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Purpose: This chapter aims to examine machine learning (ML) models for predicting credit card fraud (CCF).

Need for the study: With the advance of technology, the world is increasingly relying on credit cards rather than cash in daily life. This creates a slew of new opportunities for fraudulent individuals to abuse these cards. As of December 2020, global card losses reached $28.65billion, up 2.9% from $27.85 billion in 2018, according to the Nilson 2019 research. To safeguard the safety of credit card users, the credit card issuer should include a service that protects customers from potential risks. CCF has become a severe threat as internet buying has grown. To this goal, various studies in the field of automatic and real-time fraud detection are required. Due to their advantageous properties, the most recent ones employ a variety of ML algorithms and techniques to construct a well-fitting model to detect fraudulent transactions. When it comes to recognising credit card risk is huge and high-dimensional data, feature selection (FS) is critical for improving classification accuracy and fraud detection.

Methodology/design/approach: The objectives of this chapter are to construct a new model for credit card fraud detection (CCFD) based on principal component analysis (PCA) for FS and using supervised ML techniques such as K-nearest neighbour (KNN), ridge classifier, gradient boosting, quadratic discriminant analysis, AdaBoost, and random forest for classification of fraudulent and legitimate transactions. When compared to earlier experiments, the suggested approach demonstrates a high capacity for detecting fraudulent transactions. To be more precise, our model’s resilience is constructed by integrating the power of PCA for determining the most useful predictive features. The experimental analysis was performed on German credit card and Taiwan credit card data sets.

Findings: The experimental findings revealed that the KNN achieved an accuracy of 96.29%, recall of 100%, and precision of 96.29%, which is the best performing model on the German data set. While the ridge classifier was the best performing model on Taiwan Credit data with an accuracy of 81.75%, recall of 34.89, and precision of 66.61%.

Practical implications: The poor performance of the models on the Taiwan data revealed that it is an imbalanced credit card data set. The comparison of our proposed models with state-of-the-art credit card ML models showed that our results were competitive.

Purpose – The advancement of multimedia technology has spurred the use of multimedia in business practice. The adoption of audio and visual data will accelerate as marketing scholars become more aware of the value of audio and visual data and the technologies required to reveal insights into marketing problems. This chapter aims to introduce marketing scholars into this field of research.Design/methodology/approach – This chapter reviews the current technology in audio and visual data analysis and discusses rewarding research opportunities in marketing using these data.Findings – Compared with traditional data like survey and scanner data, audio and visual data provides richer information and is easier to collect. Given these superiority, data availability, feasibility of storage, and increasing computational power, we believe that these data will contribute to better marketing practices with the help of marketing scholars in the near future.Practical implications: The adoption of audio and visual data in marketing practices will help practitioners to get better insights into marketing problems and thus make better decisions.Value/originality – This chapter makes first attempt in the marketing literature to review the current technology in audio and visual data analysis and proposes promising applications of such technology. We hope it will inspire scholars to utilize audio and visual data in marketing research.

Introduction: The insurance sector is playing a crucial role in the sustainable growth of the Indian economy. But in India, this sector loses crores of rupees every year due to the increasing fraud cases. With the increase in insurance customers, insurance companies need to efficiently equip themselves with a robust system to handle claims fraud. Detection of insurance fraud is a pretty challenging problem. Nowadays, machine learning (ML) and artificial intelligence (AI) are the strategic choices of many leading organisations that want to proceed in a new digital arena.

Purpose: This chapter’s main objective is to highlight the fundamental market forces driving the adoption of AI and ML and showcase the traditional and modern methods to predict insurance claims fraud intelligently.

Methodology: Various research papers have been reviewed, and ML methods have been discussed, which are all being used to predict insurance fraud claims. This chapter also highlights various driving forces influencing the adoption of ML.

Findings: This study highlights the introduction of blockchain technology in fraud detection and in combatting insurance fraud. Literature indicates that the quantity and quality of data significantly impact predictive accuracy. ML models are beneficial to identify the majority of fraudulent cases with reasonable precision. Insurance companies should explore the benefits of experienced resource persons from the same domain and develop unique business ideas/rules.

