How does AI Help CFOs and safe from Online Scams!CFO Tech Outlook

CFO Tech Outlook talks about the online financial scam and how to spot and avoid it.

As e-commerce booms, there is a significant rise in online frauds, with newer risks arising every day. No one can stay completely safe from scams. History stands testimony that whenever preventing a specific type of scam is discovered, fraudsters quickly develop another one. Scams are successful because they appear very similar to the real thing and catch people off-guard.

To protect oneself against scams, it is essential to be aware of scams, especially if something appears too good to be true. It might just be a scam. Keeping personal details secure, limiting the personal information available on social media, and careful privacy and security settings are the first steps in preventing scams. This is because fraudsters often use pictures and identifying information in creating fake identities or target someone with fraud. It is also advisable to research the legitimacy of a business or the person in question. Providing remote access to one's personal computer is perhaps the surest way of getting scammed—any phone calls asking for the same should be avoided like the plague. Suspicious-looking links, pop-ups, messages, and the like should be deleted immediately.

Identifying fake documents or emails also helps in securing oneself against online scams. While fake documents look similar to the real thing, they might have generic greetings with names of organizations that do not exist, poor grammar, spelling, presentation, or overly official language.

Securing devices is another step to protect oneself from scams. The use of strong passwords, appropriate password protection, updated security software, and safely backed-up content aid in keeping personal data safe. One can never be too careful in shopping online. Requests for money or account details, or unusual payment requests, are best avoided.

Scammers operated in 2017 as an organized community, which is expected to persist through 2018. Top-notch online fraud protection solutions with advanced features like machine learning and the capacity to link to data across third-party databases can aid in preventing online scams. However, being aware of standard scamming techniques and carefulness will go a long way in safeguarding against scams.

The prospects of having artificial intelligence making financial decisions might seem out of place, but the technology can be a boon for CFOs.

FREMONT, CA: Enterprises are warming up to the idea of adopting artificial intelligence in actual operations. The years of apprehension finally seem to be ending as even CFOs consider AI possibilities. A CFO is often at the core of all the vital data that a business collects or generates. Everything finds its way to the CFO's desk, from operation and production costs to profits. Many of the CFO's functions are repetitive. This repetitive nature of the work creates an unending potential for AI-backed tools. To better understand how AI helps CFOs become more efficient, read on.

Top 10 Artificial Intelligence Solution Companies - 2019• Makes Operations Optimal.

When a CFO has access to a lot of data from customers, as well as an AI-enabled solution to analyze the data concerning pricing, he or she can have a magnificent view of customer and market behavior. In the age of digital commerce, the ability to study behavior and use predictive analytics is of immense value.

• Evaluations become more Accurate

Although CFOs are experts at uncovering insights from numbers, sometimes the evaluation can go a little off-target. These cannot be avoided, and these can only be minimized. But with AI, CFOs can make their assessments very accurate. The chances of missing out on any perspective become very low. Every asset can be studied with great depth, and its value can be derived.

• Detecting Scams becomes Easier

CFOs are also responsible for compliance issues. Thus, they always need to be on their toes to detect money laundering attempts. Using AI, CFOs can equip their computers to keep an eye on suspicious activities and set automated alerts.

These points are just at the tip of the iceberg that form AI applications. The deeper one digs, the more one realizes the value that AI adds to a CFO's operations.

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