The Globe and Mail reports in its Thursday edition that when Bank of Nova Scotia
customers miss a credit-card payment, an artificial-intelligence
system is shaping how the bank tries to get its money.
In a Globe special, Jacob Serebrin writes that the system, which was completed
in December, is the result of a partnership between the
bank and DeepLearni.ng, a Toronto-based AI start-up.
It analyzes the individual customer's
past behaviour, as well as the bank's large data set around
credit-card collections, looking
for connections. "You're trying to find the patterns
of behaviour that lead you to believe a customer will pay
you back," says Neil Bartlett, Scotiabank's
senior vice-president of analytics. The system developed by DeepLearni.ng uses a type of artificial
intelligence that is modelled on the human
brain and combines multiple
layers of processing. Stephen Piron, the founder of
DeepLearni.ng, says that while
his company has worked with
Scotiabank in the past to do
research, the current collaboration
began over the summer. "They're keen to use AI in different
parts of the bank. They wanted a good-use case that was
easy to measure and that had
some economic value," Mr. Piron
says.
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