Tag Archives: Machine Learning

Risk & Compliance 70% of APAC Banks To Use AI in Collections by 2019

70% of APAC Banks Will Use AI in Collections by 2019
Apr122018

AI in Collections an Inevitability Artificial intelligence (AI) is becoming more integral in improving collections, according to banks in Asia Pacific (APAC). In a survey conducted at the FutureCollect event in March, seven out of ten senior collections managers revealed they plan to implement and integrate AI into their collections systems within the next two years, and 24 percent said they will do it next year. These new findings are consistent with FICO’s insights on AI earlier this year, predicting companies will focus on operationalizing AI in 2018. Almost half (48 percent) of banks believe that the use of AI will help them optimize their collection decisions, while 41 percent feel it will enable them to accurately predict consumer behavior. AI-powered analytics can improve automation in collections in many areas, from optimizing contact strategy settings to ensuring human agents make sophisticated decisions when restructuring debts or even calculating provision rates at an account level for IFRS 9... [Read More]

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Analytics & Optimization Want to Operationalize Analytics? Here’s Where to Start

Mar092018

Thoughts From Gartner’s Data and Analytics Summit This week I was at Gartner’s Data and Analytics Summit in Grapevine Texas, with my FICO team. This is an event we never miss, it’s attended by thousands of experts, analysts, data scientists and analytics leaders. This year’s Summit was dominated by presentations and conversations about data, analytics, explainable artificial intelligence (AI), and machine learning; nearly every discussion came to the same point — we want to use data and technology to gain competitive advantage and deliver real business value, but how? There was a wide variety of opinions, Gartner asserted that “to accomplish this feat, data and analytic leaders must master four key dimensions of scale: diversity, literacy, complexity, and trust.” In many of my conversations at the Summit, I shared my own view of what it takes to operationalize analytics. By this I mean, take all of the data and insights... [Read More]

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Analytics & Optimization Better Business Outcomes with Prescriptive Analytics and Machine Learning

analytics in cloud
Feb092018

Yesterday I had the pleasure of speaking at the Chief Data & Analytics Officer (CDAO) Winter event in Miami. If you’ve ever been to CDAO, you know it is quite a gathering of some of the smartest minds in analytics. Everyone I met had great stories to tell about the innovative work being done with analytics, artificial intelligence (AI) and machine learning (ML).  My keynote was focused on using AI, ML and prescriptive analytics to improve business impact and drive optimal outcomes. In partnering with FICO clients, I have found that combining ML with prescriptive analytics solutions delivers the best results when the strategic business outcomes are at the center and are the foundation that influences execution moving forward.  Defining a business outcome seems simple enough, but the more prescriptive you can be about what you want to achieve, the more positive impact the solution will have on the business.... [Read More]

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