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Real-time Fraud Detection with Continuous Learning
Read Full Article: Real-time Fraud Detection with Continuous Learning
A prototype for a real-time fraud detection system has been developed, utilizing continuous learning to adapt quickly to changing fraud tactics. Unlike traditional systems that can take days to update, this system uses Apache Kafka for streaming events and Hoeffding Trees for continuous learning, enabling it to adapt in approximately two minutes. The system demonstrates real-time training, learning from each event, similar to how companies like Netflix and Uber operate. This approach showcases the potential for more responsive and efficient fraud detection systems, which is crucial for minimizing financial losses and improving security.
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