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The banking industry faces an ongoing challenge to combat fraud in the digital age. Credit unions are prime targets for opportunistic actors due to their extensive customer networks and technological capabilities. Nationwide fraud losses exceeded $10 billion in 2023, with a 14% increase attributed to online scams and phishing attempts.
Consumer confidence is crucial for credit unions, as trust between institutions and members is essential for growth. Implementing robust safeguards against fraud is necessary to prevent financial losses and maintain reputation. Advanced technologies like artificial intelligence (AI) can enhance identity verification and fraud detection to strengthen account security.
Financial IT 14month
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
How to level up your teaching with AI. Discover how to use clones and GPTs in your classroom—personalized AI teaching is the future.
Trump's Third Term? AI already knows how this can be done. A study shows how OpenAI, Grok, DeepSeek & Google outline ways to dismantle U.S. democracy.
Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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