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Study: 8 in 10 fraud fighters expect to deploy generative AI by 2025

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Global survey of anti-fraud pros by the ACFE and SAS reveals incredible GenAI enthusiasm – but past benchmarking studies suggest a more challenging reality

CARY, N.C., Feb. 13, 2024 /PRNewswire/ — Generative AI has captured the public imagination, its power and promise seemingly poised to affect every facet of society. It’s hardly any wonder then that 83% of anti-fraud professionals anticipate adding the technology to their anti-fraud armaments within the next two years, according to the latest anti-fraud tech study by the Association of Certified Fraud Examiners (ACFE) and SAS.

How might #GenAI & other tech reshape #fraud fighting? Explore the global, cross-industry study by @TheACFE and SAS.

The 2024 Anti-Fraud Technology Benchmarking Report is the third installment of a global research study initiated by the ACFE and SAS in 2019. This latest edition reflects insights from nearly 1,200 ACFE members surveyed in late 2023. The survey data reveals key trends in the evolution of fraud fighting since 2019. Among them:

Interest in artificial intelligence (AI) and machine learning (ML) technology is higher than ever. Nearly 1 in 5 anti-fraud pros (18%) currently counts AI/ML among their fraud-fighting tools. Another 32% anticipate implementing these technologies in the next two years – a peak since the study’s inception. At this rate, use of AI/ML in anti-fraud programs will almost triple by the end of next year.However, AI and ML adoption consistently lags expectations. Despite fervent interest, adoption of AI and ML for fraud detection and prevention has grown only 5% since 2019. That figure falls far short of the anticipated adoption rates revealed in the 2019 and 2022 studies (25% and 26%, respectively).While the use of many data analysis techniques has plateaued, the application of biometrics and robotics in anti-fraud programs has risen steadily. Use of physical biometrics has climbed 14% since 2019, now cited by 40% of respondents. One in 5 survey respondents (20%) reported using robotics, including robotic process automation, up from 9% in 2019. The use of these technologies is notably highest in banking and financial services, with half (51%) using physical biometrics and one-third (33%) using robotics.

“The accessibility of generative AI-powered tools makes them incredibly dangerous in the wrong hands,” said ACFE President John Gill. “Three in five organizations foresee increasing their anti-fraud technology budgets over the next two years. How they invest these funds will determine who will seize the upper hand in what’s become a technology arms race with criminal enterprises. It’s an uphill battle when you consider that, unlike the fraudsters, organizations face the added challenge of having to use these technologies ethically.”

“Explosive interest in advanced analytics techniques juxtaposed with much more modest adoption rates proves the complexities of scaling the AI and analytics life cycle,” said Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS. “It also underscores the importance of choosing the right technology partner. AI and machine learning aren’t simple, plug-and-play applications. However, their benefits can be more readily realized by deploying modularized solutions across the risk management spectrum on a single, AI-powered platform. That’s SAS’ approach with cloud-native, language-agnostic SAS Viya.”

Explore trends by industry, geography and more
Complementing the benchmarking report, SAS’ online data dashboard allows users to analyze survey data by industry, geographic region and company size.

Survey respondents work in 23 industries – most prevalently banking/financial services and government/public administration (each accounting for 22% of respondents), but also professional services (13%), insurance (5%), health care (4%), manufacturing (4%), technology (4%), education (4%) and more. Their employer organizations span the globe and range in size from fewer than 100 employees to more than 10,000.

Read the report and visit the data dashboard at SAS.com/fraudsurvey to examine cross-industry, anti-fraud tech trends and sentiments around:

Data analysis techniques organizations use to fight fraud.Risk areas where organizations apply data analytics to monitor for fraud.Data sources organizations use in their anti-fraud initiatives and their perspectives on data-sharing consortiums.The prevalence of case management and digital forensics/e-discovery software.Challenges organizations face in implementing new anti-fraud technology.How generative AI is affecting organizations’ anti-fraud programs.

