AI for Governance
US Treasury claims to have won back billions of dollars lost to fraud using AI
The U.S. Treasury is using machine learning AI in its fraud detection process, helping to recover over $4 billion in improper payments, with $1 billion directly attributed to AI detecting check fraud. The department also prevented $2.5 billion in losses by identifying high-risk transactions and expanding risk-based screening, which saved an additional $500 million.
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