UPS company deploys AI to spot fakes amid surge in holiday returns [Yahoo! Finance]
Under Armour, Inc. Class C (UA)
Last under armour, inc. class c earnings: 2/11 06:55 am
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Source: Yahoo! Finance
in the U.S. is fraudulent, according to a UPS-owned reverse logistics company that says it plans to combat the $76.5 billion problem for the country's retailers with artificial intelligence This holiday season, UPS-owned boxless returns processing company Happy Returns ?is testing its AI fraud detection tool with a handful of clients, including apparel sellers Everlane, Revolve, and Under Armour, Happy Returns CEO David Sobie told Reuters during a recent tour of ?the company's Los Angeles-area hub. These retailers are among the many U.S. companies that have been hit by return fraud, a method of stealing in which a customer applies for a refund on a retail item and ships back something else of less value, like a ?cheap knock-off that cannot be resold. Happy Returns' AI tool called Return Vision helps to find fraudulent returns by flagging suspicious packages, analyzing their contents, and sending them for final audit by humans who can verify the fraud and withhold the refund, Sob
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