The future of GenAI: Boom or bust?
Will the deployment of generative AI in anti-fraud programs skyrocket in line with survey respondents’ passionate intent? Or will real-world challenges like budgetary restrictions, data quality and skills gaps inhibit its predicted ascent? Only time will tell – but organizations can’t be too careful in embracing GenAI and other AI technologies. Responsible innovation requires organizations to ask not only “could we” but also “should we?”

“The use of generative AI in anti-fraud initiatives could play a significant part in identifying anomalies, trends and indications in larger volumes of data with minimal resource concerns,” said one survey respondent. “However, the organization will need to ensure that proper guidelines are in place to minimize errors and bias.”

“Generative AI has made great strides these last few years, so it’s no surprise that organizations are incorporating it into their anti-fraud initiatives,” said ACFE Research Director Mason Wilder. “As a society, we are still learning all the advantages and disadvantages to using the technology, but more organizations are beginning to take that first step. It will be interesting to see how quickly adoption occurs, in and out of the workplace, in addition to the technology continuing to become more advanced with time.”

About the Association of Certified Fraud Examiners
Based in Austin, TX, the ACFE is the world’s largest anti-fraud organization and premier provider of anti-fraud training and education. Together with more than 90,000 members, the ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession. For more information, visit ACFE.com

About SAS
SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2024 SAS Institute Inc. All rights reserved.

SAS Editorial Contact:     

ACFE Editorial Contact:

Danielle Bates                   

Stefanie Hallgren

danielle.bates@sas.com   

shallgren@acfe.com 

+1 919-531-1959               

+1 512-276-8167 

sas.com/news                     

acfe.com

 

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SOURCE SAS

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OrthAlign Welcomes Brett Brodnax to Board of Directors, Marking a Strategic Step Forward in ASC Innovation and Growth

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IRVINE, Calif., May 7, 2025 /PRNewswire/ — OrthAlign, Inc., a global provider of simple, efficient, and clinically impactful technologies for total joint replacement, announces the appointment of Brett Brodnax, Executive Chairman of United Surgical Partners International (USPI), to its Board of Directors. Brett brings a proven track record of leadership and innovation in ambulatory surgery centers (ASCs), most notably as a key architect in building the country’s largest ASC network at USPI.

“I believe OrthAlign is uniquely positioned to lead in the evolving ASC environment.”

“I’ve spent my career focused on delivering scalable, high-value care through the surgical facility model, and I believe OrthAlign is uniquely positioned to lead in the evolving ASC environment,” said Brett Brodnax. “Technologies like Lantern® represent the efficient, cost-conscious innovation we need—not just for surgical precision, but for aligning incentives across the industry as well.”

OrthAlign’s technology portfolio is designed with the ASC in mind: providing accurate, intuitive tools without the burden of capital equipment or complex workflows. Lantern, the company’s flagship handheld navigation system, is rapidly gaining adoption among high-volume orthopedic surgeons and ASC leaders seeking efficiency, consistency, and value.

“Brett’s experience building and scaling the ASC infrastructure in the U.S. gives him unmatched insight into what’s needed in today’s healthcare market,” said Eric Timko, Executive Chairman of OrthAlign. “We’re honored to have him on our Board as we continue to expand our presence in outpatient total joint care.”

With Brett Brodnax’s strategic guidance, OrthAlign is accelerating its mission to make smarter, accessible surgical technology the new standard in joint replacement.

About OrthAlign, Inc.

OrthAlign is the leader in handheld orthopedic technology, delivering accurate, simple, and cost-effective solutions for joint replacement surgery. With over 400,000 procedures performed worldwide, OrthAlign is redefining surgical navigation by providing intuitive, handheld tools that are efficient, improve precision, and eliminate the need for capital equipment. Designed for both hospitals and ambulatory surgery centers (ASCs), OrthAlign’s technology empowers surgeons to deliver consistent, high-value care—anywhere joint replacements are performed.

Driven by the belief that everyone deserves exceptional healthcare, OrthAlign is committed to making empowering technologies accessible to all.

LANTERN® and ORTHALIGN® are registered trademarks of OrthAlign, Inc.

