In the next 5 years, a significant increase in fraud in the field of e-commerce is expected due to the active use of artificial intelligence. According to Juniper Research, the volume of fraud will grow on 141% from $44.3 billion in 2024 to $107 billion in 2029.
The report notes that AI-based tools allow attackers to be ahead of security systems, making attacks more complex and large-scale. In particular, the automation of the creation of fake accounts and synthetic personalities greatly facilitates the deception of trading platforms, overloading traditional protection systems based on the rules.
The authors of the study said that companies working in the field of e-commerce should integrate systems for preventing fraud using AI for timely detection of new fraudsters tactics. This is especially true for large trading companies in developed countries, which more often become a target for cybercriminals, for example, when testing stolen credit cards.
The study also highlights important strategies that can help suppliers of decisions to combat fraud to reduce the number of fraudulent transactions on the Internet. In particular, recommendations are proposed to improve the methods of detecting suspicious activity and increase the accuracy of recognition of these users. Forecasts cover are spheres such as buying air tickets, digital and physical goods, with a breakdown in online and mobile transactions, as well as by buyers’ preferences.
Juniper Research calls to use AI as a tool to combat fraud. AI-based systems can detect unusual cost models, sharp changes in customer behavior and cases when several accounts are associated with one device. However, the effective operation of such systems requires a large amount of data, and their implementation requires significant resources and can lead to false works.