Kavan Choksi Explains How AI Is Transforming Fraud Detection in Middle Eastern Finance
Kavan Choksi: AI-Driven Fraud Prevention Is Changing Middle Eastern Banking The rise of digital banking in the Middle East has brought with it new opportunities—and new risks. Kavan Choksi mentions that as financial institutions in the region expand their digital services, they also face growing threats from fraud. To combat this, banks and other financial entities are increasingly turning to artificial intelligence (AI) for fraud detection and prevention. By harnessing AI’s advanced data analytics and real-time monitoring capabilities, Middle Eastern financial institutions are significantly improving their ability to detect and mitigate fraud before it causes damage. AI’s Role in Fraud Detection AI-powered systems are revolutionizing the way financial institutions in the Middle East detect and prevent fraud. Traditional fraud detection methods rely on predefined rules and are often reactive, identifying fraudulent activity after it occurs. In contrast, AI can analyze l
