GenAI poised for rapid adoption in fight against online fraud, according to researchers

More than 83% of organisations said they intend to use GenAI to combat fraud efforts, according to report. However, there are major challenges to implementing GenAI solutions, with output accuracy a key concern. — SCMP

Generative artificial intelligence (GenAI) technology is poised for rapid adoption in the fight against cybercrime, helping to reverse some of the fraud driven by AI, recent research finds.

More than 83% of organisations said they intend to use GenAI to combat fraud efforts over the next two years, according to a report jointly published by the Association of Certified Fraud Examiners (ACFE) and SAS, a data analytics solution provider.