Zest AI
| File:Zest AI logo.png | |
| Private | |
| ISIN | 🆔 |
| Founded 📆 | 2009 |
| Founder 👔 | Douglas Merrill |
| Headquarters 🏙️ | Los Angeles, California |
Area served 🗺️ | |
Key people | Mike de Vere, Chief Executive Officer |
| Products 📟 | Credit underwriting software |
| Members | |
Number of employees | |
| 🌐 Website | zest.ai |
| 📇 Address | |
| 📞 telephone | |
Zest AI is a private financial software company headquartered in Los Angeles, California. It develops and markets machine learning software used by underwriters to assess borrower risk.[1] Its software produces one of the more commonly digitized credit scores.[2]
History[edit]
Zest AI was founded by Douglas Merrill[3][4] in 2009 under the name ZestFinance.[1] The company started out as a direct-to-consumer subprime lender, before transitioning to selling its software to other lenders.[4][5] It changed its name from ZestFinance to Zest AI in October 2019[1] after founder Merrill left the company and Mike de Vere took his place as CEO.[6] By October 2020, it had raised $87 million in venture capital funding.[7]
Software[edit]
The company's software uses machine learning and thousands of data-points to score a borrower's risk.[2][8] It employs a technique called “adversarial de-biasing” where one AI creates an analytical model, and another criticizes that model for biases. The first AI then adjusts its models based on the biases identified by the criticizing AI.[9]
References[edit]
- ↑ 1.0 1.1 1.2 Saha, S.N. (2020). The Digital Choices (in Malti). Evincepub Publishing. p. 45. ISBN 978-93-89774-60-3. Search this book on
- ↑ 2.0 2.1 Lippert, John (October 11, 2014). "ZestFinance issues small, high-rate loans, uses big data to weed out deadbeats". The Washington Post. Retrieved April 16, 2021.
- ↑ Jenkins, Patrick (June 23, 2014). "Big data lends new Zest to banks' credit judgments". Financial Times. Retrieved April 17, 2021.
- ↑ 4.0 4.1 Kim, Eugene (July 18, 2015). "Google's former CIO was deaf and dyslexic as a kid - now he's helping millions of Americans get emergency loans". Business Insider. Retrieved April 17, 2021.
- ↑ Clark, Liat (August 15, 2013). "ZestFinance CEO: 'We need data artists to save zombie borrowers'". WIRED UK. Retrieved April 17, 2021.
- ↑ Kahn, Jeremy (October 20, 2020). "Zest AI, which uses A.I. to make lending more inclusive, gets new funding". Fortune. Retrieved April 17, 2021.
- ↑ Wiggers, Kyle (October 20, 2020). "Zest raises $15 million to reduce loan algorithm bias". VentureBeat. Retrieved June 12, 2021.
- ↑ Allen, Karma (June 10, 2014). "Silicon Valley's rich want to bank America's poor". CNBC. Retrieved April 17, 2021.
- ↑ Totty, Michael (November 3, 2020). "How to Make Artificial Intelligence Less Biased". WSJ. Retrieved June 13, 2021.
External links[edit]
This article "Zest AI" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Zest AI. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
