You are a development manager working for a financial institution that lends money for home buyers. The institution you work for makes, almost, all the underwriting decisions in a manual manner with the help of some technology tools like excel. Your Manager heard about AI and how it can help automate this process. You are assigned the task of launching an AI initiative in the organization to develop some AI applications in order to automate some of the tasks including the underwriting task mentioned above. Your manager told you about his vision of trying to automate many other sides of the business and work towards becoming an AI enabled company. For the automated underwriting application, your delivery date is after 1 year. In your own term please explain how you would go about approaching this problem. Your answer has to contain the following.

4- Given the nature of this business, there are regulations in place that you have to explain your underwriting decision to the applicant. Given this information, would you automate the entire process, or do you think a human needs to be involved in the review at some point. If you think a human needs to be involved in the review, what are the tasks the machine would do and what are the tasks the human will do?

5- If you have to explain your underwriting decision to the applicant, would this affect the choice of your ML technique? What if the technical individuals present you with two models (explicable with accuracy 80%, inexplicable with accuracy 95%) which one will you choose? and why?

6- Who are the people in the organization that needs to be contacted about the new vision of the company and the way it will be doing its business?

7- Who are the people in the institution who require training?