AI only helps in transaction processing.
- AI relies solely on human intervention for fraud detection.
- AI uses machine learning algorithms to identify unusual patterns and flag potentially fraudulent transactions.
AI contributes significantly to fraud detection in online transactions by using machine learning algorithms to detect unusual patterns in transactions. It can analyze vast amounts of data in real-time, identify potential fraud, and trigger alerts for further investigation.
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