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SOURCE OrthAlign

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EY US Unveils Dr. Lefteris Ntouanoglou of Schoox as an Entrepreneur Of The Year® 2025 Gulf South Award Finalist

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Entrepreneur Of The Year celebrates ambitious entrepreneurs who are shaping the future

AUSTIN, Texas, May 7, 2025 /PRNewswire/ — Ernst & Young LLP (EY US) announced the finalists for the prestigious Entrepreneur Of The Year 2025 Gulf South Award. Finalists were celebrated last night at The Cathedral in Austin during a special networking reception.

Now in its 40th year, the Entrepreneur Of The Year program celebrates the bold leaders who disrupt markets through the world’s most ground-breaking companies, revolutionizing industries and making a profound impact on communities. The program honors bold entrepreneurs whose innovations shape the future and pave the way for a thriving economy and a hopeful tomorrow.

The Gulf South program celebrates entrepreneurs from Central and South Texas, Louisiana, and Mississippi.
An independent panel of judges selected Lefteris for his entrepreneurial spirit, purpose, growth, and lasting impact in building long-term value.

“Being named a finalist for the Entrepreneur Of The Year® 2025 Gulf South Award two years in a row, is an incredible honor,” said Dr. Lefteris Ntouanoglou, Founder and CEO of Schoox. “At Schoox, we’ve always believed that learning should be people-first, purposeful and deeply integrated into the flow of work. This recognition reflects the passion of our entire team and commitment to helping organizations unlock the full potential of their people through learning that drives real business impact.”

Founded in Austin, Texas, Schoox is a learning and skills development platform built for the frontline workforce. With a mission to transform workplace learning into a powerful driver of business performance, Schoox enables organizations to deliver personalized, scalable learning experiences that engage employees and accelerate growth. Serving companies around the world, Schoox empowers millions of employees to learn, grow, and thrive—one lesson at a time.

Entrepreneur Of The Year honors business leaders for their ingenuity, courage, and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company, transformational CEOs who infused innovation into an existing organization to catapult its trajectory, and multigenerational family business leaders who reimagined a legacy business model to strengthen it for the future.

Regional award winners will be announced on June 12th during a special celebration in Houston and will become lifetime members of an esteemed community of Entrepreneur Of The Year alumni from around the world. The winners will then be considered by the National judges for the Entrepreneur Of The Year National Awards, which will be presented in November at the annual Strategic Growth Forum®, one of the nation’s most prestigious gatherings of high-growth, market-leading companies.

Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, Cresa, LLC, Marsh McLennan Agency, and SAP. In the Gulf South, sponsors also include Platinum sponsors ADP, DFIN, DLA Piper, vcfo, and Silver sponsors Big Picture and Pierpont Communications.

About Entrepreneur Of The Year
Founded in 1986, Entrepreneur Of The Year has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 60 countries globally.

The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum® in November where National finalists and award winners are announced. The overall National winner represents the US at the EY World Entrepreneur Of The Year™ competition. Visit ey.com/us/eoy.

About EY
EY is building a better working world by creating new value for clients, people, society, and the planet, while building trust in capital markets.

Enabled by data, AI, and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy, and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network, and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

About Schoox
Schoox guides L&D Leaders to transform their frontline workforce into a strategic business advantage. We believe people aren’t cogs in a machine, but the driving force behind business success. That’s why we designed a unique learning platform that caters to the way humans actually learn. Schoox delivers AI-powered, mobile-optimized, and skills-aligned learning experiences that engage and motivate every employee, from the frontline to corporate. By making learning easy, accessible, rewarding, and fun, we help organizations build a highly skilled workforce that drives business growth and achieves its full potential. Schoox’s frontline LMS supports people-focused learning in organizations worldwide, including Subway, KIOTI Tractor, Sport Clips Haircuts, and Sonesta Hotels. Learn more at schoox.com.

