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Kenya banks snoop on staff with AI in war against fraud
In 2022, CBK said banks used AI only to “to improve customer service and support” and to help predict “market fluctuations” that are traditionally challenging to perform by analysts.
Commercial banks have deployed artificial intelligence (AI) technologies to spy on their staff in fresh efforts to combat fraud and theft propagated by internal actors, the sector regulator has revealed.
Fast-growing artificial intelligence technologies, which make machines mimic human intelligence in thinking and learning, has been entrenched in nearly every sector and now Kenya’s financial industry is adopting it to help minimise fraud losses.
