ACTICO, a global leader in providing software for intelligent automation, today announced the launch of latest version of its Intelligent Automation Platform. One of the key features of the newly launched product is enabling complete transparency in decisions made by Machine Learning (ML) algorithms, which in turn makes decisions fully explainable.
Speaking on the announcement, Mr. Ajit Shah, Managing Director- APAC, Middle East and Africa, ACTICO, said, "Self-learning AI systems tend to be black boxes i.e. it is very difficult to trace the reason behind a decision - this has been a major impediment in the adoption of such systems, which have immense potential in increasing efficiency across organizations. Knowing how a decision has been made is not only relevant for customers, but also for regulators in tightly controlled industries, such as banking, insurance and healthcare."
The ACTICO Platform uses cutting-edge ML technology to automate business processes. The solution helps to identify new patterns in data and thus, optimization potential. ACTICO's unique approach combines two aspects towards automating operational decisions: Expert knowledge in the form of predefined rules and data insights generated by ML models. Companies can start with either aspect and successively, have the option to expand as per their requirements.
Added Mr. Shah, "This upgraded version of the platform will empower companies to explain the reasons behind AI powered decisions, while also realizing the benefits, such as cost savings and efficiency improvement that new technologies have to offer. For example, financial institutions can now easily explain the reasons behind rejecting a loan or charging higher premium for your insurance."
ACTICO'S intelligent automation platform finds applications across banks and financial service providers - from credit risk assessment, loan origination and fraud detection to dynamic pricing and customer engagement.