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Artificial intelligence Loan Consider the massive size of real estate lending. The Fed’s latest report shows mortgage debt topping $9 trillion. When including mortgages from businesses, it tops $15 trillion. Over 10 million homes and commercial properties sell each year. Equally staggering is how much data exists on the borrowers. Lending is big business and big data, and while banks are harnessing that data, private lenders now need to follow suit. Powered by the rise in computer processing power and individual data, artificial intelligence can find patterns that predict borrower behavior, helping lenders make more money. AI is not quite the stuff of movies like Terminator. Think of it as software analyzing statistics at scale.More info Less info
- Korea, Republic of
- Required to pay VAT
- Active since 2019
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