Talking to ChatGPT about the Credit Loan Risk Model…

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Required a charge card or vehicle finance? Financial institutions are making them less complicated to obtain

” This year the heat of AI painting has not dropped, ChatGPT since its release in December 2022, every day is to occupy the front page of the self-publishing media, netizens posted a large number of amazing dialogue content, making people feel that ChatGPT can both write novels, and can change the bugs, which also made me spend two hours ChatGPT (hereinafter referred to as, C teacher) its a conversation about the Credit Loan risk model, to get together ”

Q1: Write a 200-word abstract on ChatGPT, credit and risk control model, and career development
” ChatGPT is a chatbot technology that allows bots to communicate with humans in natural language. At its core is a large language model that understands human language and responds accordingly.
In terms of credit risk modeling, ChatGPT can help financial institutions more accurately assess lending risk. By analyzing personal information, such as income level and career status, ChatGPT can help financial institutions predict a borrower’s ability to repay.
In terms of career development, ChatGPT can help individuals better understand their career prospects. It can recommend suitable careers and make reasonable career plans for individuals based on their abilities and interests.
Overall, ChatGPT is an advanced artificial intelligence technology that can improve financial risk models, facilitate individual career development and increase work efficiency.

ChatGPT says it can assess risk based on user information, income, occupation and other dimensions, which is not a bad feature to use, depending on how the big manufacturers play your role, I am not optimistic about your brother, recently used Transformer architecture applied to the table data, the effect is really hard to say!

Let’s start with the basics and see if it knows anything about FICO, which is unknown in the credit industry, as shown in Q2:

 

Q2: How is the FICO score designed?

” The FICO score (also known as credit score) is a metric developed by Fair Isaac Corporation (FICO), a U.S. company, to assess an individual’s credit risk.The FICO score is based on information gathered from an individual’s credit report, including his or her credit history, debt, and payment habits.
The FICO score is calculated using a number of factors, the most important of which include
Payment history Payment history: This factor reflects how well an individual has paid debts (such as credit cards, loans, etc.) in the past, including whether payments were made on time, whether payments were late, etc.
Debt Status Debt Status: This factor reflects an individual’s current level of debt, including credit card limits, loan balances, etc.
Credit History Credit History: This factor reflects an individual’s credit history, including when they started using credit cards, applying for loans, etc.
New Credit New Credit: This factor reflects whether the individual has recently applied for a new credit card or loan, and whether the credit limit has been increased, etc.
There are many details involved in the calculation of the FICO score, and different credit bureaus may use different methods of calculation. Typically, FICO scores range from 300-850, with higher scores indicating that an individual is a lower credit risk.

Tell us the history of credit control models since the 1950s, preferably involving capital one, FICO, American Express, etc.

“The history of credit risk models dates back to the 1950s, when many banks began using statistical methods to assess the credit risk of potential borrowers. One of the first banks to use credit risk models was American Express, which introduced a model called “Optimizer” to assess the credit risk of credit card applicants.
2. Over time, more and more banks and financial institutions have started using credit risk models and have continued to improve and optimize them. Among them, FICO Corporation (Fair Isaac Corporation), a leader in credit risk models, has introduced the FICO credit scoring model, which is widely used in credit evaluation in the United States.
3. In addition, Capital One Bank is also a financial institution that uses credit risk models. The model used by this company takes into account a variety of factors, including the borrower’s credit history, income level, asset profile, and borrowing purpose, to assess the borrower’s credit risk.
Overall, credit risk models have played an important role in helping financial institutions assess the credit risk of borrowers over the past few decades and thus decide whether to grant credit.