Goto

Collaborating Authors

mortgage


How not to build a biased algorithm

#artificialintelligence

And if so, what can we do about it? Facebook has just revealed an internal review to look at these two key questions. It's interesting that Facebook's intentions in this area have come to light now. There's a lot of attention being given to algorithmic bias right now - especially when it comes to race and gender. Are there systematic problems in the algorithms that shape what we see online and make so many crucial decisions in our lives - problems that perpetuate stereotypes, create unfair outcomes, and arbitrarily privilege one group of users over others?


Feature Leakage, and identifying it with Exploratory data analysis and Machine Learning

#artificialintelligence

On one of my projects, my team and I were tasked with building a mortgage leads generation model for a client -- a quite standard project in the banking industry. The data shared with us, on the other hand, were not safe or fit for modelling straightaway: the data had been compiled from different sources, "possibly from different time periods" too. This might seem like an exceptional situation. In reality, however, it is all too common to acquire data from the client and take for granted their fitness for modelling. In our situation, the comment from our client meant that we were potentially looking at feature leakage.


Data Science, Quarantined

#artificialintelligence

The economic impact of COVID-19 is unprecedented, dramatically changing markets and prospects for economic growth. Supply chains, transportation, food processing, retail, e-commerce, and many other industries have transformed overnight. Unemployment in the U.S. has reached levels unknown in recent memory, and GDP is expected to fall around the world. As one economic journalist summed up the situation: "Nearly everything in the world is super-weird and disrupted right now." The data we use to make good managerial decisions has been caught up and turned upside down in this unpredictable marketplace.


The surprising future of fintech

#artificialintelligence

Thanks to open banking, fintech early adopters likely already have accounts that round up transactions to boost savings or connect to third-party tools for loan applications, budget management and more. But the new wave of fintech startups are proving there's much more that can be done using open banking, the two-year-old mandate from UK regulators that required banks to easily allow their customers to share their data with third parties such as apps. "Open banking offers people the chance to get personalised, tailored support to help them manage their money by allowing regulated companies to securely analyse their bank data," says Lubaina Manji, senior programme manager at Nesta Challenges, one of the organisations behind the Open Up 2020 Challenge, alongside the Open Banking Implementation Entity (OBIE). "It's enabled the creation of new services and tools to help people with every aspect of money management – from budgeting to investing, and much, much more, all in a safe and secure way." And some of the innovations from finalists in the Open Up 2020 Challenge have surprised with their ingenuity and customer focus, she says, citing Sustainably's round-up tool for automated charity donations, and Kalgera's neuroscience-informed AI to help spot fraud targeting people with dementia – two projects that highlight the purpose-driven idea behind open banking and the aim to get financial support to show who need it the most.


Ticker: Bejeweled, Centipede among hall of famers; Mortgages at all-time low; 1.5M new unemployment applications

Boston Herald

The World Video Game Hall of Fame inducted Bejeweled, Centipede, King's Quest and Minecraft in a virtual ceremony Thursday that recognized their influence on the industry and the gamers who have spent tens of billions of hours playing them. The hall of fame's Class of 2020 was chosen from a field of 12 finalists that also included Frogger, Goldeneye 007, Guitar Hero, NBA Jam, Nokia Snake, Super Smash Bros. Melee, Uncharted 2, and Where in the World is Carmen Sandiego? Long-term U.S. mortgage rates fell this week as the benchmark 30-year home loan reached a new all-time low. Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year loan declined to 3.13% from 3.21% last week. It was the lowest level since Freddie began tracking average rates in 1971.


Seven Ways to Avoid Bias in Your Data

#artificialintelligence

AI is taking off in all areas of business and in our daily lives – from improving agriculture and predicting where forest fires might erupt to determining who is likely to return to a hospital after discharge. With advanced GPUs that can crunch more data faster and growing demand from companies looking to increase competitive advantage, machine learning and other forms of AI are expected to become more pervasive. Today, many companies are relying on smart apps to provide the insight needed to make decisions that can affect people's lives, such as who qualifies for a mortgage or who will be insured. Because of this responsibility, it's more important than ever that data professionals don't inadvertently automate any biases into the AI algorithm because of the data they use or don't use, and how they use it. While AI should be regulated to ensure the fair and ethical use of data, particularly as it impacts decision-making and people's lives, unfortunately, we still have a long way to go before this happens.


Animal Crossing: New Horizons – the video game where we can still be together

The Guardian

I am scrolling idly through TikTok when I see her, drag queen Bijou Bentley performing her routine to a remix of Nicki Minaj's Anaconda. With her ponytail and green twin-set, I immediately recognise that she is not just giving the audience haute couture – this is cosplay. If you have played it, she was your assistant, too. She is the heart of the game, your adviser, your companion. She is a yellow dog in snappy office dress, and she is always so happy to see you.


Chatbots in the Workplace Helping with Experience and Productivity

#artificialintelligence

Everyone could use more time in their day, but getting more than 24 hours out of it just isn't going to happen. Reducing the amount of work you have to do on your own…and it turns out technology can help with this. More specifically, if you're looking for a way to get more done in less time when it comes to recruiting new employees or improving the productivity of existing employees, chatbots have you covered. If you haven't tried out chatbots in the workplace yet, here are some ways they're already helping companies get more done in their day on a regular basis. If you're not used to the idea of AI and chatbots in the workplace, read this to learn more: Interview with a Chatbot: The Future of AI and HR The recruiting process can be lengthy and expensive for the HR department, and tiring for candidates.


AI bias: Avoiding the bad, the biased and the unethical - Verdict

#artificialintelligence

Artificial intelligence (AI) has quickly emerged as the defining technology of our society. Gartner forecasts that by 2020, AI will be a top-five investment priority for more than 30% of CIOs. UK tech companies have secured £1 billion deal investment from the UK government which will support their research and development. Though the discussion of adopting AI is still very compelling for businesses and consumers alike, there are still legitimate concerns, as raised by The Guardian's Inequality Project: "When the data we feed the machines reflects the history of our own unequal society, we are in effect asking the program to learn our own biases." It has, therefore, become paramount that CIOs know some uses of AI that could cause problems – the bad, the biased and the unethical – and what they can do to make sure their business remains on the right side.


A Mortgage Lender Uses AI to Expand Home Ownership Intel Newsroom

#artificialintelligence

When people talk about artificial intelligence and mortgages -- and they do, a sign of AI tackling more real-world problems -- they mostly refer to making the process less of a paper-heavy slog. Born of a unique tech startup builder called Entrepreneur First -- a "talent investor" that pairs up smart strangers and helps them develop whatever company idea they come up with -- Proportunity uses AI based on Intel technologies to find London properties that are poised to appreciate in value. The company then offers a sort of "bridge loan" for first-time buyers who can afford the monthly payments but don't have enough for the down payment that traditional lenders require. "We started with first-time buyers because this is a huge problem here in London," says Stefan Boronea, Proportunity co-founder and CTO. The company estimates that down payment requirements keep some 200,000 more would-be first-time buyers from joining the U.K. market today, compared with 2001.