Artificial intelligence and bank credit analysis: A review

Algorithms help guide decisions in many areas, such as medical diagnostics, predictive justice, facial recognition, fraud detection, job search, and access to higher education (ACPR, 2018). The world of finance, too,hasn't been left untouchedby the data science revolution sparked by artificial intelligence (AI). AI has come under public scrutiny, as part of a new mythology of the digital evoking simultaneously hope and fear.For instance, AI is credited with the prospect of a revival of consumption, of cross-sector growth in productivity, and of improved risk management, to name a few. At the same time, it is connected to fears of technological job substitution, to the prospect ofskills retraining, to a widening digital divide and, more broadly, to a drift towards transhumanism, i.e. the transformation of humanity through technologically enhanced capacities (Bostrom, 2017). Historical hindsight shows that AI is not the first technological "disruption"to have affectedthe banking industry: here it suffices to consider the rise ofautomatic teller machines and online banking.In 1990's, Bill Gates said "banking is necessary, banks are not".1