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Privacy enhancing technology is critical for secure innovation in payments. The focus has shifted towards minimizing data usage while maintaining high predictability and accuracy. Dandi Black, Chief Product Officer at Global Payments, emphasizes the importance of cultural transformation and empowering teams through measurable progress. She advocates for using generative AI in fraud detection and risk management, and discusses the necessity of clear KPIs to measure success. The integration of privacy enhancing technologies will help safeguard user data while driving industry innovation and addressing regulatory challenges.
Privacy enhancing technology prioritizes minimizing data for secure and accurate outcomes.
Generative AI is leveraged for innovative fraud detection and risk management strategies.
AI security and budget investments are increasing to keep pace with emerging threats.
Leveraging privacy enhancing technology can create unique opportunities in the payments ecosystem.
The increasing importance of privacy enhancing technologies reflects a broader industry shift towards data protection and compliance with evolving regulations. As organizations integrate these technologies, there is a significant opportunity to shape ethical standards for AI use in payments while ensuring robust governance frameworks to mitigate risks.
Investment in generative AI within the fraud detection domain is essential for maintaining competitive advantage. Companies that adopt these innovative methods will not only enhance their service offerings but also establish new revenue streams as they respond agilely to the dynamic threat landscape affecting the payments industry.
The discussion centers on using minimal data to achieve security without sacrificing functionality.
Its application in fraud detection demonstrates its potential to innovate existing processes effectively.
The video highlights the use of generative AI for advanced fraud risk modeling.
The company is investing in privacy enhancing technologies and generative AI to innovate in the payments space.
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