Credit


How artificial intelligence is impacting the highest levels of finance

#artificialintelligence

Artificial intelligence (A.I.) has a vice grip on everyone's attention right now. We have started entrenching it into our organizational structures with chief artificial intelligence officers, while simultaneously developing strategies to protect ourselves from the future threat posed by super-intelligent computers.


Did Artificial Intelligence Deny You Credit?

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People who apply for a loan from a bank or credit card company, and are turned down, are owed an explanation of why that happened. It's a good idea -- because it can help teach people how to repair their damaged credit -- and it's a federal law, the Equal Credit Opportunity Act. Getting an answer wasn't much of a problem in years past, when humans made those decisions. But today, as artificial intelligence systems increasingly assist or replace people making credit decisions, getting those explanations has become much more difficult.


Did Artificial Intelligence Deny You Credit?

#artificialintelligence

People who apply for a loan from a bank or credit card company, and are turned down, are owed an explanation of why that happened. It's a good idea -- because it can help teach people how to repair their damaged credit -- and it's a federal law, the Equal Credit Opportunity Act. Getting an answer wasn't much of a problem in years past, when humans made those decisions. But today, as artificial intelligence systems increasingly assist or replace people making credit decisions, getting those explanations has become much more difficult.


Did artificial intelligence deny you credit?

#artificialintelligence

People who apply for a loan from a bank or credit card company, and are turned down, are owed an explanation of why that happened. It's a good idea – because it can help teach people how to repair their damaged credit – and it's a federal law, the Equal Credit Opportunity Act. Getting an answer wasn't much of a problem in years past, when humans made those decisions. But today, as artificial intelligence systems increasingly assist or replace people making credit decisions, getting those explanations has become much more difficult.


ŷhat Artificial Intelligence in Lending

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About Austin: Austin is the CEO and co-founder of Yhat, Inc. He was previously at OnDeck Capital, the largest online small business lender in the United States.


Machine Learning in Finance with Classification approach - Online Technical Discussion Groups--Wolfram Community

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We discuss classification as the data-mining technique in patterns recognition and supervised machine-learning. Comparison of classification to other data exploration methods is presented and the importance of this approach is further discussed. We demonstrate the machine-learning method in finance and show how credit risk categorisation can be easily achieved with classification technique.


ClearScore Launches World's First Chatbot to Build Credit Confidence

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ClearScore, the UK's no. 1 credit checking service, is aiming to help millions of people improve their credit score with the launch of'Coaching' available for free to all today. Coaching is the first bot-based programme in the world to help Brits improve their credit worthiness and ability to get the best financial deals available.


Artificial intelligence comes to the world of money: will it work?

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See also: Virtual reality'to replace high street shopping by 2050' See also: Industries poised to be taken over by robots See also: New robot will park your car for you Patrick Connolly, a certified Financial Planner for Chase De Vere, says: "We are seeing artificial intelligence progressing incredibly rapidly across different financial services, and over the next five to ten years we can expect to see dramatic changes. Using a'smart algorithm', it gets to understand your spending patterns, identify income and bills, and create a unique profile for you. The artificial intelligence programme - called Coaching - is said to be the first chatbot designed to improve your credit score. Likewise, having regular nudges to take small steps to improve your credit score may be an effective way to keep people on track and make the process more manageable.


Can machines be more fair than humans at determining credit risk?

@machinelearnbot

Credit ratings have long been the key measure of how likely a U.S. consumer is to repay any loan, from mortgages to credit cards. But the factors that FICO and other companies that create credit scores rely on--things like credit history and credit card balances--often depend on having credit already.


Is AI making credit scores better, or more confusing?

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A consumer's credit score used to be a commonly understood number -- the time-honored FICO score -- that banks all used in their underwriting. But banks increasingly are relying on dozens of scores that reflect a variety of data sources, analytics and use of artificial intelligence technology.