As you might imagine, e-commerce has been a big thing, especially after the pandemic hit, with I mean, we all were sort of forced to shop, outside of regular retail since we couldn’t go to a store. Essentially we could get things delivered in some places through central workers. Today let’s find out about Using AI and NLP to detect e-commerce fraud.
With the new changes around e-commerce and this new environment and that new paradigm, you don’t get to a place where there are just non-stop, fraudulent transactions.
So in the world of fraud detection, there are a few categories in e-commerce, and some of the big ones are bot detection, so you want to really start looking at whether or not, the transaction that is occurring on your e-commerce platform, is a true human, or whether it’s a bot.
That could be right down to actual shopping, putting things in carts, all that stuff or it could very well be a bunch of bots. Maybe it’s a competitor looking for competitive analysis or something along those lines, so there are many companies that exist, that use machine learning, and other tactics to detect whether or not, you do see a bot come in.
You want to have a firewall or a point-of-entry system that allows you to detect these rather quickly and, really understand the kind of normal usage patterns that your site would get and probably track them through time.
Let’s cut through the jargon, myths and nebulous world of data, machine learning and AI. Each week we’ll be unpacking topics related to the world of data and AI with the awarding winning founders of 1000ML. Whether you’re in the data world already or looking to learn more about it, this podcast is for you.