Unknown Organization (20240289802). BLOCKCHAIN BASED ARTIFICIAL INTELLIGENCE RISK DETECTION AND INTERVENTION SYSTEMS AND METHODS simplified abstract
Contents
BLOCKCHAIN BASED ARTIFICIAL INTELLIGENCE RISK DETECTION AND INTERVENTION SYSTEMS AND METHODS
Organization Name
Inventor(s)
Janelle Marina Mendez Viera of Albany NY (US)
BLOCKCHAIN BASED ARTIFICIAL INTELLIGENCE RISK DETECTION AND INTERVENTION SYSTEMS AND METHODS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240289802 titled 'BLOCKCHAIN BASED ARTIFICIAL INTELLIGENCE RISK DETECTION AND INTERVENTION SYSTEMS AND METHODS
The patent application relates to using artificial intelligence and machine learning to detect fraud and assess risks in blockchain transactions.
- Artificial intelligence financial technology blockchain (AIFTB) is created to predict user actions and detect risks or legal concerns.
- AIFTB can execute smart contracts based on the risk and legality of the data received.
- The system can alert authorities based on its predictions.
Potential Applications:
- Financial institutions can use this technology to enhance security and compliance in blockchain transactions.
- Government agencies can leverage this system to monitor and prevent fraudulent activities in the financial sector.
Problems Solved:
- Improves fraud detection and risk assessment in blockchain transactions.
- Enhances regulatory compliance and reduces legal risks associated with financial activities.
Benefits:
- Increased security and transparency in blockchain transactions.
- Efficient monitoring and intervention in suspicious activities.
- Enhanced compliance with regulatory requirements.
Commercial Applications: Financial institutions can integrate this technology into their systems to improve security and compliance in blockchain transactions, gaining a competitive edge in the market.
Questions about the technology: 1. How does the AIFTB system differentiate between legitimate and fraudulent transactions? 2. What are the potential limitations of using artificial intelligence in blockchain transactions?
Frequently Updated Research: Stay updated on the latest advancements in artificial intelligence and machine learning technologies for fraud detection and risk assessment in blockchain transactions.
Original Abstract Submitted
disclosed herein are methods and systems related to fraud detection, risk assessment, and intervention. more specifically, this is related to conducting and monitoring transactions on a blockchain through the use of artificial intelligence, ai, and machine learning. this combination can be applied to financial systems to create an artificial intelligence financial technology blockchain, aiftb. the aiftb is able to receive a variety of data and use it to predict actions being taken by users and detect if there are any risks or legal concerns with the activity. the aiftb is then able to apply its training to execute smart contracts on the blockchain based on the risk and legality of the data it received. finally it will alert appropriate authorities based on the predictions.
