The Role of Artificial Intelligence in Maritime Fraud
The shipping industry and the global economy in general are continually hampered by major obstacles emanating from maritime fraud. Thanks to huge strides in technology, artificial intelligence (AI) has forced its way as a powerful instrument employed in curbing and tackling fraud. Thus, the current...
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| Format: | Electronic Article |
| Language: | English |
| Published: |
2024
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| In: |
International journal of criminal justice sciences
Year: 2024, Volume: 19, Issue: 1, Pages: 411-427 |
| Online Access: |
Volltext (kostenfrei) |
| Check availability: | HBZ Gateway |
| Keywords: |
| Summary: | The shipping industry and the global economy in general are continually hampered by major obstacles emanating from maritime fraud. Thanks to huge strides in technology, artificial intelligence (AI) has forced its way as a powerful instrument employed in curbing and tackling fraud. Thus, the current study investigates how expert systems and AI neural networks relate to and exert an effect on maritime fraud. To assessing effects and correlations at a significance threshold of 5%, it was deemed that a quantitative design is needed for this study to collect the required data from National Insurance Company workers using predefined questionnaires. The results obtained from this study revealed that the use of AI technologies is strongly correlated, as statistics demonstrated, with the detection of maritime fraud. On the one hand, expert systems can lend dependable decision-making assistance, while neural networks show promise in identifying fraudulent patterns on the other. The current study also demonstrated how artificial intelligence (AI) may indeed improve fraud detection by virtue of increasing two important factors: namely, efficiency and accuracy. The utilisation of AI-driven solutions for preventing fraud activities can in fact be better understood thanks to these findings, which can especially feed into several parties ranging from regulatory bodies, to insurers, and those in charge of shipping industry. Utilising AI capabilities can serve several aspects such as i) improving industry transparency, ii) boosting compliance, and iii) reducing operation-related risks. It is hoped that through utilising cutting-edge AI techniques in the realm of maritime fraud the current study can bridge a significant lacuna in the body of literature on this topic. |
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| ISSN: | 0973-5089 |
