Creating a collaborative, scalable, transparent process for getting advanced analytics out of the lab and into the everyday business is the only way to truly operationalize and get maximum business value from analytic investments.
“I’m Scott Zoldi and I’ve authored 95 patents on AI, machine learning and various analytic techniques. I’m Chief Analytics Officer of FICO. Ask me Anything.*
As advanced analytics permeated nearly every industry in 2018, FICO’s thought leaders continued to push it into new areas. Here were the top 5 posts in the Analytics & Optimization category last year.
Adopting machine learning to enhance not just the accuracy of models but also drive efficiency is critical to amplify a key asset - the analytic team – and stay competitive.
My recent patent work has laid a foundation for what I predict will be the tech industry’s biggest development in 2019: ethical AI.
Regulatory efforts may prove valuable, but banks and law enforcement still need to use SARs more effectively, and that’s where cognitive analytics for AML can be a tremendous boon.
Behavioral profiling approaches are extremely important in tackling fraud that happens when banks share financial data with third parties through application programming interfaces.
Uncovering hidden patterns in money movement makes machine learning for AML a very attractive enhancement to existing AML operations.
The mathematical optimization community already has a clear set of standards for MIP benchmarking - these should be followed.
In my role at FICO I have the privilege of engaging in strategic planning discussions with senior banking executives across the globe. Most of these meetings as of late are similar: We are improving the customer on-boarding user experience, both through improved user interfaces, but also through improved analytics to bring everything we know about the customer to bear in our interaction…regardless of product line or channel. Right now we are working on our data lake. At which point, I nod. Then I ask: OK, so who is in charge of the customer journey that you are transforming? At a strategic level, banks understand the challenge they are facing and where their organizations need to go in order to thrive. At a tactical level, the decisions become much more complicated. Who owns the customer? Is that new data source worth the risk of potentially slowing down my origination process? How seriously... [Read More]