How AI is Revolutionizing Fraud Detection in Online Transactions Introduction As digital transactions become the backbone of global commerce, fraudsters are becoming increasingly sophisticated in their tactics. Traditional fraud detection systems, which rely on rule-based algorithms and manual reviews, often fail to keep up with evolving threats. This has led to a surge in financial losses, consumer distrust, and regulatory scrutiny. Enter Artificial Intelligence (AI) —a game-changer in the fight against fraud. AI-powered fraud detection systems can analyze massive datasets in real time, identify hidden patterns, and prevent fraudulent transactions before they occur. In this article, we’ll explore how AI is transforming fraud detection, its key applications, benefits, challenges, and what the future holds for AI-driven security. The Evolution of Fraud Detection Traditional Fraud Detection Methods For decades, financial institutions and e-commerce platforms relied on rule-based sy...