AI: No more dumb systems!

Posted: 2023-10-06

Almost everybody in professional setting has come to a brick wall caused by a computer system. Either it is a problem with a cumbersome data entry or a difficulty to trouble-shoot a record or trade in an ever increasing world of regulations or other complexities. The users frustration start building up, to the degree that they stop using the system! We’ve seen in our experience such actions, which derailed multi-million dollar investments led by established management consulting companies.

At Process IQ we solve those challenges by using Artificial Intelligence (sometimes called Machine Learning). Our mission is to enable our clients to focus on what they do the best: business. The boring stuff can be left to algorithms.

The typical process of rectifying a data problem at a financial organization quite often looks like this:

Manual resolution process

With AI we can simplify that:

AI assisted resolution process

The black box typically contains logistic regression or random forest ensemble, but the key is the feedback loop. By capturing good decisions and all bad, that the approver had to correct, the system learns from mistakes.

All those links are great, but how does it work in laymans terms? During learning process we are tweaking black box parameters to match what Approver selected. The parameters that give answers that are closest to the correct, are then used to provide recommendations. This is called supervised learning

At some point the science turns into art. How do you represent domain knowledge? What about curse of dimensionality? How to prevent over-fitting and how to optimize target function, are some of the questions that system designer is facing with. We strive for these challenges and our product CORTEX uses AI to reduce the boring stuff. So you can focus on more value add to the business.

Credits: Some icons have been made by