Which of the following is a benefit of AI in decision-making used by banks?

Challenger App

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ASlower loan approval processes

BIgnoring customer credit history

CReplacing all bank employees with AI

DAI credit scoring models for quick loan approvals

Answer:

Banks utilize AI algorithms to rapidly and accurately assess creditworthiness, improving speed and reducing errors in decision making

Related Questions:

Consider the following statements: Which is/are correct?

Taylor advocated for scientific selection and training of workers to achieve maximum efficiency and prosperity.
Efficiency can be improved by employing workers without training them in best methods.
Assignment of work must suit the physical and mental capabilities of the employee.

What does the Contingency Approach imply about organizational design?

Identify the correct statements regarding the key elements of Quality Management.

Quality Planning involves defining quality goals, standards, and the methods to achieve them.
Quality Assurance (QA) is a reactive process that inspects products to find defects.
Quality Control (QC) is a proactive approach aimed at preventing defects by focusing on the entire quality system.
Quality Improvement is a continuous effort to enhance processes and products.

What is the primary objective of Quality Improvement in an organization?

To identify and fix defects after the product has been manufactured.
To continuously enhance the processes and products to increase efficiency and quality.
To set the initial quality goals and standards for a project.
To ensure that the final output meets quality requirements through inspection.