Consumer Financial Protection Bureau Director Rohit Chopra said that creditors “must be able to specifically explain their reasons for denial,” decrying some lenders’ overreliance on artificial intelligence to make credit underwriting decisions.Bloomberg News The Consumer Financial Protection Bureau warned lenders of the requirement to provide specific and accurate reasons when denying credit to a consumer,…
Accounting and compliance teams at large companies have a ton of manual repetitive work. Over the last 15 years, everything that is not specialized — accounting, compliance, customer services — got offshored to a team thousands of miles away. This includes internal offshoring to a shared services center or externally to a business process outsourcer….
Artificial intelligence is taking over many roles in marketing. getty Artificial intelligence (AI) has been around for decades. I won’t bore you with its long history, summarized well in this article. It has even had a significant role in the marketing industry for many years (e.g., predictive analytics used in many advertising platforms). But what…
Leland R. Beaumont is an independent wisdom researcher who is seeking real good. He is currently developing the Applied Wisdom curriculum on Wikiversity. This article is adapted from the previously published article Who owns the Productivity dividend? Let’s consider this simple story. Hans Schumacher is a kind man who has owned the family shoe business…
HARTFORD, Conn. (AP) — As state lawmakers rush to get a handle on fast-evolving artificial intelligence technology, they’re often focusing first on their own state governments before imposing restrictions on the private sector. Legislators are seeking ways to protect constituents from discrimination and other harms while not hindering cutting-edge advancements in medicine, science, business, education…
Can the synthesis of man and machine ever be stable or will the purely organic component become such a hindrance that it has to be discarded? If this eventually happens, and I have given good reasons for thinking that it must – we have nothing to regret and certainly nothing to fear. – Arthur C….
Opinions expressed by Entrepreneur contributors are their own. Hold on to your hats, folks! The business landscape is evolving at breakneck speed, and AI coupled with automation is the catapult launching businesses to new horizons. But what’s all the hubbub about? In this article, we’ll dive headfirst into the deep end of automation. We’ll explore…
WASHINGTON (AP) — President Joe Biden said Friday that new commitments by Amazon, Google, Meta, Microsoft and other companies that are leading the development of artificial intelligence technology to meet a set of AI safeguards brokered by his White House are an important step toward managing the “enormous” promise and risks posed by the technology….
