A New Low Risk Approach to AI for Consumer Lending

  • “SymphonyAI has taken a new approach with their EurekaAI suite of solutions. Instead of AI for data scientists, EurekaAI solutions put analytics driven insights directly into the hands of business analysts and decision makers.
  • EurekaAI allows both data scientists and “power users” in the business, or “citizen data scientists,” to explore complex datasets and build powerful predictive models without the coding in R or Python that is typically necessary.
  • EurekaAI for Consumer Lending learns from your own data to determine which borrower characteristics best predict delinquency risk, to predict borrower price elasticity, and to optimize collections.”

A New Low Risk Approach to AI for Consumer Lending

Build, Buy, Rent: AI Approaches to Lending

  • “AI adoption accelerated due to the COVID-19 pandemic, according to a new KPMG report on business adoption of AI. In financial services, 84 percent of leaders said AI is at least moderately functional in their organization, a 37-percentage point increase from the previous year. It’s official – AI is a must have.
  • With the business case justified, leaders are focused on answering the implementation strategy question – “Should we build, buy, or rent?” It’s an age-old dilemma but for ML underwriting, the decision is particularly nuanced. Many factors are overlooked which is why those who decided to build their own end up with an ML model they can’t deploy. In fact, AI project failure rates are at 47%, according to a Gartner report.”

https://linkmktg.cutimes.com/view/6070577a31ab82185be7babcedhyl.pmj/72577db1