The recent semi-annual threat report released by Visa highlights the significant role of artificial intelligence in preventing payment fraud. The report notes that e-commerce, retail, and mass merchants are increasingly relying on AI-based fraud prevention systems to protect themselves from the threats posed by attackers. Ransomware attacks have surged, with a recent increase of 91%, and fraud investigations are primarily focused on online merchants. Visa has successfully reduced payment fraud through substantial investments in artificial intelligence, with its 24/7 risk operations center blocking nearly 53 million fraudulent transactions worth $32 billion.