AFF Member Stock Discussion

[lovestotravel]

Yep, but my point is the “software” (the AI) isn’t free. The banks will be paying a lot for AIaaS (or some other iteration/combination of XaaS). Ongoing fee for a clod based service or the likes. Big $$$ involved integrating and securely operating it alongside the banking systems.

It's already partly integrated where I work while it has cost $$ we have reduced other software costs to cover it...

 

[Mr_Orange]

The other issue is making sure it actually understands the questions and can provide the correct answers. The chat bots used by various companies to date are mostly useless. I typically write my question and then when it replies, I reply with, "speak to human" as many times as is required to make the chat bot go away and a real human join the chat.

 

[burmans]

For “less” (perhaps). The implementation, and ongoing costs aren’t cheap but they might actually be more reliable and than a human also.

Totally agree, quite a few years ago I managed a few programs implementing comprehensive credit reporting. Now I’ve seen more than a few people on here criticising some credit decisions but I must say that I got to see the business cases and hence the evidence that automated systems can be far better at predicting bad risks than humans. And that was 10+ years ago.

No doubt AI can get things wrong too but that’s not really the right question. If you only have two options (human/AI) then AI will win a lot of the time. Personally would prefer AI with some human review but of course that costs, sometimes more than the cost of getting it wrong occasionally. And that’s a business decision (unless you have laws which mandate a human review).