Fraud is a major concern for businesses of all sizes, and the impact can be devastating. In fact, the Association of Certified Fraud Examiners estimates that businesses lose 5% of their revenue to fraud each year. That's a staggering amount that can significantly impact on a company's bottom line. Fortunately, there's a powerful tool that can help businesses reduce the risk of fraud: artificial intelligence, or AI.
What is AI and how does it work? AI is a technology that enables computers to learn from data and make predictions or decisions based on that learning. AI algorithms can analyze large amounts of data and identify patterns and anomalies that humans may not be able to detect. This makes AI a powerful tool for detecting potential fraud.