Artificial Intelligence

AI is revolutionizing how banks combat financial crimes like money laundering. Advanced computer systems can flag suspicious transactions, helping prevent large-scale illegal transfers and protecting financial institutions from potential monetary losses.

Canadian AI platform BluDot, founded by Kamran Khan, detected the novel coronavirus outbreak in Wuhan, China before official health organizations. Using machine learning and monitoring 65 languages, the platform provided early warnings about the emerging pandemic.

A recent US government study found massive errors in facial recognition technology. Researchers discovered that algorithms misidentified black females' gender 35% of the time and produced significantly higher false positive rates for non-white individuals compared to white subjects.