RBI Governor Urges Banks to Use AI to Fight Fraud

The leader of India's central bank, the RBI, talked to banks about catching people who steal money using clever computer tricks.

He said these bad actors work very fast, moving at the speed of a computer message.

Old ways of catching them use fixed rules, which he said are always one step behind.

That is because cheaters change their tricks often, faster than the rules can be updated.

He thinks the answer is a special kind of smart computer program called machine learning.

This program watches how money moves and learns from patterns over time.

It can spot something strange happening right away, instead of after the money is already gone.

He said this smart technology, called AI, is the best way to limit these frauds.