Bank machine learning models hit hard by Covid

The survey of financial institutions conducted by the Bank of England found that around 35% of banks reported a ‘positive’ impact from Covid on the machine learning (ML) and data science (DS) technologies that support remote working among employees. However, the central bank found that existing risks may be amplified or new risks may emerge from the use of ML and DS in financial services. For example, ML models may perform poorly when applied to a situation they have not encountered before...
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