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ROLE OF Artificial intelligence AND DIGITAL LENDING
What is the primary role of Artificial Intelligence in retail banking?
AI in retail banking is used to automate processes, enhance customer experience, detect fraud, enable personalized product recommendations, and improve credit underwriting through data-driven decision making.
What is 'Supervised Learning' in the context of AI-based credit risk models?
Model trained on labeled historical data to predict outcomes.
What does the term 'Digital Lending' refer to in the context of banking?
Digital lending refers to the use of digital channels and technology platforms to originate, process, disburse, and manage loans, significantly reducing turnaround time and paperwork compared to traditional lending.
What is 'Unsupervised Learning' and how is it used in banking fraud detection?
Detects hidden patterns in unlabeled data to flag anomalies.
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