In a significant move to enhance economic security and foster development in Nigeria, the Peace Advocacy and Sustainable Development Outreach (PASDO), a dedicated nonprofit organization, has officially launched its AI-powered SafeguardON project.
This innovative project aims to reduce transaction fraud, thereby boosting ecommerce, creating jobs, and alleviating poverty.
Addressing a Critical Issue
Online scams by fake vendors and buyers are rampant in Nigeria.
Recent surveys conducted by PASDO reveal that 9 out of 10 individuals are aware of these fraudulent activities, and 7 out of 10 have either personally fallen victim or know someone close who has.
This widespread issue significantly hampers the growth of genuine businesses, as a lack of trust prevents potential transactions from occurring.
In fact, approximately 4 out of every 10 transactions by individual vendors do not go through due to buyers’ mistrust.
SafeguardON: A Game Changer
SafeguardON utilizes cutting-edge AI technology, powered by Meta’s Llama 2, to provide three core services:
- Educational Resource: SafeguardON educates users on common methods employed by fraudulent buyers and sellers to perpetuate their scams. This can help users stay alert and avoid falling victim.
- Safety Assessment: SafeguardON uses the information supplied by a user to run analyses and output a safety score, helping users make informed decisions on whether to proceed with a transaction.
- Enhancing Guarantee: SafeguardON provides recommendations that can help parties protect themselves, minimizing potential losses if a transaction turns out to be fraudulent.
Positive Social Impact
By significantly reducing fraud, SafeguardON is expected to restore trust in the ecommerce space.
This increase in trust can lead to a substantial boost in online sales for genuine vendors, enabling them to be meaningfully employed by themselves and even expand their businesses.
As vendors grow, they can hire more employees, thereby creating jobs and contributing to poverty alleviation.
These outcomes align closely with several United Nations Sustainable Development Goals (SDGs), including Decent Work and Economic Growth (Goal 8) and No Poverty (Goal 1).
Harnessing AI for Social Good
SafeguardON stands out for its innovative use of AI and its potential social impact.
By integrating advanced AI tools, the project offers sophisticated solutions to safeguard transactions, educate users, and promote economic growth.
Project Website
To learn more about SafeguardON and how it can help secure your transactions, visit www.safeguardon.com.