IBM just revealed its Telum processor, which is rigged with AI technology to help detect fraud in real-time.
The new IBM Telum processor is the first from the company to have on-chip acceleration for AI interfacing as a transaction is being conducted.
IBM spent three years developing this thing, which can be used in the world of financing, trading, banking, as well as for insurance applications and interacting with customers.
This chip could change how businesses detect fraud. As you know, frauds committed are only detected after the fact. Now, with this new chip, fraud can be spotted instantly and in real-time with almost no latency.
IBM highlights Telum’s innovative centralized design that will allow users to take full advantage of its power for AI-specific workloads. The company claims that financial companies and service providers can use utilize it for fraud detection, clearing and settlement of trades, loan processing, risk analysis, and anti-money laundering.