According to Mercator Advisory Group, “In most situations where human beings determine risk today, a machine learning algorithm will be able to outperform those humans.” As reported in The Financial Brand, “Ray Kurzweil from Google estimates that AI will surpass human intelligence by 2019.”

By all accounts, machine learning promises to revolutionize the payments industry – if not the world – by bringing us even more automation, efficiency, security and productivity than ever before.

So what exactly is machine learning, and how can it help your credit union better detect fraud?

Machine learning is a form of AI (artificial intelligence) in which computers can learn and adapt without being explicitly programmed.

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