With Artificial Intelligence (AI) and Machine Learning (ML) infiltrating everything around us, it’s no surprise that Hollywood uses AI and ML as the focus in some of their biggest blockbusters. Films such as Stanley Kubrick’s 2001: A Space Odyssey, Paul Verhoeven’s RoboCop, and Alex Proyas’ I, Robot portray how AI and ML are no less immune to good and evil than the oldest of Hollywood plots.
Shifting away from Netflix’s famous, “Are you still there?” prompt, we may be left with the question, what exactly are AI and ML? Does it all end in evil robot takeover? What can we gain from this modern form of technology? Simply put, Artificial Intelligence gives us the ability to teach computers how to think, react, and even mimic human behavior. Machine Learning, a subset of AI, can teach and ultimately reprogram itself. It may sound alarming to imagine a computer thinking as humans would, but when used correctly, AI and ML can open up an entirely new set of opportunities and achievements.
Over the past decade, AI has been introduced in hospitals for a range of uses – from interpreting MRIs, X-rays, and CT scans to help improve diagnoses, to conducting the most delicate of surgeries. We see it in self-driving cars, in sports analytics and activities, and in security and surveillance. For many of us, Alexa, Siri, and Google Assistant have even made it a tool of convenience in our homes. With the ability to sift through enormous amounts of data in fractions of the time that would otherwise be spent, AI can catch the things the human eye may miss.
At LATRO, we understand that fraud happens fast. To combat it, we developed targeted AI and ML algorithms and introduced it to the industry as a leading fraud detection solution. In a constantly evolving fraud environment, our LATRO fraud analysts couple their instinct and knowledge with our AI/ML Versalytics Solution to achieve an even higher rate of fraud detection success, a level that was simply unattainable just a few years ago. Our analysts take a hands-on approach to ensure they teach the machine exactly what to look for and do.
To learn more, see below for our official Artificial Intelligence and Machine Learning White Paper, free for download. This White Paper explains in greater depth how LATRO uses AI/ML within our fraud solutions.