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For example , the latest iteration of the Visa Account Attack Intelligence ( VAAI ) Score uses Generative AI to assess more than 180 risk attributes in milliseconds and
The question is not if AI will come to your company , but when – if it is not already there . generates a score predicting the likelihood of a bot-assisted brute force card fraud . Visa is developing a Generative AI model to combat card testing fraud . The AI-enabled VAAI Score has six times more fraud detection capabilities than previous models and has reduced the false-positive rate by 85 %.
Financial services companies also see potential in Generative AI to improve customer service and decision-making . Bank of America recently introduced an AI-enabled virtual assistant , Erica , to provide customers with personalized financial guidance . Capital One is taking a similar approach with Eno , an AI-enabled natural language SMS assistant .
Generative AI is also helping financial services companies navigate the complex regulatory environment . Compliance management software providers are integrating Generative AI and Machine Learning into their platforms to analyze regulatory rules , policies , and procedures and identify and assess compliance risks .
Use cases of AI in healthcare
Healthcare has been one of the primary beneficiaries of AI with use cases going beyond pharmaceutical development and patient care . AI is being used to automate administrative tasks , improve image analysis , assist in diagnostics , and develop personalized care programs .
One of the most exciting use cases is drug discovery and testing . Generative AI can accelerate the process of identifying compounds for new drugs and the speed of their development . A study by the Boston Consulting Group found that AI can reduce drug development and testing costs and
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