CEOWORLD magazine

5th Avenue, New York, NY 10001, United States
Phone: +1 3479835101
Email: info@ceoworld.biz
CEOWORLD magazine - Latest - CEO Opinions - How Strong Is Your Shield Against Fraud?

CEO Opinions

How Strong Is Your Shield Against Fraud?

Dave Curtis

3 Reasons You Need AI-Powered Spend Analytics. Have you modernized your spend management? 

It’s Data Privacy Week — a week dedicated to “safeguarding data” and understanding the many consequences of data violations. Believe it or not, your organization is likely suffering from several types of fraud, and comprehensive spend analytics software, enhanced by artificial intelligence (AI), is your only true shield against them.

It’s estimated that the average business loses 5% of its revenue to fraud, and that percentage is largely considered conservative. Non-compliant reimbursements and digital payment fraud are difficult to monitor effectively, meaning a sizable chunk of additional losses may go undetected or unreported. Regardless, the problem is ubiquitous — affecting small, medium, and large organizations alike — and no traditional protection seems capable of keeping up.

Thankfully, technology has provided a shield strong enough for the future of fraud. AI-powered analytics can provide complete visibility of your payment system, bolstering compliance in expense management and keeping you one step ahead of fraudulent payments. On top of that, these analytics can improve payment efficiency across the board, which not only strengthens overall cash flow, but also serves to put a stop to fraud before it even happens.

I am a trusted pioneer in the field of AI-enhanced business operations. Join me in taking a closer look at the three major benefits to AI-powered spend analytics and see how these tools are essential to safeguarding your organization’s data and providing future-proof fraud protection.

1. AI keeps you ahead of the payment fraud evolution. 

A 2023 survey from the Association of Financial Professionals revealed that 84% of businesses with revenues exceeding $1 billion and over 100 payment accounts on file were subject to fraud, and those numbers are still quite high for smaller companies. This is why modern spend management is anchored by AI-powered analytics software — because it’s the only way your organization stays ahead of the payment fraud evolution.

Credit card fraud and fraud prevention are evolving in tandem, so there’s no way your company is going to stay protected unless you have technology that keeps you ahead of the curve. As fraudsters become more sophisticated in their attacks, it will eventually become almost obligatory to use AI-enabled protection in order to stay competitive. The only difference is that the companies who embraced AI early and earnestly will be better positioned for success.

The best AI-powered software comes complete with real-time, intuitive data dashboards for comprehensive visibility of your payment system. This data can be arranged and rearranged through multiple lenses, making it easy to isolate all types of risk. What’s more, these systems and softwares are always learning and evolving to prevent the next level in payment fraud.

2. AI bolsters compliance in expense management. 

Did you know that nearly a quarter of employees admit to some form of expense or reimbursement fraud? Now imagine how big that number would be if you were guaranteed an honest response from everyone.

Taken by themselves, these violations are often fairly minor, and sometimes they are even the product of a simple oversight. Taken together, however, these fraudulent reimbursements can have a serious impact on the bottom line. What’s more, they can eventually become a part of your company culture and perpetuate themselves into eternity. For example, if it becomes an “accepted practice” to be fraudulent about a particular expense, all current employees and new hires will feel pressured to do the same.

AI-powered analytics offer complete visibility of your organization’s spend, meaning end-to-end expense auditing is now an attainable reality. AI software can also pinpoint the policy changes or compliance improvements that will be the most effective in putting a stop to expense fraud within your organization — all without the bias of intuition or personal preference. In this way, highly advanced software is not only shielding you against fraud, but it’s also proactively protecting your working culture.

3. AI increases payment efficiency across the board.  

These two AI functionalities are actively working to prevent fraud. Meanwhile, AI also increases your payment efficiency as a whole, which is a passive means of preemptively putting a stop to fraudulent action. Payment optimization should not be viewed merely as a finance function, but also as a means of strengthening supplier relationships and removing the incentive to pay late, pay fraudulently, or simply not pay at all.

Over 70% of small to medium-sized businesses (SMBs) are impacted by late payments. Even worse, late payments from large companies can be seen as deliberate and often have devastating consequences for SMBs. AI-powered software can predict payment time behavior and evaluate risk before it happens. Additionally, it encourages early payment, which reinforces B2B relationships and offers the perfect opening for discussing potential discounts.

Strengthen your shield — protect your payments.  

Fraud isn’t going anywhere. In fact, most would argue that it’s only getting increasingly complex and difficult to confront. Technology is your ticket to staying competitive, and AI-powered software is the ticket you want to buy. It keeps you one step ahead of fraudsters and their most sophisticated tactics. It bolsters employee compliance with expense management, and it turns your payment system into a passive boon to your business.

AI is the next evolution in fraud protection. In some ways, it is the final evolution because it will only continue to train and improve itself.


Have you read?
Countries with the highest human freedom.
World’s Safest & Most Dangerous Countries For Travelers.
Longest and Shortest Life Expectancies in the World.
World’s Most And Least Stressed Countries.
Best cities in the world.


Bring the best of the CEOWORLD magazine's global journalism to audiences in the United States and around the world. - Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Copyright 2025 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine' prior written consent. For media queries, please contact: info@ceoworld.biz
CEOWORLD magazine - Latest - CEO Opinions - How Strong Is Your Shield Against Fraud?
Dave Curtis
Dave Curtis is Chief Technology Officer at RobobAI, a cutting-edge AI platform revolutionizing how organizations manage their supply chains ethically and commercially. A senior technology executive with experience in both large multinational corporations and technology start-ups, Dave is committed to supporting the C-Suite in using technology to identify and execute on strategic opportunities to drive business performance and value. With over two decades of experience in technical solutions, artificial intelligence and machine learning, he leads a talented team of engineers and researchers in developing innovative solutions that redefine the future of automation. Explore robobai.com.


Dave Curtis is an Executive Council member at the CEOWORLD magazine. You can follow him on LinkedIn.