With every technology product seemingly touting artificial intelligence (AI) as part of its solution, organizations can sometimes fall prey to the glamour of marketing promises only to find themselves disappointed when the solutions don’t really deliver what they expected.
Some even have the misguided perception that AI means you no longer need humans, which Tricia Phillips, senior vice president of product and strategy at Kount, said is wrong. “What we see in the market is that providers actually have an army of people in the background who are doing the job of a fraud analyst.”
These human beings are analyzing transactions and feeding back outcome data and looking for trends that the model hasn’t picked up. What some may not realize about AI is that it takes humans to feed the model, and models take time to build out.
“Threats change so quickly that you need AI to keep pace, but you still have to have humans who know how to make sense of emerging trends,” said Phillips. “You also have to have humans pay attention to business outcomes and to drive those business outcomes.”
A model may be able to do a good job of detecting fraud, but it probably isn’t going to detect that you’re spending millions of dollars on a marketing campaign this weekend. With a focus on driving positive customer experience, the goal is to have lower false positives during the campaign—a difficult proposition if your AI-based system thinks the spike in traffic is an anomaly that indicates fraud.
“There’s business context that a model isn’t going to have,” Phillips said.