AI stands for Artificial Intelligence, and ML stands for Machine Learning. In the context of 3DS payments, AI and ML are used to enhance the security and efficiency of the authentication process.
Artificial Intelligence refers to the simulation of human intelligence in machines, enabling them to perform tasks that typically require human intelligence, such as decision-making and problem-solving. In 3DS payments, AI is utilised to analyse transaction data, detect patterns, and identify potential fraud or suspicious activities, eliminating fraud related chargebacks.
Machine Learning, on the other hand, is a subset of AI that focuses on training machines to learn from data and improve their performance without being explicitly programmed. ML algorithms are employed in 3DS payments to analyse historical transaction data, identify trends, and predict the likelihood of fraud. By continuously learning from new data, ML algorithms can enhance the accuracy and effectiveness of fraud detection and prevention in 3DS payments.
Together, AI and ML technologies play a crucial role in strengthening the security of 3DS card-not-present payments by enabling sophisticated analysis and intelligent decision-making to identify and prevent fraudulent transactions.