Ms Niamh Davenport:

We have not done any investigations specifically at industry level. However, we have obviously seen that AI is beneficial in preventing fraud. It can identify patterns and typologies quite quickly. From the point of view of technology, it is obviously expensive to bring in but it can also go to the other side as well. We have seen the first case of fraud with AI in the UK. Someone was able to impersonate a voice. It is one of those things. There needs to be balance to it but there are definitely benefits to using AI to prevent fraud.