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SOURCE Schoox LLC

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Tobin Scientific Closes $65M Investment to Accelerate Growth Across Life Sciences Infrastructure

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BEVERLY, Mass., May 7, 2025 /PRNewswire/ — Tobin Scientific, a leading provider of cGMP storage, biorepository services, and specialized logistics for the life sciences industry, announced today that it has closed a significant capital raise to support its next phase of growth. Denali Growth Partners and Truck 9 Partners led the minority growth equity investment, and Eastern Bank provided a comprehensive financing package to support Tobin Scientific’s growth plans. The funding will be used to expand Tobin Scientific’s cGMP-compliant storage and logistics capacity, broaden its geographic footprint in key pharmaceutical hubs, and support targeted M&A initiatives across the broader life sciences supply chain. There has been no change of control, and the executive management team remains in place.

Tobin Scientific announced today that it has closed a capital raise to fund next phase of growth.

Tobin Scientific is widely recognized for its white-glove approach to biopharma logistics, including cold chain transport, compliant storage solutions, and end-to-end project execution for laboratories, manufacturing sites, and biorepositories across the U.S. With more than 365,000 square feet of cold chain and ambient warehouse space and a robust portfolio of specialized transportation and storage services, Tobin Scientific will continue to invest in advanced technologies and infrastructure to support its customers’ evolving needs.

“This capital raise marks a major milestone for our team and organization,” said Brian Tobin, CEO of Tobin Scientific. “We’re building critical infrastructure to support our clients at every stage of the R&D and manufacturing lifecycle from discovery through commercialization. Our partners share that vision, and this investment enables us to continue scaling with confidence and purpose. This investment is a testament to the dedication and expertise of our growing team and their commitment to the highest standards of service.”

“We are pleased to provide this credit facility to support Tobin Scientific’s strategic growth initiatives,” said Gregory Buscone, Executive Vice President, Chief Commercial Banking Officer at Eastern Bank. “Tobin Scientific’s commitment to expanding critical infrastructure and specialized pharma services plays a vital role. We are proud to help enable their vision of meeting the evolving needs of their customers in the Boston area and nationwide.”

“We are proud to invest in Tobin Scientific’s continued growth. The company’s strong track record and strategic vision highlight its commitment to becoming the leading vertically integrated services provider to the pharmaceutical industry, with innovative, forward-thinking solutions,” said Jesse Lane, the Founder and Managing Partner of Denali Growth Partners. “Tobin Scientific’s ability to drive sustained revenue growth is a direct result of its unwavering focus on meeting customer needs with consistency, reliability, and white-glove service,” added Alec Douglas of Denali Growth Partners.

Tom Babich, Managing Director of Stifel Financial Corp., served as the exclusive financial advisor to Tobin Scientific. Terms of the transaction were not disclosed.

About Tobin Scientific
Tobin is a trusted leader in biopharma cold chain, ambient storage, and transport & logistics services. With a national footprint and decades of experience, Tobin Scientific offers a wide range of services, including laboratory relocation, cold chain transport, and cGMP warehousing. The company is dedicated to ensuring the safe and reliable transport and storage of temperature-sensitive products. Visit TobinScientific.com for more information.

About Denali Growth Partners
Denali Growth Partners (“DGP”) is a Boston-based growth equity firm with more than $750 million in Regulated Assets Under Management (“RAUM”) as of May 1, 2025. DGP seeks to partner with rapidly growing and capital-efficient businesses. DGP helps management teams and companies accelerate growth through capital and strategic resource deployment. Additional information about DGP is available at denaligrowth.com.

About Eastern Bank
Founded in 1818, Eastern Bank is Greater Boston’s leading local bank with approximately 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. As of March 31, 2025, Eastern Bank had approximately $25.0 billion in assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management division, the largest bank-owned independent investment advisor in Massachusetts with $8.4 billion in assets under management, and takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com. Eastern Bankshares, Inc. is the holding company for Eastern Bank. For investor information, visit investor.easternbank.com

About Stifel Financial Corp. 
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at stifel.com. For global disclosures, please visit stifel.com/investor-relations.

About Truck 9 Partners
Truck 9 Partners, based in Boston, MA, is a family investment firm that partners with and grows private companies providing physical and/or technical services and products. For more information, please visit truck9partners.com.

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SOURCE Tobin Scientific

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