Data mining, a process that involves identifying patterns and anomalies in large data sets, is widespread among many of today's companies. Experts predict the big data market will reach $103 billion in revenue by 2027, far exceeding 2019's predicted $49 billion. One of the main reasons why data mining is so pervasive is the wide variety of applications it has. Brands across … [Read more...] about 5 Real Applications Of Data Mining
fraud
AI Fraud & AML Summit
Artificial intelligence (AI) has the potential to transform financial institutions (FIs), disrupting every aspect of financial services, from the customer experience to financial crime. AI technology can be utilised by FIs in a number of ways, with anti-money laundering (AML) one of the main areas of focus. FIs can employ AI to analyse large amounts of data, to filter out … [Read more...] about AI Fraud & AML Summit
Psychology of Online Fraud: Why We Fall for Scams and How to Prevent It
It's often said that humans are the weakest link in cybersecurity. I find it hard to disagree with this statement given how many people fall for various scams each year. More money down the drain  According to the FBI, losses to online frauds reached $2.7 billion in 2018, nearly doubling the previous year's figure. This past year, the most prevalent crime types reported by … [Read more...] about Psychology of Online Fraud: Why We Fall for Scams and How to Prevent It
How Artificial Intelligence Is Revolutionizing Insurance
Artificial intelligence has been named a disruptive force in multiple areas, including finance, healthcare, and security. The insurance sector can benefit significantly from these advancements of cognitive technology too. This is made possible with the heaps of data collected by insurance companies and not used to their full potential. In the insurance business vertical, AI can … [Read more...] about How Artificial Intelligence Is Revolutionizing Insurance
How Sorting and Structuring Big Data Along With Using AI Applications Help Insurers Facilitate Business Processes
Companies collect an enormous amount of data that emanates from their business operations on a daily basis. The data is held in their databases so that it can be used to create value. It may be stored to facilitate marketing or improve certain areas of the enterprise making operations more efficient. However, even with advanced artificial intelligence and data storage … [Read more...] about How Sorting and Structuring Big Data Along With Using AI Applications Help Insurers Facilitate Business Processes
