AI and machine learning techniques have evolved remarkably over the last three decades and it is expected to continue at an unprecedented rate. According to a report by Fortune Business Insights, the global AI and machine learning market is set to experience significant growth, expanding from $21.17 billion in 2022 to $209.91 billion by 2029.
At Neural Technologies we’ve been part of that transformation from pioneering theory to delivering effective fraud management, anomaly detection, revenue protection, and data integration solutions across a wide range of industries and applications.
The AI and machine learning process offers a sophisticated and differentiated approach that far outstrips the potential of rigid, rules-based decision making for businesses. At Neural Technologies that means leveraging the unique benefits of ActivML, an AI and machine learning application that can automate processes, guaranteeing quicker and better results for our customers.
ActivML offers beneficial opportunities across the business landscape, from AI and machine learning models in communication services through to applications in traditional industries such as energy and utilities.
Neural Technologies’ ActivML deployment includes three core differentiators that set it apart from more rigid legacy rules-based approaches.
Like any ‘true’ AI and machine learning applications, ActivML is a system designed to grow and evolve. This means it not only detects pre programmed threats, but adapts to protect against the ‘unknown unknowns’. That’s particularly important in establishing effective fraud risk management under a high-volume data landscape where fraudsters are constantly attempting new avenues of attack.
A training dataset is used as an initial training tool for ActivML, utilizing labels in the case of supervised learning. Automated AI and machine learning models are applied to all data processed by the system, providing clearly explainable outputs such as structural profiles of data, explainable features of the data, classification and clear anomaly detection. This process not only provides significant enhancement for fraud risk management, but provides clearly explainable analysis to customers.
Since the ActivML model is constantly learning and evolving, the automated AI and machine learning generates a model that learns from its own analysis, meaning classified and anomalous data is then incorporated in a feedback loop that informs future data analysis. That powers a system which is constantly adjusting and re-tuning to offer ongoing improvement.
Implementing the ActivML model for communication service provider organization TurkCell improved fraud detection by 12%, reducing time between analysis and intervention by 27%, and improving collection amounts by 89%.
ActivML implementation was customized for Turkcell to ensure clear insight for analysts, making a user-friendly solution that helped inform decision making in real time. That meant delivering in four simple steps.
Neural Technologies has deployed ActivML capabilities for a wide range of industries and applications. That includes active use cases tackling subscription fraud, sim box or bypass fraud, international revenue sharing fraud, and dealer fraud, amongst others.
ActivML capabilities also unlock substantial future opportunities for customers. It offers a rich source of data collected across an organization, which can be leveraged for a wide range of purposes. That includes customer information for more personalized offers, provision, customer relationship management, billing, network services, sales, and much more.
This AI and machine learning application can also provide insight into overall network usage, which can be a powerful tool for understanding the potential of emerging technologies such as 5G. AI and machine learning in telecom companies offers a particularly valuable opportunity in this regard.
More broadly, ActivML offers dynamic billing, pricing, e-money, and discount opportunities that can help communication service providers and others address changing customer needs. That means building beyond simply fraud detection, revenue assurance, and credit, to provide true integrated data opportunities in digital transformation and customer experience that can help operators stay competitive in the modern business landscape.
Want to power up your business with data? Speak to the team at Neural Technologies today