Shamindra
Peiris
Senior AI Product Manager at Visa
"Generative AI for Fraud Analytics"
"Generative AI for Fraud Analytics"
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Session: Generative AI for Fraud Analytics
This talk will discuss how to leverage generative AI techniques to enhance fraud detection models. Main challenge faced by Fraud Detection models is the class imbalance where legitimate transactions vastly outnumber fraudulent ones.Creating synthetic data will accommodate robust testing and model training. Further, synthetic data allows testing to fine tune models in a risk-free environment complying to Data Governance while minimizing Data Privacy concerns.
Secondly, this talk will discuss how to incorporate generative AI into the machine learning strategy to introduce novel fraud detection methods and improve predictive accuracy.
Integrating generative AI into ML strategy will shift the focus from static, rule-based detection to generating behavioral intelligence. Unlike traditional systems, generative models learn and adapt in real-time, evolving to recognize new fraud types as they emerge without requiring manual model updates. Further, it will contribute in enhancing accuracy of the model while limiting the False Positives. At the same time, Generative AI techniques can be used to analyze unstructured data such as texts, notes etc rather than limiting to structured data points.
Lastly, this talk will discuss how to utilize generative AI to simulate potential fraud scenarios, aiding in the development and refinement of fraud prevention solutions.
Key Takeaways
- Learning how Gen AI can be leveraged to improve traditional ML models
- Learn how generative AI can be used in Fraud analytics
- Learn how generative AI can be used to solve class imbalance problem in classification ML
- Learn how Gen AI can positively contribute towards Data Governance and preserving confidentiality of data
Bio
Shamindra has 13+ years of experience and expertise in Machine Learning, Data Analytics and AI based Product Management across multiple industries and sectors ranging from Banking & Finance, Fintech, Agriculture and Manufacturing in North America and South Asia. Currently she plays a key role in the Global Product Management team at Visa as a Senior AI Product Manager, driving and leading the design and execution of Real Time payment Risk Analytics product suite. Further, she serves as an Adjunct Professor and a Program Advisory Committee Member for multiple colleges in North America and volunteer as a mentor for several Non-Profit organizations to uplift and guide young professionals and new immigrants in North America.