Understanding AI Uses in Fintech

Panelists include: Alexander Fonarev, SBDA Group; Mike Armstrong, ZestFinance; Ohad Samat, TrueAccord; Thomas Smyth, Trim; Rob Guilfoyle, Abe.ai; Moderator: Penny Crosman, American Banker.

Artificial intelligence (AI) is beginning to be used across fintech as companies are looking to more efficiently handle data; at LendIt USA 2017 we hosted a panel focused on leading AI companies who are offering different solutions to the market; panelists discussed the specific solution they provide and how they think they can improve work with data; the discussion also focused on what AI can offer that another workflow cannot and how AI can really make a difference; AI can particularly help when you work with the lower credit tiers and it is also able to use massive amounts of alternative data to better assess risk to a segment of the market that was previously cut off from credit; other topics include fraud detection, the ability to consume massive amounts of data and what the future looks like for AI in fintech.