In an interview from Motley Fool Live, recorded on June 30, Arkose Labs CEO Kevin Gosschalk answers a question about how artificial intelligence is being used to fight fraud on a global scale.
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Kevin Gosschalk: With regards to using artificial intelligence, we use machine learning very heavily, and that’s just because of the sheer volume of traffic we’re looking for adversaries and their trends can be quite low volume compared to the aggregate. Maybe there’s a company we’re working with where they have a billion accounts being created a year. A good portion of that might be fraudulent, but you’ve got to find one of the signatures and telltales. If you are doing that by hand that volume, not going to be a very effective product, so we use technology to help us assist and find commonalities between bad activity and good activity.
Our customers can reinforce that by sharing data back to us, like if an account goes on to say a chargeback in the context of e-commerce, they can actually share back and say, you missed this one. Then we can use machine learning to basically look for similar other accounts. We have one customer where they shared with us a few hundred samples of missed accounts and we found thousands of others using these technologies because it can compare and contrast those datasets automatically, which is a great solution for combating fraud and abuse.
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