The European Central Bank has placed a huge plant for artificial intelligence, handing a Portuguese company Felezai a contract with a value of up to 237 million euros to protect the upcoming digital euro from fraud.
According to ReutersThe contract covers four years, and the ropes in PwC as a subcontractor. Their mission?
Build AI models that mean suspicious transactions, comparing them with the behavioral patterns of each user.
It's a brave move and let's be real – it must be. Cash falls, card payments are still largely based on giants such as Visa and Mastercard, and Europe has long been itching for greater autonomy.
How Financial Times EBC perceived at the beginning of this week perceives the digital euro as the cornerstone of independence, especially when American meat stablexins to the payment area.
Detection of fraud is not or just a nice addition-it is something that can make or break public trust.
Consider how India is already preparing AI power supply Digital payments intelligence platform That the police are risky transactions in real time.
If Europe wants its citizens to adopt a completely new currency of the central bank, solid protection against fraud is not negotiable.
Meanwhile, corporate money rushes towards AI powered finances at speed. Just a few days ago Riverwood Capital has invested $ 180 million in AppzenCompany Automation of audits and compliance with expenses.
This is a reminder that banks and regulatory bodies do not bet on the farm on algorithms.
Of course, I can't not wonder – what happens when the machines begin to call about what “suspicious”?
We all had a completely normal transaction marked as “unusual” by some clumsy system. Multiply it by millions of Europeans and, well, you can imagine headaches.
Despite this, Felezai processes trillions every year, so maybe they are better equipped than most.
There is something almost cinema: central banners, regulatory authorities, start -ups AI, everyone is trying to write money in the future before fraudsters get it. Rates?
Nothing other than the credibility of the largest monetary experiment in Europe for decades. And in the intestines I feel that this is only an opening act.
A real drama begins when this digital euro finally hits the wallets of ordinary people.
