AI has the power to revolutionise lending, but at a cost to people with lower credit scores
As artificial intelligence (AI) steadily increases its hold on the global economy, one of many areas ripe for disruption is consumer pricing. In situations where different consumers are offered the same product or service at different prices, it is now possible to take the discretion away from staff and use a computer to calculate the best price using a combination of historic pricing data, machine learning capabilities and algorithms. Airlines such as Virgin Atlantic are using machine learning to offer more competitive airfares, for instance. (You might think airfares are standardised, but actually they are affected by numerous varia...... Read Full article on HadNews