Fraud is a significant problem in the banking industry, with billions of dollars lost each year due to fraudulent activities. Traditional fraud detection methods are no longer sufficient, as fraudsters have become more sophisticated in their techniques. As a result, banks are turning to advanced technologies such as artificial intelligence (AI) and quantum machine learning to enhance their fraud detection capabilities.
AI has been a game-changer in the banking industry, with its ability to analyze vast amounts of data in real-time. Machine learning algorithms can detect patterns and anomalies in data that would be impossible for humans to identify.