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By Rajul SOOD, Managing Director - Head of Banking, Acuity Knowledge Partners
AI has become a buzzword across industries in recent years, and with good reason. A third of all European businesses have already adopted AI. If the current growth rate of 32% p.a. continues, AI could contribute an additional EUR600bn in gross value added (GVA) to the European economy by 2030, according to a study commissioned by Amazon Web Services (AWS)*.
The lending industry is expected to drive value from AI adoption across the lending value chain – from origination, underwriting and closing to in-life monitoring. Possible use cases include using machine-learning and deep-learning models tailored for front-office insights for book building and sales forecasting;...
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