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How can AI be used to detect fraudulent activities in finance?



How can AI be used to detect fraudulent activities in finance?..

Answer / Jitendra Verma

AI is employed in finance for fraud detection by analyzing patterns and anomalies in financial transactions. Machine learning algorithms like Support Vector Machines (SVM) or Decision Trees can learn from historical data about normal transaction behavior and identify unusual activities that may indicate fraud, such as large, unexpected transfers or multiple small transactions.

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