A fraud detection firm used AI to help TickPick crack down on ticket scams — and reclaim $3 million in approved orders

In a bold move to combat ticket scams, online marketplace TickPick has partnered with Riskified, a New York-based fraud detection firm, to leverage artificial intelligence in its transaction processes. This innovative partnership has led to the recovery of an impressive $3 million in previously declined orders, showcasing the potential of AI in the fight against fraud. Traditionally, fraud detection systems relied on binary algorithms, rendering decisions on whether transactions were legitimate or not. However, Jeff Otto, Riskified's Chief Marketing Officer, pointed out the limitations of this outdated approach. Often, these systems fail to adapt to the ever-evolving tactics of fraudsters, resulting in too many legitimate transactions being mistakenly flagged as fraudulent. This not only frustrates customers but also leads to significant financial losses for businesses. To address these challenges, Riskified introduced Adaptive Checkout, an AI-driven solution that evaluates transactions in real time. Although the tool officially launched in March 2025, TickPick began utilizing it during its testing phase in November 2024. Given the nature of their business, which includes high-value ticket sales for events like the Super Bowl, the stakes for accurate transaction approval are particularly high. Adaptive Checkout represents a significant upgrade to existing fraud prevention technology, equipped with advanced features aimed at reducing false declines and enhancing overall revenue for merchants. The tool's design was a collaborative effort, with Riskified's data scientists working closely with clients to tailor solutions to their specific needs. By analyzing a variety of data points, including customer shopping history and location, Adaptive Checkout generates a unique risk profile for each order. This enables the AI to adjust the checkout process according to the perceived risk level, determining whether to approve or deny transactions based on their legitimacy. In cases where the AI encounters uncertainty, it prompts customers for additional information, such as their card verification code or a one-time password, thereby ensuring that only verified transactions proceed. The results have been promising. In the first three months of using Adaptive Checkout, TickPick reported an additional $3 million in revenue from orders that would have been denied under the previous system. Currently, around 50 of Riskified's clients are utilizing this cutting-edge tool, and the company is actively collecting feedback to enhance and expand its AI capabilities in the near future.