Visa Inc. is rolling out a platform to help its engineers quickly test advanced artificial-intelligence algorithms aimed at detecting and preventing credit-card fraud.
The platform, built in house and slated to be launched later this year, is an example of the broader financial-services industry trend of using AI to detect patterns in transactions that could signal criminal behavior. The platform is cloud-based, meaning that Visa’s researchers and engineers can access it online from anywhere.
“One of the transformative technologies of this era is going to be AI,” said Rajat Taneja, executive vice president of technology and operations for Visa, the largest U.S. card network by cards in circulation and transactions. “There is a perfect combination right now of computing resources, algorithms, data and people that’s allowing this incredible innovation,” he added.