The AI in Business Podcast
AI’s Role in Fraud and Credit Risk - with Shrimanth Adla of Comcast
Dec 18, 2024
Shrimanth Adla, Senior Director of Credit Risk at Comcast, dives into the complexities of managing credit and fraud risks in retail and telecom. He discusses the unique challenges these industries face and how AI can help differentiate between genuine credit issues and deceitful fraud attempts. Shrimanth highlights the need for a tailored approach to assess customer creditworthiness while maintaining strong relationships. His insights on balancing technological advancements with human oversight offer a fresh perspective on risk management strategies.
19:25
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Quick takeaways
- Understanding the distinction between credit risk and fraud risk is essential for developing tailored strategies that address each challenge effectively.
- AI significantly enhances risk management by improving data analysis and decision-making but requires careful implementation to ensure transparency and regulatory compliance.
Deep dives
Understanding Credit Risk vs. Fraud Risk
Credit risk and fraud risk are fundamentally different, primarily due to the element of intent involved. Fraud typically involves malicious intent from the onset, as fraudsters aim to deceive businesses for personal gain. In contrast, credit risk often arises when consumers face unforeseen financial hardships, such as job loss or rising living costs, which can lead to difficulties in meeting payment obligations. This distinction requires that businesses develop tailored strategies for each risk type, balancing customer relationships with risk management.
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