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GenAI poised for rapid adoption in fight against online fraud, according to researchers

  • More than 83 per cent of organisations said they intend to use GenAI to combat fraud efforts, according to report
  • However, there are major challenges to implementing GenAI solutions, with output accuracy a key concern

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More than 83 per cent of organisations said they intend to use GenAI to combat fraud efforts, according to report. Photo: Shutterstock
Ben Jiangin Beijing

Generative artificial intelligence (GenAI) technology is poised for rapid adoption in the fight against cybercrime, helping to reverse some of the fraud driven by AI, recent research finds.

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More than 83 per cent of organisations said they intend to use GenAI to combat fraud efforts over the next two years, according to a report jointly published by the Association of Certified Fraud Examiners (ACFE) and SAS, a data analytics solution provider.

“GenAI has made great strides in these last few years, so it’s no surprise that organisations are incorporating it into their anti-fraud initiatives,” said ACFE research director Mason Wilder.

“As a society, we are still learning all the advantages and disadvantages of using the technology,” Wilder added.

GenAI is the technology that underpins powerful chatbots such as Microsoft-backed OpenAI’s ChatGPT.

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