EuroCACS 2016: Computers learn how to detect fraud, waste and error

May 31, 2016Share this content: Using artificial intelligence, we are rapidly approaching the day when computers will be able to sift through terabytes of data to detect fraudulent financial transactions. Hans van Nes speaking at EuroCACS 2016 It won’t be long before computers – using some of the latest developments in artificial intelligence or machine learning – will be able to sift through mountains of invoice and procurement data to identify potentially fraudulent transactions. That’s according to research by Consider Solutions, presented at EuroCACS 2016 in Dublin by COO Hans van Nes. The research points toward the development of systems that will revolutionise financial auditing and fraud control by training computers that can “learn” to recognise anomalous invoicing and procurement patterns. Van Nes said that existing fraud detection software relied…


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