Artificial intelligence in fraud prevention: Exploring techniques and applications challenges and opportunities

Fraud prevention is a critical challenge for financial institutions, businesses, and governments worldwide. The rise of digital transactions and complex financial systems has led to increasingly sophisticated fraudulent activities. Artificial Intelligence (AI) offers innovative solutions to this growing problem, leveraging its ability to analyze vast amounts of data, identify patterns, and predict fraudulent behavior with high accuracy. This abstract explores the various AI techniques and their applications in fraud prevention, highlighting their transformative impact on the security landscape. AI techniques such as machine learning (ML), deep learning, and natural language processing (NLP) have revolutionized…