Making Millions Out Of Artificial Intelligence: Brighterion CEO Akli Adjaoute (Part 6)

Sramana: Brighterion today has a fraud detection product that has done well among banks. You have started working with [the Department of ] Homeland Security and healthcare fraud providers. Where do you take Brighterion from here?

Akli Adjaoute: We have proved the fraud detection capability to the market. We have proven real-time artificial intelligence to the market. A lot of times people thought I was crazy, so we had to prove to the market that we had a solid, scalable product. We process 400 transactions per second for MasterCard with a throughput of less than 100 milliseconds. We process 2,700 transactions per second with a throughput of less than 50 milliseconds.

Keep in mind that when we process, the stores are having their customers swipe their cards in real time and it is on our system to analyze each cardmember’s purchasing patterns. It is so complex that we had to create not only artificial intelligence but a method to explore and analyze data in real time. Databases are too slow. When you consider the scope of the challenge that we have solved, you will see that it is a miracle, and I am extremely proud of the team that designed the system. MasterCard will guarantee 99.999% reliability based on our system. We have proven to the market that we are legitimate.

We are different than anyone else in the fraud area. Each cardholder has a unique spending pattern and each merchant has a unique selling pattern. All of the technologies in the market were applying the same curves and logic for cardholders and merchants. With our smart agents, we follow the behavior of each cardholder specifically. Rules don’t adapt. As soon as you release them, they are outdated. When you talk about fraud prevention you can see why rules don’t work. They are outdated the moment the rules are released because they do not adapt to new fraud schemes.

Brighterion uses different technology. We value real time behavior specific to each cardholder and merchant. We have the highest detection rate and the lowest false positive rate. We allow our fraud models to learn and make changes real time. We are the only product with the ability to identify and stop fraud real time. We can stop new fraud schemes real time.

Sramana: What I find fascinating about your story is that you have been able to monetize comprehensive and deep expertise in artificial intelligence and build real business solutions using that expertise. That is very impressive, because very few entrepreneurs have succeeded in doing that.

Akli Adjaoute: It was extremely important to me that our solution worked for every single customer. Now we are moving from financial services and are beginning to work in hardware. We are finding out that detecting and preventing hardware failure requires adaptive technology rather than our current technique.

We are also beginning to explore solutions for marketing. People are sending thousands and millions of note communications to customers. Our technology will provide a clear way to obtain higher response rates. We will provide companies with a way to respond to the likes and dislikes of each customer in real time.

This segment is part 6 in the series : Making Millions Out Of Artificial Intelligence: Brighterion CEO Akli Adjaoute
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