AI IN PROCUREMENT
HOW IS PROCUREMENT USING AI FOR FRAUD DETECTION?
“ This often entails updating the systems that create that data, but recent technology advancements are allowing us more options to resolve or overcome data issues,” adds Greg.
“ The data doesn’ t necessarily need to be centralised, although that does simplify things. AI has unique capabilities to harvest data from multiple disparate sources and make sense of that data.
“ When data is not centralised, however, the importance of performing accurate entity resolution becomes critical, as the same entities may be represented differently in different systems and result in matching errors.”
• Data inference or even creation of synthetic data to build models against.
• Analysis of existing policies and controls to ensure payments comply with those policies.
• On the detection side, to find anomalies, similar patterns or suspect relationships that specific rule-based controls might miss.
• Within the investigation process, to guide and assist investigators through the investigative process based on the unique aspects of a given alert or case.
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