CEO of credit score giant FICO dishes on how company uses AI

FICO, the analytics firm known for credit scores, uses artificial intelligence (AI) responsibly and transparently in its software services, but does not deploy AI in consumer-facing credit decisions due to regulatory requirements and the need for explainability.

foxbusiness.com

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8/23/2023

What will it take for AI to transform accounting? Human intelligence

Artificial intelligence (AI) is revolutionizing the accounting industry by automating tasks, providing insights, and freeing up professionals for more meaningful work, but there is a need to strike a balance between human and machine-driven intelligence to maximize its value and ensure the future of finance.

8/24/2023

AI on Wall Street: Trading Genius or Just Aspiring Newbie? - TipRanks.com

Artificial intelligence (AI) has made significant strides in the financial markets, but its capabilities are not yet advanced enough to completely replace human involvement in investment and trading decisions. AI can analyze data and spot patterns, but it lacks the ability to anticipate unforeseen events and understand human emotions, making it necessary for humans to provide context and make decisions based on a broader picture.

8/25/2023

AI not just a buzzword, startups must use it to build businesses: Lenskart CEO Peyush Bansal

Artificial intelligence should be used to build businesses rather than being just a buzzword in investor pitches, according to Peyush Bansal, CEO of Lenskart, who cited how the company used AI to predict revenue and make informed decisions about store locations.

9/2/2023

Board Practices: Artificial intelligence

Companies are increasingly exploring the use of artificial intelligence (AI) in various areas such as sales/marketing, product development, and legal, but boards and board committees often lack explicit responsibility for AI oversight, according to a survey of members of the Society for Corporate Governance.

9/5/2023

How Artificial Intelligence Can Transform Financial System

Artificial intelligence has the potential to transform the financial system by improving access to financial services and reducing risk, according to Google CEO Thomas Kurian. He suggests leveraging technology to reach customers with personalized offers, create hyper-personalized customer interfaces, and develop anti-money laundering platforms.

9/12/2023

SEC Confirms Use of AI Technology for Financial Market Surveillance

The US Securities and Exchange Commission (SEC) is utilizing artificial intelligence (AI) technologies to monitor the financial sector for fraud and manipulation, according to SEC Chair Gary Gensler.

9/13/2023

How AI is Transforming Fraud Detection and Cybersecurity in Banking

Financial institutions are using AI to combat cyberattacks, utilizing tools like language data models, deep learning AI, generative AI, and improved communication systems to detect fraud, validate data, defend against incursions, and enhance customer protection.

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Posted 8/24/2023, 4:40:29 PM