Security News > 2021 > November > How AI fights fraud in the telecom industry

In 2021, over 59 million Americans said they lost money as a result of phone scams, with an average reported loss of $502. "Fraud is a major consideration in the telecom industry," said Dr. Gadi Solotorevsky, CTO at Amdocs cVidya, an AI solutions provider.

In past practice, the telecom industry handled fraud complaints manually.

Manual investigations of fraud consumed considerable time before fraud patterns could be identified.

With artificial intelligence, there is a new approach to fraud detection that not only reduces time to discovery, but limits the window for fraud losses.

With ML, AI fraud detection models can adapt and create new rules for fraud detection, which in turn reduce the exposure to fraud and monetary losses.

"In a case study performed by TM Forum and Amdocs, Bell Canada experienced a 150% improvement in the time it takes to detect fraud losses in a significant portion of its fraud, and a 200% improvement in the time required to identify new fraud schemes," Solotorevsky said.

News URL

https://www.techrepublic.com/article/how-ai-fights-fraud-in-the-telecom-industry/#ftag=RSS56d97e7