AMANKnowledge Contributor
How does the adoption of AI in finance improve fraud detection and risk management?
How does the adoption of AI in finance improve fraud detection and risk management?
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AI improves fraud detection and risk management in finance by analyzing large datasets to identify unusual patterns and behaviors that may indicate fraudulent activity. Machine learning algorithms can detect anomalies more quickly and accurately than traditional methods. AI also helps in assessing credit risk by analyzing more complex data, leading to more informed lending decisions and reducing financial losses.