With the holiday season fast approaching, there’s bound to be a face-off of acuity between retailers and the skillfully-evasive gang of frauds. Black Friday and Cyber Monday, traditionally known for incredible deals and bustling stores have advanced to a cyber frenzy, fascinating not only hot customers/shopaholics and deceptive frauds. In this critical field, the question isn't just about nabbing the best discounts, it's about outwitting the frauds and defending retailers profits and reputation as well as customers’ hard-earned cash.
Intel Liftoff for AI Startups program member, Bilic has a secret weapon: an Intel-powered fraud-predicting AI model that's about to transform the retail landscape.
Imagine having an AI defender with the ability to reveal the deceptive schemes of frauds, no matter how adept they camouflage themselves in phishing emails, deceptive job offers, or impersonation schemes. The nefarious world of fraudulent conversations has been decrypted by Bilic’s seasoned team and this potent AI tool. This technology detects abnormal language usage, unsettling requests, and inappropriate information with peculiar precision.
Intel Liftoff sat down with Bilic’s team to learn more about how their solution is taking on the fight against fraud during these peak shopping times.
How is your solution equipping businesses to tackle the high-stakes challenges of Black Friday and Cyber Monday?
Imagine it’s Black Friday and shoppers are trooping into stores, filling up their online shopping carts with discounted goods. Although, amidst the fever, there are frauds loitering around, waiting to nab the hard-earned cash of vulnerable customers.
With Black Friday and Cyber Monday being the top two busiest and most remunerative periods of the year for retailers, the stakes are lofty. Fortunately, Bilic’s Secret weapon AI model comes in to save the day furnished with the ability to predict fraud and level the playground. By analysing vast amounts of data, spotting patterns, and identifying potential frauds, this intuitive technology is empowering businesses to protect their profits and reputation.
Gone are the days of banking on manual monitoring and presumptions. Bilic’s AI model skyrockets fraud prevention, providing real-time insights and alerts to businesses. It’s like having Jessica Jones on your team, fishing out frauds and rescuing the situation.
So, how does it work? Well, the AI model is a feedforward neural network, custom-tailored for processing sequential data, such as conversations, unusual purchase patterns or suspicious account behaviour. The model undergoes training on a rich dataset of conversations, meticulously labelled as fraudulent or genuine, which equips it with the discernment to spot patterns indicative of fraud.
This gives businesses the upper hand in preventing fraudulent transactions and providing a safe shopping experience for their customers.
Can you share an overview of how AI has made a massive difference for these events within your specialisation area?
The Black Friday and Cyber Monday events are like contests of shopping, the stakes are high, and the competition is intense. With the massive growth of online shopping, frauds have gained ground. That's where Bilic's secret weapon AI model comes in, ready to rescue the situation.
AI has made a massive difference for these events by furnishing businesses with the power to outsmart frauds. By analysing heaps of data and spotting patterns, Bilic's AI model can identify potential frauds before they even have a chance to attack. It's like having a premonition that allows you to predict fraudulent activities.
With the help of AI, businesses have been able to protect their profits and reputation, providing a secure shopping experience for their customers. It's a win-win situation.
So, in this high-stakes game of Black Friday and Cyber Monday, AI is the secret weapon that businesses need. With its ever-transforming potentials, AI will continue to transform these holiday sales events, making them smoother, more secure, and fraud-free. The future seems promising.
Any case studies or examples where your AI-driven approach has made a tangible difference?
The AI-driven approach in Bilic's suite of AI tools has made a tangible difference in various domains, mainly cybersecurity and fraud detection.
- Fraud Support Agent: Using AI, this tool provides insights on various forms of fraud, such as Card Fraud and Identity Theft, by using custom GPTs and GPT stores by OpenAI, aligned with the Action Fraud UK Guidebook. Businesses and customers can receive tailored advice on reporting fraud. This agent significantly increases the accuracy of fraud detection, reduces false positives, and greatly decreases the time taken to identify fraud. This effectively mitigates financial losses due to fraud, demonstrating a tangible impact.
Try it out: https://chat.openai.com/g/g-VIfrWAQmF-fraud-support-agent
- Cybersecurity Trainer Agent: With AI technology, this tool has revolutionised the way cybersecurity training is delivered. By leveraging AI to understand the latest threats and their possible solutions, users can now easily grasp complex concepts in a simple and easy-to-understand way, ensuring better preparation against cyber threats. It improves their digital security skills, contributing to a safer cyber environment, demonstrating a substantial change.
Try it out: https://chat.openai.com/g/g-Oup9eJFcF-james-bilic-cyber-security-trainer
- Investigations Agent: The investigations Agent leverages AI technology to deliver comprehensive and insightful investigation details. By enhancing their investigative skills and keeping them updated about the latest findings, it equips users with the required information and the potential course of action. It has contributed towards significantly better results in terms of completed investigations, showcasing a solid real-world impact.
Try it out: https://chat.openai.com/g/g-1hNB6J7c8-holmes-bilic-investigations
How do you envision AI evolving to further transform these holiday sales events?
AI has become even smarter and more intuitive, persistently advancing to stay a step ahead of frauds. We're talking about an AI model that can not only predict scams but also proactively prevent them from happening. It's like having a mind-reading genius who can sniff out fraudulent activities before they even occur.
As technology advances, AI will continue to revolutionise these holiday sales events by creating a more secure shopping environment. While shoppers can enjoy a seamless and stress-free shopping experience, retailers will be furnished with the latest tools and insights to protect their profits and reputation, gear up and get ready for the AI revolution. Trust in Bilic's secret weapon AI model to make this vision a reality.
Conclusion
Bilic's AI model will continually advance and adapt, staying a step ahead of those cunning frauds.
No longer will we live in fear of fraudulent transactions or stolen identities. Thanks to the power of AI, retailers will be furnished with the tools they need to protect their profits and reputation and shoppers will be able to defend their hard-earned cash.
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