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Fraud Detection and Prevention Global Market Report 2022: Rising Incidences of ATOs & Phishing Emails Augment Fraud Detection Demand

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Dublin, July 08, 2022 (GLOBE NEWSWIRE) — The “Fraud Detection and Prevention – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

The global market for Fraud Detection and Prevention estimated at US$19.5 Billion in the year 2020, is projected to reach a revised size of US$46.4 Billion by 2026, growing at a CAGR of 14.8% over the analysis period.

Global Fraud Detection and Prevention Market to Reach $46.4 Billion by 2026
The global fraud detection and prevention market is heading for impressive gains on account of rising incident and sophistication of frauds coupled with continuing focus on the use of latest technology to timely detect the fraud activity. A fraud represents an illegal act intended to obtain consumer data or credential for specific gains, mainly monetary.

Fraud detection and prevention solutions are software applications that offer sophisticated analytical tools to detect and prevent fraud in real-time. These tools analyze data from different sources to identify anomalous patterns by detecting doubtful trends, transactions and situations. Fraud detection and prevention tools verify user identity, maintain data integrity and prevent unauthorized access to data.

These platforms have gained considerable attention in the recent years due to increasing digitalization, popularity of online or Internet banking, advent of cloud services, and growing sophistication of frauds. Rising concerns pertaining to high incident of frauds and associated considerable loss of revenue for organizations are creating new avenues for fraud detection and prevention solutions. The market growth is favored by financial crimes, cyber-attacks and digital frauds that are making it extremely challenging for businesses to grow while maintaining consumer trust.

Key Topics Covered:

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I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

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  • Digital Transformation of Businesses and Need to Ensure Security of Sensitive Data to Spur Market Demand
  • Global Digital Data Created (In Zettabytes) for the Years 2015, 2020, 2025, and 2030
  • Digital Transformation Accelerates Demand for Tools to Safeguard Enterprise Data: Global Digital Transformation Spending (In US$ Billion) for 2017-2023
  • Rise in Moneylaundering Cases Drives the Uptake of Fraud Detection and Prevention Solutions
  • Rising Incidences of ATOs & Phishing Emails Augment Fraud Detection Demand
  • Booming e-Commerce Industry Aggravates the Risk of Fraud
  • Global e-Commerce Opportunity (In US$ Billion) for Years 2018, 2020, 2022 & 2024
  • Types of E-Commerce Frauds
  • COVID-19 Pandemic Elevates Opportunities
  • Global B2C eCommerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
  • Global eCommerce Market as a % of Retail Sales for the Period 2017, 2019, 2021 and 2023
  • Rise of Digital Banking Brings Out BFSI as the Largest Spender on Fraud Prevention
  • Global Digital Banking Opportunity (In US$ Billion) for Years 2018, 2020, 2022 and 2024
  • Global Digital Transaction Value (In US$ Billion) for Years 2018, 2020, 2022 and 2024
  • Global Internet Users in Billion for the Years 2014 through 2020
  • Risk Analysis in Real-Time to Thwart Frauds in Banking Sector
  • Increase in the Use of Artificial Intelligence and Machine Learning in Banking Sector to Boost Fraud Detection and Prevention Market
  • Anomaly Detection: An Overview
  • Cumulative Global Online Fraud (In US$ Billion) Between 2020 to 2024 by Region
  • Growing Global IoT Ecosystems Pushes Up the Risk of Fraud
  • Global Number of IoT Connected Devices (In Billion) for the Years 2016, 2018, 2020, 2022 & 2025
  • Opportunity Indicator: Global Spending (In US$ Billion) on IoT for the Years 2019, 2020, 2021, 2022 & 2024
  • IoT Enabled Fraud, a Major Concern for Merchants in the Current Scenario
  • Data Analytics & AI Helps Crack Down on Fraud Detection
  • Blockchain for Fraud Prevention: A New & Potent Weapon in the Making
  • Blockchain’s Powerful Fraud Prevention Features
  • AI Set to Raise the Bar in Fraud Detection
  • Businesses Increasingly Adopt Customer-centric Fraud Prevention Techniques
  • Increasing Volume of Non-cash Payment/Transaction Volumes Drive Uptake of Fraud Detection and Prevention Market
  • Is COVID-19 Scenario Making Payment Space to Bid Adieu to Cash Payments?
  • More Payment Options
  • Rise in Application of Hybrid Analytical Approaches
  • Healthcare Networks Confront Growing Threat of Cyberattacks
  • Fraud Protection Software for eCommerce Businesses and the Travel Industry
  • Role of Machine Learning in Fraud Detection Gaining Prominence

4. GLOBAL MARKET PERSPECTIVE

Companies Mentioned

  • ACI Worldwide Inc.
  • BAE Systems plc
  • Cacco Inc.
  • Cybersource Corporation
  • DXC Technology Company
  • Equifax Inc.
  • Experian plc
  • Fair Isaac Corporation
  • Feedzai Inc.
  • Fiserv, Inc.
  • Global Payments Inc.
  • IBM Corporation
  • LexisNexis Risk Solutions Group
  • NICE Ltd.
  • Oracle Corporaton
  • RSA Security LLC
  • SAP SE
  • SAS Institute Inc.
  • Software AG

