Paypal using homegrown artificial intelligence engine built with open-source tools to detect suspicious activity, as well as separate false alarms from true fraud

Briefing

Paypal using homegrown artificial intelligence engine built with open-source tools to detect suspicious activity, as well as separate false alarms from true fraud

January 26, 2016

Briefing
  • PayPal AI Engine – Boosts security using open-source AI engine to detect suspicious activity through deep learning, which is able to notice possible fraud without making mistakes by mining algorithm data from customer’s purchasing history
  • Human-Based Intelligence – Detectives train themselves by examining real-life cases from fraudsters and law-abiding citizens that have previously triggered alerts, and feeding insights to artificial intelligence program, enabling assessment if activity is false alarm or not
  • Expected Outcome – Has already cut false alarm rate in half and expects banks to slowly follow in adopting AI for anti-fraud operations

Accelerator
Artificial Intelligence, Cybersecurity

Business Model and Practices

Business Model
and Practices
Data, Interfaces and Algorithms

Sector
Financial Services

Organization
PayPal Inc.

Source

Original Publication Date
January 25, 2016

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