Introduction

Welcome to this week’s edition of MondAI Insights!

Veritone Launches AI Chatbot Tool

TL;DR: Veritone introduces “Ask Veri,” an AI chatbot for enhancing evidence management in law enforcement, promising quicker access to digital records and evidence insights.

Summary: Veritone, a California-based AI firm, has launched “Ask Veri,” a conversational intelligence solution integrated into its aiWARE platform. Designed to provide actionable insights and manage dynamic workflows from media archives, this AI and chat-based tool aims to revolutionize digital evidence management for police and public safety agencies. With capabilities like identifying specific moments in video footage or summarizing interview recordings, Ask Veri promises to streamline investigations by efficiently sorting through vast amounts of data. Set for public-sector release soon, this innovation is part of Veritone’s broader effort to apply AI in digital workflows, including an Intelligent Digital Evidence Management System (iDEMS) launched earlier.

Importance: The introduction of “Ask Veri” reflects the growing adoption of AI tools in public safety, aiming to enhance efficiency and accuracy in evidence management. By leveraging AI to automate and refine the analysis of digital evidence, Veritone is addressing the critical need for quicker, more reliable access to information in law enforcement operations. This technology stands to significantly impact the speed and outcome of investigations, illustrating the potential of AI to transform traditional public sector processes.

OkCupid Says “AI” to Love

TL;DR: OkCupid’s Marketing and Communications team utilizes generative AI, specifically ChatGPT, to create in-app matching questions, enhancing user compatibility assessments. The brand emphasizes creativity, scrappy innovation, and the importance of ethical considerations and legal consultations when leveraging AI technologies.

Summary: Michael Kaye, Director of Brand Marketing & Communications at OkCupid, shared insights into the dating app’s use of generative AI, notably ChatGPT, for crafting matching questions that have been answered nearly 4 million times. During an upcoming session at PRNEWS’ Leveraging AI for PR seminar, Kaye will discuss the potential for brands to be both creative and impactful with their storytelling by leveraging AI. He also noted the broader industry trend of employing AI for various purposes, including moderation, safety, and now increasingly in marketing and communications. Kaye advises PR professionals to be mindful of ethical considerations and to work closely with legal and safety teams when adopting AI tools.

Importance: OkCupid’s innovative use of generative AI for creating matching questions underscores the evolving role of AI in enhancing user engagement and personalization in the dating app industry. Kaye’s insights reflect a growing trend across various sectors towards incorporating AI for creative and operational improvements. Moreover, the emphasis on ethics, legal consultation, and safety in deploying AI tools highlights the critical balance companies must maintain between innovation and responsibility.

Visa Attacks Fraud with New AI-Powered Tools

TL;DR: Visa Inc. announces three AI-powered solutions within its Visa Protect portfolio to enhance fraud prevention for both card-not-present transactions and instant payment processes, aiming for a 2024 launch. These innovations underscore Visa’s ongoing commitment to leveraging AI for improving payment security and fraud management across its network.

Summary: Visa Inc. has expanded its Visa Protect portfolio with three new AI-powered risk and fraud prevention tools, set to debut in the first half of 2024. The suite includes Visa Deep Authorization for managing card-not-present payment fraud, an expansion of Visa Advanced Authorization and Visa Risk Manager to cover non-Visa transactions, and a novel solution designed for instant payment systems that utilizes deep learning AI for real-time fraud detection. These solutions aim to streamline fraud detection efforts, reduce operational costs, and enhance security for transactions within and beyond Visa’s network. This move aligns with Visa’s strategic investments in AI and technology innovation, including a $10 billion investment over five years and a partnership with security operations provider Expel to combat cyber threats. The introduction of these solutions reflects Visa’s commitment to creating a safer payment ecosystem in response to the challenges posed by increasing digital transactions and sophisticated fraud tactics.

Importance: Visa’s introduction of AI-powered fraud prevention solutions represents a significant advancement in payment security technology. By addressing both traditional and emerging payment formats, Visa aims to provide comprehensive fraud protection and enhance the overall security of the payment ecosystem. This initiative not only demonstrates Visa’s leadership in payment security but also its proactive approach to addressing the evolving landscape of digital fraud. With digital transactions becoming increasingly prevalent, Visa’s efforts to bolster its fraud prevention capabilities are crucial for maintaining trust and integrity in the financial system.

Conclusion

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