The definition of a successful business may differ from what people perceive, but bankers have a very specific lowdown with key defined financial figures. Machine Learning (ML) is now playing an increasingly crucial role in running banks’ operations and to provide readymade solutions. They are already processing the huge quantities of data available to gauge authentic business intelligence on the market. Unlike the traditional top-down model used by bankers, ML has a more holistic approach, even bottom-up. ML is not all about machines. It is about helping a human make a better decision as has happened with credit decisions. ML-based suites can even put in recommendations on other more creditworthy applicants. Rather than helping small-business lending portfolios, entire communities will get empowered using Machine Learning.

Source:https://www.forbes.com/sites/forbesfinancecouncil/2018/11/01/how-machine-learning-is-quietly-transforming-small-business-lending/#5cf9ea5b6acc

Uploaded Date:06 November 2018