The US Treasury has tapped into AI machine learning to sift through data to detect and prevent billions of dollars in check fraud.
The United States Department of Treasury said it used artificial intelligence to sift through data and recover $4 billion in “fraud and improper payments” in the 2024 fiscal year.
The Treasury said on Oct. 17, that its uptake of AI saw it recover nearly four times as much compared to the previous fiscal year, where it recovered $652.7 million in fraud.
The Treasury started quietly using machine learning AI in late 2022 — a type of technology that specializes in analyzing vast amounts of data, and making decisions and predictions based on what it has learned.
