Alibaba’s AI Deters 300 Million Hacking Attempts

November 10, 2019 ~ Brandon McGee ~ Leave a comment

“Alibaba’s founder and former CEO Jack Ma said the company’s payments arm, Alipay, faces over 300 million hacking attacks every day, but it hasn’t suffered any problem. Alipay has one billion users and handles $50 billion worth of transactions every day and thus a target of cybercriminals.”

https://esellercafe.com/alibabas-ai-deters-300-million-hacking-attempts/

Miva, Inc. Partners with Kount, Inc. to Protect Online Sellers from Fraud

October 12, 2019 ~ Brandon McGee ~ Leave a comment

“Miva, Inc., eCommerce software and service provider for mid-size and enterprise merchants for 21 years, and Kount, Inc., the leader in digital fraud protection, today announced that they have partnered to integrate Kount’s comprehensive, AI-driven fraud prevention solution into the Miva eCommerce platform.

Features include:

1. Immediate notification of fraud likelihood per transaction

2. Automatic rejection of high-risk transactions

3. Review queues for questionable orders

4. Additional, highly configurable API-powered automation options”

https://www.prweb.com/releases/miva_inc_partners_with_kount_inc_to_protect_online_sellers_from_fraud/prweb16614071.htm

Interview: JPMorgan Chase CEO Jamie Dimon on AI, the cloud and the bank’s big bet on Seattle tech

September 29, 2019 ~ Brandon McGee ~ Leave a comment

“Jamie Dimon spoke with GeekWire via phone about the future of artificial intelligence in the financial sector; what he has learned from Amazon CEO Jeff Bezos; and what made him change his mind about the cloud.

Jamie Dimon: The cloud and AI are real, huge, powerful and they’re going to change a lot for us.

if you’re a developer, you’re going to see the stuff you do immediately affecting 50 million households. We move $6 trillion a day around the world.

Cheaper, better, faster, integrated. AI will be part of the journey. The easiest parts are obviously risk, fraud, underwriting. AI will be enormous. It will be enormous for idea generation.”

https://www.geekwire.com/2019/interview-jpmorgan-chase-ceo-jamie-dimon-ai-cloud-banks-big-bet-seattle-tech/

How Artificial Intelligence Is Changing Cyber Security Landscape and Preventing Cyber Attacks

September 15, 2019 ~ Brandon McGee ~ Leave a comment

“One of the biggest concerns is that hackers can use AI to automate cyberattacks on a massive scale.

Within this year alone, there have been over 2,000 unique vulnerabilities reported.

Another promising enhancement of security by AI comes from its behavioral analytics ability.”

https://www.google.com/amp/s/www.entrepreneur.com/amphtml/339509

Wells Fargo: Artificial intelligence and machine learning a ‘double-edged sword’

September 4, 2019September 4, 2019 ~ Brandon McGee ~ Leave a comment

http://linkedin.com/in/mike-telang-705b263

“‘I think almost all large banks are being asked now by regulators to go back and identify any ML/AI solution that’s brought into the bank because the implication of that is, if the wrong algorithm is being used, you are going to decline credit or you’re going to have impact to the customers.’
‘A lot of the companies have survived either by acquiring them or by re-emerging differently. I think banks have to do that. I think it’s a matter of time,’ Telang said.”

https://www.google.com/amp/s/www.zdnet.com/google-amp/article/wells-fargo-artificial-intelligence-and-machine-learning-a-double-edged-sword/