[ 31.01.2019 ]
WeDo Technologies recognized for its fraud management solutions
“Artificial intelligence and machine learning capabilities are critical to mitigate the new fraud threats arising as telecom operators transform their business models. WeDo Technologies is pleased to be recognized by Gartner. For the past five years we have invested heavily in in applying AI and Machine Learning to fraud management and revenue assurance, pioneering breakthroughs in automatic threshold definition and deep learning outlier detection - capabilities that will be vital to reduce fraud in the digital era."
Rui Paiva, CEO of WeDo Technologies
We are proud to announce that we have been named a Vendor to Watch in Gartner’s “Market Trends: Maximizing the Value of Analytics, Artificial Intelligence and Automation in CSP Fraud Management” report*. This marks the third time in six months we have been cited by Gartner in its reports focused on fraud management, revenue assurance in CSP operations.
According to the Communications Fraud Control Association (CFCA), global telecom fraud losses total $29.2 billion per year, with this number expected to rise with the growth of digital services and the Internet of Things. The Gartner report assesses areas within fraud management where communication service providers (CSPs) can achieve the biggest impact when investing in machine learning. CSPs are increasingly looking to machine learning and AI to help them improve fraud management, particularly as new digital services provide additional opportunities for fraudsters to exploit.
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*Gartner, Market Trends: Maximizing the Value of Analytics, Artificial Intelligence and Automation in CSP Fraud Management, Charlotte Patrick, Norbert Scholz, Johanna Stjerna, Jonathan Care, 21 December 2018.