Tamarack Technology, a provider of artificial-intelligence-based automation and business intelligence software designed for the equipment finance industry, released a whitepaper aimed at guiding equipment finance companies in harnessing the potential of AI for effective risk management and decision-making. The whitepaper, titled “AI ushers in the next generation of risk management for equipment finance,” is available to download for free.

“Risk management, and specifically credit risk management, is a core function of any equipment finance business,” Scott Nelson, president and chief digital officer of Tamarack Technology, said. “AI is defining the next generation of risk management, and leaders who adopt AI to manage risk in their business operations will tip the risk-reward balance to more rewards. AI enables engaging risk without suffering unwanted consequences.”

The whitepaper delves into the role of AI in streamlining risk management processes and expediting data-driven decisions. It not only highlights how AI simplifies risk management but also underscores its ability to enhance efficiency and accelerate risk-based choices. The whitepaper also shares real-world examples illustrating how AI implementation can effectively mitigate risks.

“AI not only augments our ability to assess risks but also opens new avenues for strategic decision-making. It is revolutionizing risk management,” Nelson said. “By leveraging AI technologies, equipment finance companies can gain invaluable insights from vast datasets, enabling them to make informed, data-driven decisions that are crucial for sustainable growth and profitability.”

Tamarack Technology offers a suite of AI products that leverage a lessor’s historical and operational data to predict financial outcomes and improve operational performance. Its AI product suite includes three primary offerings: Data Console Business Intelligence, AI Automation Predictors and the TrailView Customer Self-Service Portal.