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How AI Used in Fraud Detection? Benefits, Techniques, Use cases

Knowledge Hut

The tactics of fraud grow in tandem with the financial landscape. On the plus side, artificial intelligence (AI) and machine learning (ML) have emerged as effective methods for combating fraud. To make the concepts more concrete, I will also provide my observations, real-life experiences, and case studies.

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Real-World Use Cases of Big Data That Drive Business Success

Knowledge Hut

Big Data Use Cases in Industries You can go through this section and explore big data applications across multiple industries. Clinical Decision Support: By analyzing vast amounts of patient data and offering in-the-moment insights and suggestions, use cases for big data in healthcare helps workers make well-informed judgments.

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Machine Learning for Fraud Detection in Streaming Services

Netflix Tech

Many users across many platforms make for a uniquely large attack surface that includes content fraud, account fraud, and abuse of terms of service. Detection of fraud and abuse at scale and in real-time is highly challenging. There are two main anomaly detection approaches, namely, (i) rule-based, and (ii) model-based.

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Data Engineering Weekly #164

Data Engineering Weekly

Companies are more open to adopting Gen AI for their internal use cases but have reservations about rolling it out to their clients. MES framework evaluates model quality across various lifecycle stages—prototyping, training, deployment, and prediction—using Service Level Agreement (SLA) principles.

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Transforming Application Integration for BigQuery with Striim: The Stripe Connector

Striim

Striim Cloud for Application Integration provides a crucial solution to this issue, designed to improve the connectivity and usefulness of these applications by enabling their smooth integration into Google Cloud’s BigQuery. By identifying anomalies or suspicious activities as they happen, businesses can mitigate risks more effectively.

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Data Science in FinTech: Roles, Use Cases, and Benefits

Knowledge Hut

When you use PayPal, Google Pay, or your credit card to pay online, you, the consumer, the e-commerce company, as well as the bank are all using FinTech to complete the transaction. Data is not useful until it is transformed into valuable information. Data science models use historical data and can predict future actions.

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Anomaly Detection with Machine Learning Overview

Knowledge Hut

Machine learning for anomaly detection is crucial in identifying unusual patterns or outliers within data. By learning from historical data, machine learning algorithms autonomously detect deviations, enabling timely risk mitigation. What is Anomaly Detection? Why do You Need Machine Learning for Anomaly Detection?