Year: 2024
Type: article
Abstract: Fraud is a major concern for businesses, particularly in retail and healthcare, where it can lead to significant financial losses and damage to trust. Traditional fraud detection methods often fall short in addressing the sophisticated techniques used today. This article discusses how AI-driven fraud detection systems within SAP are making a difference, particularly for retail and healthcare. Using advanced machine learning and data analytics, AI offers better accuracy, real-time monitoring, and cost savings. We explore methods, real-world examples, comparisons, and future trends to show how AI-driven solutions effectively combat fraud. Through cases involving Walmart and Kaiser Permanente, this piece illustrates practical uses, challenges, and successes with AI in fraud detection.
Authors: Chetan Sharma, Adarsh Vaid, Mukesh Kumar Saini
Language: English
Subfield: Artificial Intelligence
Field: Computer Science
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4404198785