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How can businesses use machine learning and artificial intelligence to detect and prevent online fraud?
Summary of the video
Dennis Weiss, is the founder and CEO of IPQS. Dennis shares his background and the founding of IPQS, which stemmed from his experience with fraud in the advertising industry. They discuss how IPQS uses machine learning and AI to mitigate online fraud risks for businesses. IPQS analyzes various data points such as IP addresses, device fingerprinting, and email validation to detect and prevent fraud. They offer a comprehensive solution compared to competitors who focus on specific data points. The goal is to catch fraud before it happens and provide a frictionless experience for legitimate users. IPQS serves businesses across different industries, including finance, gambling, ride-sharing, and food delivery. They prioritize data accuracy to minimize false positives. The conversation highlights the importance of having the right data and constantly testing and learning to improve fraud prevention strategies.
Dennis Weiss is a successful entrepreneur who learned the value of hard work and resilience from his immigrant parents. He started making money at a young age by cutting lawns and shoveling snow and later founded his own internet marketing company while still in school. Despite facing setbacks from fraudulent activities, he persevered and developed proprietary technology to prevent fraud, which became the foundation for his most successful company, IPQS.com. Today, he also runs a spirits distillery and a coffee roastery. Dennis prioritizes time with his family and encourages others to learn through practical experience.