Startup Uses AI to Accurately Detect Phone Scammers
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A security startup named Pindrop has raised $90 million from investors including Vitruvian Partners, a European private equity firm, Singapore’s EDBI, and Goldman Sachs.
The seven-year-old firm, which is also backed by Alphabet, Citigroup, and vc stalwart Andreessen Horowitz, uses artificial intelligence technology which can analyze 1,380 features of a voice from a phone call which is used to determine information such as the caller’s location and the type of phone used.
Pindrop co-founder Vijay Balasubramaniyan said that they were able to achieve a 99.74 accuracy rate when detecting fraudulent phone calls, adding that it has already caught roughly $350 million worth of fraud attempts this year.
Source: CNBC