The rapid growth of ecommerce requires businesses to understand the complexities of digital fraud and how AI tools can help protect their bottom line. AI-based fraud prevention leverages deep data analysis and sophisticated algorithms to detect potential malicious activity quickly and accurately, providing merchants with the added protection they need to maintain business continuity.
The Riskified solution is a leading example of AI-driven fraud prevention, allowing merchants to confidently accept any transaction with virtually no false-positive fraud detections. With automated detection and control mechanisms, the Riskified platform eliminates manual intervention and makes sure that legitimate orders are approved, while suspicious transactions are handled seamlessly. The platform then alerts merchants of suspicious activity and provides suggestions on how to mitigate any associated risks.
Riskified also recently announced its ongoing collaboration with top industry executives for a summit in San Francisco on July 11-12th. This event will bring together leaders from some of the world’s largest ecommerce platforms and is set to explore the opportunities and challenges that AI-driven fraud prevention can bring. Attendees will be able to use the event to discover strategies for building success stories and reducing organization-wide fraud rate, while at the same time gaining greater customer trust by reducing the rate of false-positive declines.
Rohit Prasad, VP of Engineering at Riskified, will be among the representatives at the summit. He is a distinguished expert in AI and its applications in personalization, advertising, and fraud prevention. He has contributed to the development of several products and holds numerous patents in artificial intelligence.
The Riskified AI technology for fraud prevention is transforming ecommerce security and compliance. AI-driven fraud prevention is revolutionizing the way merchants manage risk, protecting them from financial losses as well as from reputational damage. When merchants are able to accurately assess transactions and reject suspicious transactions without breaking the customer experience, they are free to focus their resources on their real goal: growing business.
