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> pretty much nobody cares about ML processing for analysis. I work in a bank and a can tell you that the customers absolutely hate ML when it rejects their lo
by tyfon 3mo ago
> pretty much nobody cares about ML processing for analysis.
I work in a bank and a can tell you that the customers absolutely hate ML when it rejects their loan application. Over the pond in the US, I have an impression that the fico score is not exactly popular either, but I have no first hand experience.
- disgruntledphd2 3mo agoAs long as you can get a reason from the model, it's not that bad. Black box automatic decision making is much more problematic.
- nradov 3mo agoIn the US, FICO scores are mainly unpopular with "credit criminals" who have low scores. The score performs quite well in predicting how likely a borrower is to repay a loan. The problems that arise with credit scores in general are when they're used for purposes they were never designed to serve, like screening job applicants. For home mortgage lending, FICO scores are now being partially replaced by VantageScore. https://vantagescore.com/ https://vantagescore.com/
- kennywinker 3mo agoPeople have absolutely hated their loan applications being rejected since before ML was being used anywhere near it. As evidence, let me cite the “computer says no.” sketch from 2004
- bitwize 2mo agoIn 2004, the logic driving such decisions was literally GOFAI: rules engines that fire off responses when certain criteria are met.