Could AI Soon Decide Who Gets A Bank Loan?
While it's difficult to predict what path the Artificial Intelligence industry will take one thing is for sure - the world's biggest tech giants are investing heavily in this. AI is also taking the banking industry by storm with fin-tech. One of Canada's largest banks, CIBC, just announced a deal to team with AI-enabled lender Borrowell to allow consumers to apply for small loans. Globalive Capital Chairman Anthony Lacavera tracked all of the latest trends at one of the top AI conferences in Toronto titled CDL Machine Learning. He says banks could soon use machine algorithms to measure, for example, which clients could default and when. (Source: Bloomberg)