{"id":248245,"date":"2022-09-12T17:07:13","date_gmt":"2022-09-12T17:07:13","guid":{"rendered":"https:\/\/imarticus.org\/?p=248245"},"modified":"2024-03-29T10:14:58","modified_gmt":"2024-03-29T10:14:58","slug":"how-technology-is-changing-the-credit-underwriting-industry","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/how-technology-is-changing-the-credit-underwriting-industry\/","title":{"rendered":"How technology is changing the credit underwriting industry"},"content":{"rendered":"

How technology is changing the credit underwriting industry<\/span><\/h2>\n

There’s a lot of talk about technology in the credit underwriting industry. But what exactly is it? And how has it changed over time? To answer these questions, we’ve compiled a list of some of the biggest trends in technological advancement within this field.<\/span><\/p>\n

Artificial intelligence (AI) and machine learning<\/b><\/h2>\n

Artificial intelligence (AI) and machine learning are two terms that describe the same thing. Machine learning is a subset of AI, although some prefer to use the term “deep learning” for this purpose.<\/span><\/p>\n

Big data analytics<\/b><\/h2>\n

It’s a way to look for patterns and correlations in data, which can help you make better decisions. Big data analytics is also used to predict future events based on historical trends and forecast demand and supply by analyzing past trends.\u00a0<\/span><\/p>\n

For instance, if you want to know how many people will visit your website next month or what they’ll be interested in buying when they get there\u2014you could do this by looking at all the purchases made during a particular year. You would then compare those numbers with historical sales information from previous years.<\/span><\/p>\n

Mobile computing<\/b><\/h2>\n

Mobile computing is a huge part of how technology changes the credit underwriting industry. In case you’re not familiar with what “mobile” means in this context, here are some examples from our own lives:<\/span><\/p>\n