Artificial intelligence
Artificial intelligence
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The share of companies experimenting with artificial intelligence has increased, but full deployment is another matter, a Fannie Mae survey found.
October 4 -
Lenders could gain efficiencies from advances in artificial intelligence as the related development of alternative data potentially opens up the market to more borrowers, but hurdles exist.
September 29 - AB - Technology
Banks need to — and can — take steps to manage the phenomenon, first defined by a Japanese academic in the 1970s, where artificial intelligence looks, feels or sounds human and gives customers a creepy feeling, experts say.
September 25 -
Kareem Saleh, CEO of "fairness-as-a-service" company FairPlay AI, walks us through key steps that must be taken to ensure automated decisioning models stay on track.
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The Consumer Financial Protection Bureau issued guidance on the use of artificial intelligence in credit underwriting, saying that creditors are relying too heavily on a CFPB checklist and sample forms when they should provide specificity to explain why a consumer is denied credit.
September 19 -
The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.
September 13 -
A home insurer that the industry services provider owns has exposure to the Vesttoo platform, an AI-driven cap markets fintech facing claims of falsified collateral.
September 5 -
The ledger technology can make artificial intelligence systems more transparent, some industry stakeholders say.
August 25 -
The bank developed its cloud-based Ally.ai platform within months. Now it has rolled out its first use case: summarizing customer service calls so the agent doesn't have to multitask.
August 18 -
Several lenders have debuted artificial intelligence chatbots to help their customers through the homebuying process. What makes them stand out from the OpenAI phenom?
August 11 -
While policymakers have warned lenders they will be on the lookout for potential fair lending violations, the lack of current rules means many companies are trying to determine best practices on their own.
August 10 -
Companies that don't use the technology on average pay $1.76 million more and take 108 days longer to respond to incidents than firms that utilize it.
August 4 - AB - Technology
Cloud giants are making major investments in generative AI and large language models. Their financial services clients are mostly in test-and-learn mode.
July 30 -
Industry guidance remains slim, but originators said they're not exposing personally identifiable information in their use of the chatbot.
July 14 -
The interactive tool can answer consumer questions about the mortgage process, explain the difference between products and give an approximate quote.
July 13 -
Twenty lenders from across the country are participating in Underwriting for Racial Justice, a collaborative effort to develop new criteria that will enable marginalized borrowers to gain access to credit.
July 9 -
While the possibilities for artificial intelligence's applications are vast, mortgage shops today are focused on having it identify borrowers who are in the market to purchase a property, according to a report from Stratmor.
July 3 -
The technology that powers ChatGPT can sift through and even synthesize massive amounts of data, though it must overcome doubts over reliability, transparency and regulatory risk before it can be harnessed to conduct useful research.
June 29 -
The CEO of the world's largest asset manager said AI could have "some very large outcomes for long-term investing" and could also transform margins across sectors.
June 14 - AB - Technology
The bank is training a large language model to help employees and customers find answers to questions, starting in the mortgage department.
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