As Risk and Client Services Director at ai, Matt is responsible for their business service capability and ensuring that ai’s global client base are utilising the latest practices in management of fraud risk. Throughout his career Matt has experienced the extraordinary potential of mixing world class individuals and industry leading technology. For more information on Matt click here or visit ai’s website www.aicorporation.com
What you will hear from Matt:
- Currently the impact of detecting fraud is larger than the actual fraud problem itself.
- Even those who have implemented full Omni-Channel are still struggling however – why is this? Because that omni-channel monitoring is still heavily human-based and resource intensive. To understand why those Omni-Channel monitoring clients were still struggling, ai looked at the field of behavioural economics.
- ai identified 10 biases of the human mind, via behavioural economics that we think are relevant in the world fraud, risk and loss prevention. These biases, or fallibilities, impact our ability to operate perfectly in these worlds.
- Based upon our learnings from Behavioural economics; ai is proposing a new optimised approach to data-driven ‘decisioning’; where the machine leads some of the stages of the process.
- In summary, at ai we believe that there is a role for both human’s and machine in the world of fraud. Instead of Man vs Machine as is often talked about; we think the approach should be Man + Machine.
- This is best summarised by a university professor in US – “We should let the human brain do what it is good at, and let computers do what they are good at – marrying the two is a powerful thing.”