Big Data, AI and Machine Learning getting some needed attention here, no less by the people at American Banker. Something’s afoot? Yes indeed, and we ain’t seen nothing yet. The upward march will be long and “volatile”, but has only one way to go. It’s one of the great ways we’ll be able to help a large part of the un- and underserved population at many different a level. Stay tuned for more, but enjoy the observations below.
“Flannery said machine learning engines are less discriminatory than people.”
“Humans tend to do things like redlining, which is completely ignoring an entire class,” he said. “Machine learning algorithms do [lending] in a multidimensional, ‘rational’ way.”