Wells Fargo: Artificial intelligence and machine learning a ‘double-edged sword’

http://linkedin.com/in/mike-telang-705b263

• “‘I think almost all large banks are being asked now by regulators to go back and identify any ML/AI solution that’s brought into the bank because the implication of that is, if the wrong algorithm is being used, you are going to decline credit or you’re going to have impact to the customers.’
• ‘A lot of the companies have survived either by acquiring them or by re-emerging differently. I think banks have to do that. I think it’s a matter of time,’ Telang said.”

https://www.google.com/amp/s/www.zdnet.com/google-amp/article/wells-fargo-artificial-intelligence-and-machine-learning-a-double-edged-sword/