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From YouTube: Exploring the Power of AI in Blockchain for the Mortgage Industry - FMSIG Mortgage Industry Subgroup
Description
Exploring the Power of AI in Blockchain AI has been a popular topic since the introduction of ChatGPT, and the mortgage industry is no exception. If you're unfamiliar with AI and find yourself in this situation, we encourage you to watch this month's Hyperledger Mortgage subgroup meeting.
Together, we will explore how blockchain can harness the potential of AI. Our agenda includes an introductory session on AI, followed by a discussion on its advantages and potential risks. Lastly, we will delve into various use cases where AI can make a significant impact.
Presented by mortgage industry subgroup co-chair Marvin Bantugan, and James Hendrick providing an update on the state of blockchain in the mortgage industry.
Timestamps:
00:00 Welcome and presentation
01:13 Community information
04:20 Status of Blockchain & AI in the mortgage industry
19:07 AI and Blockchain in the Mortgage Industry
19:30 What is AI?
20:46 The risks of artificial intelligence
21:40 Uses of AI
22:15 Examples of AI Applications
22:27 Future of AI
22:54 Conclusion
23:53 AI in Mortgage - AI Primer
26:53 Considerations when using Chat GPT
35:24 How is AI being used with Blockchain
36:14 What can AI do for blockchain
38:11 How is AI being used with blockchain
41:22 Q & A
Join the FMSIG Mortgage Subgroup Wiki: https://wiki.hyperledger.org/display/CMSIG/FMSIG+Mortgage+Industry+Subgroup
Subscribe to the mailing list to receive the latest updates: https://lists.hyperledger.org/g/financial-markets-sig
Follow the Hyperledger Financial Markets Special Interest Group LinkedIn page: https://www.linkedin.com/showcase/hyperledger-financial-markets-sig/
----
Hyperledger – Open Source Blockchain Technologies
Hyperledger is an open source community focused on developing a suite of stable frameworks, tools and libraries for enterprise-grade blockchain deployments.
It serves as a neutral home for various distributed ledger frameworks including Hyperledger Besu, Fabric, Sawtooth, Indy, as well as tools like Hyperledger Avalon, Cactus and libraries like Hyperledger Aries, Ursa. Learn more about Hyperledger projects: https://www.hyperledger.org/use
Discord: https://discord.gg/rVCn4j7UFd
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Follow-us on Twitter @Hyperledger
Learn about Hyperledger Membership: https://www.hyperledger.org/about/join
#Hyperledger #Blockchain
License
Creative Commons Attribution license (reuse allowed)
A
Hello:
everyone,
my
name,
is
Marvin
bantugen
and
welcome
to
the
May
2023rd
hyperledger
financial
markets,
mortgage
subgroup
meeting-
that
is
always
a
mouthful.
But
before
we
get
started,
I'd
like
to
express
our
appreciation
to
the
financial
markets,
special
Industry
Group
and
the
hyperledger
foundation
for
their
ongoing
support
and
making
this
group
possible.
A
Okay,
as
always,
please
note
that
this
meeting
is
being
recorded
and
is
Under
the
Umbrella,
the
hyperledger
foundation.
So
we
ask
that
everyone
abide
by
the
antitrust
policy
and
code
of
conduct.
The
antitrust
policy
states
that
we
avoid
discussions
of
companies,
specific
products
and
projects
and
pricing.
We
don't
make
negative
remarks
about
other
companies
or
their
products,
and
the
code
of
conduct
means
that
we
trust
each
other.
We
treat
each
other
with
respect,
we
never
discriminate,
communicate
constructively.
A
A
Here's
our
agenda
for
today,
James,
Hendrick
and
I,
will
Pro
or
excuse
me.
James
will
provide
an
update
on
the
developments
in
the
mortgage
industry,
all
discuss,
Ai
and
blockchain
in
the
mortgage
industry
I've
broken
up
the
AI
and
blockchain
component
into
two
discrete
segments,
what
I'm
calling
first
gear
and
second
gear.
The
reason
will
become
apparent
once
we
get
into
the
second
gear
portion
and
then
a
q
a
at
the
end.
A
We
always
cover
the
slide
in
each
meeting.
This
is
to
reinforce
that
we're
all
on
the
same
blockchain
Journey,
but
we
just
may
be
at
different
paths
along
that
Journey
for
today's
topic
of
AI
and
blockchain.
This
is
particularly
applicable
since,
for
most
of
us
we're
at
the
beginning
of
the
Journey
of
understanding,
Ai
and
blockchain.
A
Today's
session
is
part
of
a
series
on
AI
and
blockchain
that
will
focus
initially
on
education
and
in
the
future
sessions
we'll
delve
deeper
into
the
topic
and
have
speakers
come
on
that
are
using
blot,
Ai
and
blockchain
and
or
have
more
in-depth
knowledge
of
it.