This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative information technology open architecture design and integrating Radio Frequency Identification Device data technologies and real-time optimization and control mechanisms as the critical technology components of the solution. The innovative information technology, which pursues the focused logistics, will be deployed in 36 months at the estimated cost of $568 million in constant dollars. We estimate that the Systems, Applications, Products (SAP)-based enterprise integration solution that the Army currently pursues will cost another $1.5 billion through the year 2014; however, it is unlikely to deliver the intended technical capabilities.

Failure to rescue events, or events involving preventable deaths from complications, are a significant contributor to inpatient mortality. While many interventions have been designed and implemented over several decades, this patient safety issue remains at the forefront of concern for most hospitals. In the first part of this study, the development and implementation of one type of highly studied and widely adopted rescue intervention, algorithm-based patient assessment tools, is examined. The analysis summarizes how a lack of systems-oriented approaches in the design and implementation of these tools has resulted in suboptimal understanding of patient risk of mortality and complications and the early recognition of patient deterioration. The gaps identified impact several critical aspects of excellent patient care, including information-sharing across care settings, support for the development of shared mental models within care teams, and access to timely and accurate patient information.

This chapter describes the use of several system-oriented design and implementation activities to establish design objectives, model clinical processes and workflows, and create an extensible information system model to maximize the benefits of patient state and risk assessment tools in the inpatient setting. A prototype based on the product of the design activities is discussed along with system-level considerations for implementation. This study also demonstrates the effectiveness and impact of applying systems design principles and practices to real-world clinical applications.

Purpose — In order to analyse applicability, comparability and limitations of GPS technology in travel surveys, different mobility survey techniques were tested in an Austrian pilot study.

Methodology/approach — Four groups of voluntary respondents recorded their travel behaviour over a time period of three consecutive days. The groups were assigned to three different and combined methods of data collection: Paper–pencil trip diaries, passive GPS tracking, active GPS tracking and prompted recall interviews.

Findings — The resulting mobility parameters show that self-reported paper– pencil surveys yield accurate sociodemographic information on the respondents as well as trip purposes and modes of transportation, although too few trips are reported. Passive GPS-based methods minimize the strain for respondents. Methods that combine GPS-based data collection and questionnaire provide the most reliable mobility data at the moment.

Research limitations/implications — Due to funding restrictions the sample sizes had to be relatively small (235 participants). Further development in research methodology will increase the effectiveness of automated data analysis, for example more accurate detection of activities and transport modes. The usefulness of GPS-based data collection in a large-scale surveys is planned to be tested in the next Austrian national travel survey.

Originality/value of paper — The pilot study allows a detailed comparison of traditional and GPS-based travel survey methods for the first time, due to data collection combined with prompted recalls.

In this chapter, an attempt has been made to develop a security-based hardware system using an 8-bit single-chip microcontroller in conjunction with some sensor technology and lighting and alarming actuators. The proposed system aims to ensure the security and privacy of a dedicated area in terms of unauthorized human intrusion, hazardous gas leakage, extreme prolonged temperature changes, atypical smoke or vapor content in space and abrupt drop in illumination. The proposed system is capable of detecting any type of physical intervention and hazardous anomalies in the environment of the reserved space. In order to define the operation of the system, programs written in C++ with the special rule of code structuring have been deployed on the microcontroller using the Arduino Integrated Development Environment. The system is like a small container, enclosing all the respective sensor modules, microcontroller board and open connections for actuators. The proposed system is easy to use hardware and does not demand any human intervention for its functioning and can be installed with almost no changes in the infrastructure.

The use of artificial intelligence (AI) in management research is still nascent and has primarily focused on content analyses of text data. Some method scholars have begun to discuss the potential benefits of far broader applications; however, these discussions have not led yet to a wave of corresponding AI applications by management researchers. This chapter explores the feasibility and the potential value of using AI for a very specific methodological task: the reliable and efficient capturing of higher-level psychological constructs in management research. It introduces the capturing of basic emotions and emotional authenticity of entrepreneurs based on their macro- and microfacial expressions during pitch presentations as an illustrative example of related AI opportunities and challenges. Thus, this chapter provides both motivation and guidance to management scholars for future applications of AI to advance management research.

This chapter focuses on common business challenges where intelligent choices and behaviors may lead to new and different outcomes. The business stories represent a wide range of economic sectors, types of organizations, and challenges. Each story highlights the role the framework plays in deriving and realizing an intelligent solution.