Machine learning algorithms have been around for dozens of years, but the real potential of the learning models was revealed only after the big data revolution and the sharp decrease in computing capacity cost. The financial sector, in particular banking, is among the leaders in terms of using machine learning methods underlying automated decision-making. For example, based on online testing, the ADM system determines the probability of a potential borrower’s default. Similar systems are used in health care and jurisprudence and certainly they occasionally make mistakes. Nevertheless, this is a great step forward in data analysis.
VoxUkraine: Hidden figures – what determines a bank’s health
The National Bank of Ukraine (NBU) in Kyiv on Sept. 7, 2016.