For more information about this report visit https://www.researchandmarkets.com/r/9ai5iy

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Artificial Intelligence

Northern Data Group is first in Europe to acquire NVIDIA H200 GPUs

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First in Europe to acquire NVIDIA H200 GPUs – currently the most powerful GPUs on the market The deployment further expands the Group’s Generative AI CSP offering, already the largest in Europe Further demonstration of the Group’s continued commitment to providing best-in-class technologies FRANKFURT, Germany, July 1, 2024 /PRNewswire/ — Northern Data Group (Ticker symbol German stock market: NB2, ISIN: DE000A0SMU87), a leading provider of High-Performance Computing (HPC) solutions, today announces it has purchased NVIDIA H200 GPUs through a newly established partnership with Supermicro, a global leader in Application-Optimized Total IT Solutions.

Northern Data Group’s cloud platform, Taiga Cloud will be the first Cloud Service Provider (CSP) in Europe to offer access to the H200 GPU hardware, with delivery and deployment scheduled for Q4 2024. The partnership with Supermicro for the NVIDIA H200 GPUs will further build its HPC solutions and complement its existing offering of best-in-class GenAI technologies.
This purchase of the H200 GPUs demonstrates Northern Data Group’s commitment to offering the best-in-class technology to its customers, as it continues to expand its cloud solutions offering, while also maintaining its position as Europe’s first and largest dedicated Generative AI Cloud Service Provider.
The first full island of over 2,000 NVIDIA H200 GPUs utilizing BlueField-3 data processing units (DPUs) and NVIDIA Mellanox CX7 NICs, to deliver 32 petaFLOPS of performance. The configuration of NVIDIA-referenced architecture allows customers to access more bandwidth, faster, and more efficient data storage access. The H200 GPUs will be housed in one of Northern Data Group’s European data centers, powered by carbon-free, renewable energy and boast a Power Usage Effectiveness ratio of less than 1.2.
Aroosh Thillainathan, Founder and CEO, Northern Data Group, commented:
“Our GenAI platform is constantly evolving and we are proud to collaborate with Supermicro to be the first in Europe to offer access to NVIDIA H200 GPUs. This is testament to our commitment to continually offer industry-leading, next-generation solutions. 
“As an Elite Partner of NVIDIA, we are proud to continue to offer cutting-edge technology, deployed in line with recommended architecture references to maximize the technology.” 
Vik Malyala, President & Managing Director, EMEA; SVP, Technology & AI, Supermicro commented:
“We are excited to collaborate with Northern Data Group to expand its GenAI Cloud offering to include Supermicro GPU servers based on latest Nvidia H200 HGX GPUs.  Supermicro is fully committed to delivering most performant and energy efficient AI infrastructure and solutions, and this collaboration will accelerate availability and bring the best value for customers in Europe.”
About Northern Data Group: 
Northern Data Group (ETR: NB2) is a leading provider of High-Performance Computing (HPC) solutions to businesses and research institutions, utilizing GPU- and ASIC-based solutions. Our flexible compute power fuels innovation in our three core business platforms: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy. 
About Taiga Cloud:
Taiga Cloud, a Northern Data Group platform, is Europe’s first and largest Generative AI Cloud Service Provider. We provide a flexible, secure and compliant cloud-based ultra-fast GPU Network, engineered to meet organizations’ most ambitious compute needs. Taiga Cloud recognizes that high-intensity, large-scale processing power is crucial for accelerating Generative AI models and research which will deliver a new era of technological breakthroughs. Taiga’s energy-efficient Cloud is powered by Europe’s largest cluster of NVIDIA A100 Tensor Core and H100 Tensor Core GPUs, helping enable organizations to accelerate AI and ML innovation on demand, with technology that is fully scalable.

View original content:https://www.prnewswire.co.uk/news-releases/northern-data-group-is-first-in-europe-to-acquire-nvidia-h200-gpus-302185926.html

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Artificial Intelligence

Dawn Health and Merck are collaborating to support Growth Disorders care

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COPENHAGEN, Denmark, July 1, 2024 /PRNewswire/ — Dawn Health, the digital health company pioneering patient-first innovation, has announced they are working with leading global pharmaceutical company, Merck, on a digital solution for Growth Hormone Disorders (GHD).

