Recognizing that introducing artificial intelligence (AI) into an organization can be a daunting task, Tamarack Technology has released a whitepaper explaining how AI can be used within the equipment finance industry: “Five steps to organizational transformation in equipment finance using AI” is available for free download at tamarack.ai/whitepapers/.
“Even though AI is not yet fully understood, the speed at which deployment now moves is outpacing both the economic and social understanding of it,” said Scott Nelson, President and Chief Digital Officer at Tamarack Technology. “The equipment finance industry has an urgent need to act. The industry must strive to understand, manage and learn how AI can help organizations better meet customer expectations and outpace competition.”
Building upon the foundation set forth in the recent whitepaper series on Dark Data, Prediction Automation and Distributed Workflows, the latest paper dives into five areas of decision-making that are necessary in order to structure an AI solution for transformative success:
- Identify and gather existing data
- Consolidate data in a single location for analysis
- Implement a “build-measure-learn” perspective
- Identify measurable outcomes
- Improve effectiveness and efficiency
“We recognize that creating change in business is hard,” said Nelson. “We also recognize that AI can be a daunting proposition for equipment finance companies. Tamarack is committed to helping industry leaders understand where the opportunities exist for AI and how to embrace and explore AI as a strategic risk that is required to meet the changing business requirements needed for success.”
The industry leader for driving innovation within the equipment finance industry, Tamarack offers AI products that improve productivity and reduce risk-to-capital with business intelligence by analyzing and learning from financial and operational data. Tamarack’s business intelligence (BI) and AI automation products accelerate decision-making and enhance team productivity. Its AI product suite includes three primary offerings: Data Console Business Intelligence; AI Automation Predictors; and TrailView Customer Self-Service Portal.
For more information or to download the Organizational Transformation whitepaper visit tamarack.ai/whitepapers/organizational-transformation-using-ai.