Since AI has turned into a buzzword, many misperceptions created too many myths we`d like to share with you and bust together just like Adam Savage and Jamie Hyneman. Even though we are living right within the Secondary Information Age, the lack of understanding of what actually is AI and where it can bring the society we are all living in, it is a foundation of quite a few misconceptions. Some of them funny, other rather scary.
There was a time when the banks were the sole legitimate lending providers but the rapid increase of Internet coverage, smart devices penetration and credit scoring automation made possible to get a fast loan with just a few clicks on your phone. Welcome to the FinTech world built by much more than cryptocurrencies and ICOs. Credit scoring automation is the tool that enabled loan access to the underfinanced population. Matching credit scoring with machine learning, AI and automation, in general, made this process a viable business case.