BASINGSTOKE, England, Nov 21 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found global business spend on AI-enabled financial fraud detection and prevention strategy platforms will exceed $10 billion globally in 2027; rising from just over $6.5 billion in 2022.
Growing at 57% over the period, the report predicts that as fraudsters become more sophisticated in their attacks, merchants and issuers will become more adept at utilising highly advanced AI-enabled fraud detection methods to combat crime. The report identified the ability of AI to recognise fraudulent payment trends at scale as being critical to provide improved fraud prevention.
