Greetings from sunny (and humid) Miami! I had the pleasure of speaking on a panel at ABS East yesterday, entitled “Traditional vs Non-Traditional Underwriting, Does Machine Learning Teach Us Anything New?” The panel primarily focused on the opportunities and challenges associated with the use of Machine Learning (ML) in credit underwriting. I called out some highlights from FICO’s recent white paper on this subject. (We will dive into this further in future blogs so keep an eye out.) On the ‘opportunity’ side, I cited: The speed to powerful insights that ML offers, making it ideal for R&D efforts aimed at assessing new analytic challenges, and/or the potential of new data sources to add incremental lift. The great strides we’ve made at FICO as far as developing explainable artificial intelligence (AI)/ML and how that enables us to understand better than ever before what the key variables and risk patterns are that... [Read More]
Because corporate credit cards have different business-oriented spending patterns than consumer credit cards, we tackled the corporate card fraud detection problem with FICO’s collaborative profiling technology.
At FICO World 2018, I sat down with Chess Grandmaster Garry Kasparov to discuss the hot topics in the world of AI, and asked: Should we be afraid of artificial intelligence?
At FICO World 2018, I sat down with Chess Grandmaster Garry Kasparov to discuss the hot topics in the world of AI, and asked: Why is explainable AI so important?
When today’s businesses create a list of must-haves in the race to alter and ultimately transform how they operate, machine learning is one of those checkbox necessities. And indeed, when you run the gamut of business-consumer touchpoints, machine learning is, indeed, one of the mainstays. What’s machine learning, and why is it needed? Machine learning is powered by algorithms that learn from data, identifying critical patterns, connections and insights – without being programmed to reach specific conclusions. Machine learning enables more data of multiple types to be analyzed quickly, in order to derive maximum benefit from it. It takes advantage of exponential boosts in data storage capabilities and computing power (at a fraction of the cost than what was previously possible) to help make faster, smarter decisions while constantly learning, evolving and providing unexpected new insights. Where machine learning models are superior to traditional approaches One of the core benefits... [Read More]
I sat down with Chess Grandmaster Garry Kasparov to discuss the hot topics in the world of AI, and asked: Should we expect AI to make perfect decisions?
