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Retail fraud and loss prevention have always been significant business concerns impacting profitability and customer trust. However, with the emergence of AI technologies, there is a newfound potential to combat these challenges more effectively. 

This article is sponsored by Riskified, and was written, edited and published in alignment with our transparent Emerj sponsored content guidelines.

This article is sponsored by Riskified, and was written, edited and published in alignment with our transparent Emerj sponsored content guidelines.
The advent of the COVID-19 pandemic is leaving retail and eCommerce enterprises awash in numerous, often chaotic trends, many of which are proving critical for driving AI adoption throughout the industry. Perhaps most prominent among these market dynamics is an enormous shift to online retail.

While machine learning might be as close to a household name as any AI capability in 2023, any serious historian will tell you the technology itself is nothing new. The term 'machine learning' was coined in an IBM study on computer gaming and AI dating back to 1959.

‘Know Your Customer (KYC)’ compliance is what is commonly referred to by a legally-mandated, globally developed set of guidelines to ensure that banks, financial institutions (FIs), and other related enterprises perform due diligence on potential customers. The purpose is to verify customer identity as well as the legitimacy and risk involved with developing and maintaining a business relationship.