The survey found that lenders' motivation to adopt AI and ML for operational efficiency has increased significantly (73%) compared to 2018 (42%) when Fannie Mae conducted a survey on the same topic.
AI and ML applications for the mortgage industry include automating and streamlining manual processes, detecting fraud and managing risk, among other tasks.
The latest results indicated that lenders most value AI applications that might help automate this sort of data processing and identify potential anomalies, Peter Ghavami, VP of modeling and data science at Fannie Mae, said.
[
add
]
[
|
|
...
]