Asset finance software provider Alfa has published a new whitepaper on how the industry can accelerate the use of machine learning to deliver significant benefits to businesses and customers. Moving Forward with Machine Learning is the third in a series of whitepapers from Alfa, produced in association with Alfa iQ, the partnership between Alfa and Bitfount that builds and deploys best-in-class machine learning models.
The new whitepaper explores the trajectory of machine learning, its uses in auto and equipment finance, and how it will continue to advance in the near future.
It combines the insights from two previous whitepapers on the issue, Balancing Risk and Reward and Using Machine Learning in the Wild.
Martyn Tamerlane, author of Moving Forward and a solution architect for Alfa, said: “AI and ML represent an exciting shift for finance providers and, while the benefits are better understood now than they were a couple of years ago, the practical side to acquiring those benefits is still unclear for many.
“Alfa’s aim is to demonstrate where machine learning can help solve problems and make lenders more competitive, through its ability to detect patterns in vast amounts of data and feed that into higher-quality, sometimes fully automated, decision making.
“By illuminating the key characteristics of this technology, we’re providing a platform from which people can effect major change.”
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