AI will stop you from getting scammed
+ AI boosts space capabilites
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Leonardo DiCaprio was named after da Vinci. His mom felt him kick for the first time while staring at a da Vinci painting. So, when you confuse the two, it’s kinda valid.
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What’s in store:
Say goodbye to scammy websites with AI’s latest upgrade.
NASA’s Spacecraft are learning to think for themselves.
Around the web: Pinterest adds a remix feature for users to build on existing collages.
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Read Time: 6 minutes
AI FINANCE
Mastercard has improved its Consumer Fraud Risk (CFR) solution with the power of AI to offer more protection against real-time payment scams.
The upgrade gives UK banks better visibility into transactions, helping them stop fraud before it happens.
The update lets receiving banks quickly check risk scores, making it easier to spot mule accounts—those scammers use to move stolen money.
Tests have shown a 60% improvement in detecting high-risk accounts early. Scammers hate this one trick!
Mastercard plans to expand this protection to more countries within the year, making the digital world safer for everyone.
Authorised Push Payment (APP) fraud, often caused by fake websites, emails, or texts, cost UK consumers £460m ($607m) in 2023.
Starting October 7th, new UK rules will make banks refund APP fraud victims, except for some limited cases.
The AI technology scans multiple data points in real-time, giving the sending bank a risk score.
In brief:
AI upgrades help UK banks detect mule accounts faster.
Tests showed a 60% improvement in early fraud detection.
From October, new rules will require banks to refund APP fraud victims.
Mule accounts? Not today!
The UK Payment Systems Regulator (PSR) reported that APP scams fell by 12% in value during 2023, from £389m ($514m) to £341m ($450m).
Data was collected from 14 major UK banks, showing a positive impact in reducing fraud.
How confident are you that AI is making a difference in stopping fraud? |
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On This Day
September 25th 1789 - The U.S. Congress passes the Bill of Rights, the first ten amendments to the U.S. Constitution, sending them to the states for ratification.
Tool of the Week
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AI SPACE
AI is set to change how space missions work, making spacecraft more independent and capable of handling tasks without waiting for commands from Earth.
NASA is moving towards missions where spacecraft, landers, and rovers work together, and AI is key to managing these more complex operations.
Evana Gizzi, AI research lead at NASA's Goddard Space Flight Center, explains that current methods are no longer enough.
As missions get more advanced, NASA needs AI to take on bigger roles.
OnAIR, an open-source AI platform available on GitHub, is helping to make it easier for space missions to use AI.
It’s designed to overcome the concerns of space planners, who tend to be cautious about using new, untested technology.
Here’s what they’re up to:
AI is becoming crucial for handling more complex space missions.
OnAIR is an open-source AI tool from NASA, available on GitHub, making AI easier to use in space.
Successful tests on missions like NAMASTE and the ISS show AI’s growing role in space exploration.
Letting spacecraft do their own homework
NASA has already tested OnAIR in the NAMASTE mission, where autonomous drones measured methane levels over Alaskan permafrost.
OnAIR helped the drones gather more useful data by using a standard method for processing information and taking measurements.
Another test took place on the International Space Station, despite hardware challenges.
The team successfully demonstrated how OnAIR can be integrated into the station’s systems, proving AI’s potential for future missions.
We’re gonna be asking “are we there yet?” every 5 minutes.
Mindstream Picks
Space: Maxar Intelligence is opening its first international headquarters in London to meet growing demand for geospatial intelligence.
Crypto: Dagestan officials seek tougher action against cryptocurrency miners, blaming them for power outages and illegal underground operations.
Games: Sega announced it will host the fourth annual Sonic Central presentation tomorrow, offering a preview of upcoming Sonic the Hedgehog content.
Sports: Dean Campbell, known for knocking out Premier League giants in cup competitions, will seek inspiration as Barrow faces Chelsea in the Carabao Cup on Tuesday.
Don’t Miss - Pinterest’s new remix feature lets users build upon others' collages by adding images, text, and drawings. It also offers the option to enable or disable remixing. The feature, originally from the Shuffles app, is now integrated into Pinterest and allows users to turn their creations into shareable videos.
AI Art
Our Image of the Day
Artwork submitted by Mindstream reader Eileen T: “Alien making balloon animals”
Daily Image Prompt
Whale swimming through the stars
Yesterday’s Poll
“How do you feel about AI bots finally having to pay for content scraping?”
Love it—about time creators got paid! - 59% ✅
Meh, I’m not sure how this will work out yet. - 41%
Your Views:
“Large corporations have been able to control marketplaces for their exclusive benefit for too long. Allowing small business to profit from their efforts is only fair.” - m_yeates
“They should pay - I would take payment for my data.” - Coates
Submit your opinions in our daily poll to be featured!
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