Tamarack Whitepaper Examines Application of AI for Prediction Automation
Paper explores combining dark data with artificial intelligence to improve decision-making
St. Paul, Minn. (November 14, 2022) — Tamarack Technology has introduced the second in its series of whitepapers on the application of artificial intelligence (AI) in the equipment finance
industry. Entitled “Prediction: The next stage in equipment finance automation,” the piece is available for free download at tamarack.ai/whitepapers/prediction-automation.
Building upon the foundation set forth in the “Dark Data” paper, the second paper explores how combining dark data with AI enables companies to enter the next phase of automation. Specifically, through the use of prediction tools, equipment finance companies can focus on predicting outcomes to enhance opportunities across payment delinquency, tier pricing, funding,
lender partners, profit and loss, yield, residual value, legal action, sales and analysis.
“AI-based prediction automation is one of those technologies that is surprising in how disruptive it can be,” said whitepaper author Scott Nelson, president and chief digital officer at Tamarack
Technology. “Early adopters of our AI suite have experienced increased productivity and rapid growth using access to aggregated data, creating purpose-built business intelligence frameworks, and automating routine manual tasks.”
Tamarack’s new suite of AI products was developed to enhance productivity and revenue capabilities by leveraging both financial and operational data. The products use data from across an organization's digital systems – past and present – to speed up operational workflows and automate decisions like approval, syndication and funding. Tamarack enables customers to use their own generated data in conjunction with other commercial data sources to differentiate their business and elevate competitive advantages that drive more value.
According to Nelson, “Traditional small-ticket, mid-ticket ‘look-to-book’ processes can take days to weeks to complete. With the use of Tamarack’s AI-driven predictors, the process is accelerated to minutes with automated measured-risk policies.” In fact, Tamarack customers using prediction automation have seen productivity increase more than 30 percent while decreasing workflow times from multiple weeks to just nine days.
For more information or to download the Predictors whitepaper visit tamarack.ai/whitepapers/prediction-automation.
About Tamarack Technology, Inc.
Tamarack Technology, a leading provider of AI-based automation and business intelligence software specifically designed for the equipment finance industry. For more than 20 years, Tamarack has helped lessors protect their investments, improve business performance, and provide customers with access to solutions that enhance financial results. The company’s professional services help customers with technology integration, implementation, and data migration for the leading industry portfolio management platforms. Tamarack's suite of AI products connects and integrates key ecosystem applications using historical and real-time data to automate burdensome manual processes, drive operational efficiency with better, faster decision making, and improve organizational productivity. For more information, email firstname.lastname@example.org or visit www.tamarack.ai.