Tag: Machine Learning
We recently taught a banking class in bank technology and there was this pervasive undertone that artificial intelligence was the domain of large banks. Nothing could be farther from the truth. The state of machine learning is such that almost any banker with the curiosity to understand can leverage machine learning for a variety of tasks from marketing, to credit, to risk management.
Last week our underwriting team turned down a bunch of loans. Too many delinquencies, not enough time in business, debt service was too low, loan-to-value (LTV) was too high, and cash flow was not of sufficient quality - all good reasons, all normal conclusions. As we have been chronicling in our blog (HERE for example), we have been experimenting with artificial intelligence.
It was back in 2014 when researchers at DeepMind directed their nascent artificial intelligence application to the game Breakout. Instead of programming DeepMind on how to play the game, the researchers programmed DeepMind to learn about learning to play the game. That is a meta level that isn’t normally programmed but the result of that effort, combined with many others, was in the back of our mind when we turned some artificial intelligent tools towards customer data.