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October 11, 2023 - DataVisor

Introducing AI Co-pilot: Your New Generative AI-Powered Fraud-Fighting Companion

Financial fraud happens faster today than ever before. Not only that, new and evolving threats are testing the limits of traditional fraud platform rules. Fraud teams can easily find themselves stretched thin trying to address these challenges efficiently.

In situations like these, the answer is better technology. At DataVisor, we’re proud to have been at the forefront of AI and machine learning development for fraud prevention since launch. That’s why we’re excited to announce AI Co-Pilot – a new module powered by Generative AI that will help fraud teams work more efficiently with lots of automation. As you become familiar with AI Co-Pilot’s key capabilities, we believe you’ll be as excited about this new release as we are.

Do more with AI Co-Pilot

AI Co-Pilot leverages Generative AI capabilities to improve your fraud team’s efficiency while freeing them up to focus on new fraud challenges. There are three key areas where AI Co-Pilot cuts down on your team’s work and increases your platform’s overall accuracy and detection capability.

Automated rule tuning

Writing rules to cover both existing and emerging frauds is a complex task. Optimizing them can pose an even greater challenge for rule writers.

Now with AI Co-Pilot, your fraud strategies can maximize individual rule performance with AI suggestions for rule tuning. It ingests labeled production data to suggest alternative rules that improve recall (detection coverage) and precision (detection accuracy). Fraud strategists can measure performance between the original rule and the newly suggested rules to choose the most effective one.

These suggested alternative rules effortlessly increase both detection coverage and accuracy.

Auto feature script generation and debugging

Generating code scripts for feature engineering is one of the areas where Generative AI has garnered the most praise as it’s hit the mainstream. Now with AI Co-Pilot, fraud teams can automate the tasks of generating feature scripts in Java or Python and improve code quality to achieve more productivity.

This intelligent aid uses an intuitive blend of code generation, review, and suggestions based on user-defined feature function descriptions by natural languages. The result is auto-generated coding suggestions or full feature scripts that are ready to be tested. The coding suggestions will point out areas that may be buggy or can benefit from improvements, enhancing team efficiency significantly.

For the first time, this allows business teams to craft and implement comprehensive fraud strategies without the need for additional programming support, granting financial institutions the agility to rapidly respond to emerging fraud trends.

Auto-generation of rule descriptions

Clear, human-understandable rule descriptions are often critical for transparency and maintenance purposes. However, creating them is a task that many fraud strategists find tedious and low priority, so it is sometimes neglected.

Leveraging Generative AI, DataVisor’s AI Co-Pilot makes writing rule descriptions a breeze. All your fraud strategists need to do is to click a button after completing a rule and the AI Co-Pilot will generate a rule description based on its logic.

This capability streamlines rule documentation and maintenance and removes the chore of manually curating rule descriptions. It also boosts clarity and efficiency by only using concise language. With auto-generated rule descriptions, you can ensure easier maintenance and better user comprehension during downstream processes.

Finally, it ensures a transparent and seamless customer experience by providing human-understandable reasons behind each generated alert.

Add AI Co-pilot to your fraud team

AI Co-Pilot offers a smooth, more automated, and efficient experience to help improve your fraud team’s productivity by lightening their workload and lifting the overall quality of their output. We believe once you add this technology to your team you’ll feel as if you’ve added another member to your organization—one that isn’t in the room but is working just as hard and as effectively as you are.

You can learn more about AI Co-pilot by reading the full AI Co-Pilot ebook, or by booking a time to chat with our team of experts who can show you a personalized demo of how this powerful tool will fit into your fraud tech stack.

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DataVisor is the world's leading AI-Powered Fraud and Risk Platform.