Latest News- AI In Fraud Management Market: Software is expected to lead the Solution segment during 2025-2029

The AI In Fraud Management Market is being driven by Escalating sophistication and volume of fraudulent activities

The AI In Fraud Management Market is expected to grow at a CAGR of 20.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 13547.9 million. The AI in Fraud Management market is witnessing a significant shift with the emergence of generative artificial intelligence (AI) as a dual-use technology. Malicious actors are utilizing this advanced AI to create sophisticated and scalable fraud attacks, such as generating hyper-realistic phishing emails, deepfake audio and video for social engineering, and automating vulnerability discovery. These AI-powered threats can effortlessly bypass conventional defenses, necessitating the development of more advanced, adaptive security measures. In response, businesses are investing in defensive applications of generative AI to counteract these threats. These countermeasures include creating AI models to detect and respond to fraudulent activities, as well as generating decoy identities and communications to misdirect attackers. The integration of generative AI into fraud management systems is a critical trend that will shape the market in the coming years. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Solution
  • Software
  • Services
• Application
  • Identity theft protection
  • Payment fraud prevention
  • Anti-money laundering
  • Others
• Sector
  • BFSI
  • Retail and consumer packaged goods
  • Healthcare
  • Government
  • Others
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Escalating sophistication and volume of fraudulent activities
• Proliferation of digital transformation and real-time payments
• Inadequacy of legacy systems and demand for higher accuracy

However, the market also witnesses some limitations, which are as follows:

• Data quality, privacy, and accessibility constraints
• Complexity of implementation and scarcity of specialized talent
• Lack of transparency and regulatory scrutiny

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Market Scope in AI In Fraud Management Market Research Report

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Research Analysis Overview

In the AI Fraud Management market, statistical modeling and data enrichment are key techniques for detecting fraudulent activities. Fraud incident response is streamlined through model explainability and retraining to reduce false positives, ensuring operational efficiency. Scalable AI solutions integrate APIs for cloud-based deployment, while data governance, validation, monitoring, and security maintain data privacy and integrity. Fraud scenarios are simulated for proactive detection, and decision support systems collaborate with users for enhanced fraud prevention. Knowledge graphs and graph databases analyze transaction velocity, account activity patterns, and payment network security against identity theft, social media, and dark web threats. Open-source intelligence is utilized for comprehensive fraud detection, with a focus on user experience design and model performance optimization.

Market Research Overview

In the dynamic business landscape, AI plays a pivotal role in fraud management, enhancing the capabilities of organizations to mitigate financial losses. Technavio's market analysis encompasses the global AI in Fraud Management market, focusing on companies that develop and provide fraud detection algorithms, machine learning models, anomaly detection systems, and risk scoring systems. These solutions enable businesses to identify and respond to fraudulent activities effectively, thereby safeguarding their revenue and reputation. The market size is determined by calculating the combined revenue generated by these specialized software providers within the broader IT software market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/