Mumbai: Many of us now prefer online shopping owing to bumper discounts and other sale offers. And, we flock to e-commerce portals more during the holiday season. According to a report by PricewaterhouseCoopers, five out of every ten Indian consumers continually track the product prices and review via mobile phones or social media and just three in every ten Indians are willing to buy directly from the brand.
However, the comfort of shopping at a click also has a great peril which is the lurking danger of cyber criminals who may be prying on your every scroll. To give you a safe shopping experience, several fraud risk management companies use artificial intelligence (AI) to shield you from scammers.
Fraud risk management firms use AI to protect against scams
One such company is mFilterIt, which works with OnePlus and Zee. The firm’s co-founder and Chief Executive Officer, Amit Relan, explained how the sophisticated technology keeps cyber fraudsters at bay. “AI-powered solutions help brands detect and prevent fraudulent activities. For example, AI can learn to spot unusual patterns in behavior or transactions that traditional systems might miss”. It can even analyse emails, social media posts or chat messages to find phishing attempts.