Over the next two years, they will join forces to deliver a cutting-edge, user-centric digital platform, designed to help improve the lives of tens of thousands of patients across more than 40 countries.
By harnessing the latest AI technologies, the collaboration will also involve exploring the integration of features such as growth predictions and advanced personalization into the digital product, with excitement about AI and its potential for impact on user experience, adoption, adherence, and treatment outcomes. The digital solution will provide support to children and young adults living with GHD, as well as providing tools and support to their caregivers, both at home and in a clinical setting. 
With a shared commitment to improving patient lives, the collaboration will focus on patient-centricity to deliver an intuitive, engaging product that supports users and caregivers throughout their treatment journey. This means speaking with patients to truly understand their unmet needs and how the solution can best address these, as well as hearing from caregivers and healthcare professionals about how to best empower and support those living with GHD.
The collaboration is already off to a strong start, with workshops and inspiring discussions happening between the teams at Dawn Health and Merck, as they work together to deliver a cutting-edge platform on a global scale to improve the lives of people living with Growth Hormone Disorders.
About Merck
Merck, a leading science and technology company, operates across life science, healthcare and electronics. Around 63,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From providing products and services that accelerate drug development and manufacturing as well as discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2023, Merck generated sales of € 21 billion in 65 countries. Scientific exploration and responsible entrepreneurship have been key to Merck’s technological and scientific advances. This is how Merck has thrived since its founding in 1668. The founding family remains the majority owner of the publicly listed company. Merck holds the global rights to the Merck name and brand. The only exceptions are the United States and Canada, where the business sectors of Merck operate as MilliporeSigma in life science, EMD Serono in healthcare, and EMD Electronics in electronics.
All Merck press releases are distributed by e-mail at the same time they become available on the Merck website. Please go to www.merckgroup.com/subscribe to register online, change your selection or discontinue this service.
About Dawn Health
Dawn Health is a global leader in digital health, specializing in the development of software as a medical device (SaMD) and digital therapeutics (DTx). Partnering with pharmaceutical companies, Dawn Health accelerates the launch of digital solutions to change the lives of people with chronic conditions.
Media Contacts
For questions about [email protected] 
For questions about Dawn HealthChristopher Kold, [email protected]
 

View original content:https://www.prnewswire.co.uk/news-releases/dawn-health-and-merck-are-collaborating-to-support-growth-disorders-care-302184356.html

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Artificial Intelligence

Transforming Healthcare with AI: Yidu Tech’s Gong Rujing at Summer Davos

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DALIAN, China, July 1, 2024 /PRNewswire/ — “AI in healthcare is extremely challenging. For companies, it requires not only solving scientific problems but also understanding AI technology and respecting the complexity of the healthcare industry.” At the 15th Annual Meeting of the New Champions, also known as Summer Davos, Ms. Gong Rujing (Yingying), Chairwoman and Founder of Yidu Tech, was invited as a distinguished representative of the healthcare technology sector. She shared her unique insights into the future of AI in healthcare during the thematic dialogue on “Healthcare Analytics, Not Moving Fast Enough.”

This year marks the 10th anniversary of Yidu Tech and Ms. Gong Rujing’s decade-long dedication to the healthcare industry. From the inception of her entrepreneurial journey 10 years ago, she has been driven by the mission to leverage the power of technology to deliver precise healthcare to every individual.
Ms. Gong described the past decade as a journey filled with miracles and achievements. During this period, Yidu Tech has progressively established close collaborations with key stakeholders in the healthcare industry, including government agencies, hospitals, pharmaceutical companies, insurance firms, experts, and clinicians. As of March 31, 2024, Yidu Tech’s “AI Medical Brain” YiduCore has been authorized to process and analyze over 5 billion medical records, covering more than 2,500 hospitals.
In AI-powered clinical research, Yidu Tech has supported researchers and clinicians in producing over 240 high-level papers, accelerating the application of research outcomes. Additionally, Yidu Tech provides clinical trial services to globally renowned pharmaceutical companies, helping them optimize trial processes, reduce costs, and bring new drugs to market more swiftly, ultimately benefiting patients. In healthcare management, Yidu Tech’s AI technology plays a crucial role by analyzing vast amounts of medical data to provide comprehensive decision support to healthcare administrators, helping them optimize resource allocation and improve service efficiency.
“We are now entering a new era of AI technology.” The development of large language model technologies has opened up new possibilities across various industries. Yidu Tech has independently developed a large language model specific to the medical field and is advancing its application across the entire healthcare industry chain. The goal is to promote further progress and innovation through new AI technologies. However, Ms. Gong also emphasized that the healthcare industry is professional, complex, and sensitive, and the application of new technologies must address challenges such as data security, privacy protection, and ethics.
“Data security and privacy protection are fundamental to the development of AI technology and medical big data technology. We must ensure that all stakeholders are satisfied with compliance, security, accessibility, and privacy protection.”
“AI technology still has a long way to go.” She called on policymakers, healthcare institutions, and technology companies to work together to realize the immense potential of healthcare data. Ms. Gong highlighted that building trust is key, and enhancing data operability is essential to fully unleash the power of data. “It’s not just about better data quality; it’s about a better future for health.”

View original content:https://www.prnewswire.co.uk/news-releases/transforming-healthcare-with-ai-yidu-techs-gong-rujing-at-summer-davos-302186561.html

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