Financial losses from worldwide credit card transaction fraud are projected to reach more than $403 billion over the next decade.
New NVIDIA AI Blueprint for financial fraud detection launched at Money20/20 conference, offering a reference example for financial institutions to improve accuracy and reduce false positives in detecting and preventing credit card transaction fraud.
Businesses embracing comprehensive machine learning tools can observe up to a 40% improvement in fraud detection accuracy, with leading financial organizations like American Express and Capital One already utilizing AI to combat fraud and enhance customer protection.
The NVIDIA AI Blueprint accelerates model training and inference, integrates accelerated computing and graph neural networks for fraud detection, and enhances the XGBoost ML model with NVIDIA CUDA-X Data Science libraries to reduce false positives.