OVERCOMING FRAUDELENT ACTIVITIES WITH THE HELP OF AI - WEEK 2 (PUTERI HANNAH)

 

Artificial Intelligence (AI) is a type of ability possessed by a digital computer to solve problems that is

considered to be intelligent if executed by a human. One of the biggest problems that can be seen a lot

nowadays in our world surrounded by ever-evolving technology is the growth in fraudulent activities

that acts as a significant threat to businesses and our daily life. Based on one of the issues of The Star,

the executive chairman of Securities Commision Malaysia (SC) stated that in between 2020 and 2022,

there was a 100% rise in the total number of fraud-related complaints. 

Therefore, AI plays a role in overcoming this problem. AI is able to use Machine Learning to detect

fraud patterns in online activities and allows them to predict any future fraudulent activities. Users of the

Internet should be aware of fraudulent activities and can download tools such as LifeLock on their

digital devices where AI is able to monitor any potential fraudulent threats and suspicious activities.

On the other hand, businesses should invest in robust data infrastructure that implement AI fraud

detection and employees must be sent to courses related to AI so that they are able to handle the

technology. 

In conclusion, the relationship between AI and human vigilance holds a potential in combating

fraudulent schemes that happen everywhere now. By having the predictive capabilities of AI and

sharing it with human expertise and awareness, this can form a defense against fraudulent activities,

ensuring a safer and more secure digital ecosystem for all.

        

                                                           Figure 1 Artificial Intelligence

REFERENCES:

Online, S. (2023, May 26). Malaysia recorded a significant rise in online fraud cases since 2020, says SC chairman. The Star. https://www.thestar.com.my/news/nation/2023/05/26/malaysia-records-significant-rise-in-online-fraud-cases

Trisha. (2024, February 13). 7 Tough business challenges to solve with artificial intelligence. Passionate

            Design Agency. https://passionates.com/7-tough-business-challenges-that-you-can-solve-with-

            artificial-intelligence/

Comp   Computer_Science, M. (2020, July 10). AI:Is artificial intelligence our friend or foe?    

                         https://aitechnology1234.blogspot.com/2020/07/aiis-artificial-intelligence-our-friend.html