In,
for
example,
my
good
friend
Mark
D'angelo
has
released
an
MBA
column
on
AI
titled
in
an
AI
reimagined
Financial
World.
It
begins
with
the
consumer
and
will
include
a
link
to
that
in
the
chat.
A
Also
I
just
want
to
mention
everyone
that
Mark,
James
and
I
will
be
participating
in
an
MBA
webinar
on
May
17th,
that's
titled,
leveraging,
Ai,
blockchain
and
new
technologies
in
today's
environment.
We'll
include
a
link
to
that
as
well,
and
that
is
a
free
webinar.
It's
free
to
MBA
members
and
we'll
provide
a
code
for
non-members,
so
they
can
watch
a
complimentary
as
well.
A
Okay,
the
next
couple,
slides
I,
usually
go
through
pretty
quickly.
I
always
mention
these.
For
those
that
are
new
to
the
group.
This
slide
provides
links
to
different
resources.
The
Linux
Foundation,
our
mortgage
subgroup,
for
example,
is
the
second
link
from
the
bottom.
The
mortgage
subgroup
link
contains
meeting
notes
for
our
group
recordings
from
previous
sessions
and
the
curated
articles
about
blockchain
in
the
mortgage
industry.
A
A
B
B
Some
of
it
ties
directly
with
blockchain
some
of
it's
running
parallel,
but
we
have
been
starting
to
gather
up
with
all
of
our
blockchain
articles
that
we
have
available
for
folks
articles
about
AI
in
the
industry
as
well,
so
do
be
taking
a
look
at
the
wiki
I'll
cover
that
again
towards
the
end,
but
to
kind
of
jump
in
today.
We've
got
quite
a
few
articles
that
I
wanted
to
talk
about
the
first
first,
one
from
finessa
really
kind
of
talks
about.
B
Ai-Powered
software
can
analyze
vast
amounts
of
data
to
identify
patterns,
Trends
anomalies,
that
traditional
systems
are
unable
to
do
to
detect,
and
this
provides
lenders
insights
that
enable
them
to
make
informed
financial
decisions
with
the
client.
So
this
first
article
really
covers
three
topics.
It
covers
AI
in
the
mortgage
industry,
talking
about
risk
assessment,
how
it's
able
to
analyze
data
from
multiple
sources,
including
credit
reports,
financial
statements,
even
social
media
profiles,
allowing
informed
decisions
about
approvals
and
rates,
providing
fraud,
detection,
allowing
them
to
detect
and
prevent
fraudulent
loan
applications,
chat.
B
Bots
and
virtual
assistants
I
think
you're
going
to
hear
that
a
lot
in
today's
discussions,
AI
powered
chat,
Bots
and
virtual
assistants.
They
can
provide
borrowers
with
personalized
guidance
and
support
throughout
the
entire
loan
life
cycle
and
then
predictive
analysis,
historical
data
and
can
predict
future
loan
performances,
help
lenders,
identify
potential
risks
and
proactively
manage
portfolios.
B
This
article
does
also
talk
about
automation
on
loan
management,
software
about
faster
loan
processing,
improved
risk
management
that
personalized
experience
and
better
compliance,
and
then
the
article
does
also
talk
about
blockchain.
A
lot
of
the
similar
topics
that
we've
talked
about
month
over
month
with
this
group,
the
benefits
of
decentralized
lending,
reducing
transaction
costs,
increasing
access
to
credit
for
underserved
borrowers,
smart
contracts
and
how
they
can
automatically
without
intermediaries.
B
You
know
reduce
time
and
cost
of
processing
loans
and
then
improve
data
security
from
providing
a
decentralized
tamper-proof
system
for
storing
sensitive
loan
information,
so
fantastic
article.
It
does
cover
a
lot
of
topics
and
I
highly
recommend.
Taking
a
look.
The
second
one
from
unite
AI,
really
discusses
Ai
and
machine
learning
in
the
financial
industry,
providing
various
examples.
This
article
too
does
talk
about
conversational
chat,
Bots
and
how
AI
driven
chat,
Bots
and
virtual
assistants.
B
They
offer
24x7
assistance
any
from
everything
from
account
balances
to
recent
transactions,
and
customers
can
even
send
funds
using
conversational
language.
With
these
AIS
customer
sentiment,
analysis
oftentimes.
We
have
difficulty
combining
customer
sentiment
into
our
platform
and
our
survey
analysis.
Ai
is
capable
of
analyzing
what
customers
communicate
can
pinpoint
even
the
emotions
they're
expressing
in
real
time,
and
these
systems
can
alert
lenders
customer
service
teams
so
that
they
can
resolve
issues
more
proactively
with
the
customer
worthiness
for
a
thin
file
or
no
file.
B
Ais
can
give
a
clear
view
of
a
customer,
especially
when
they
have
that
limited
credit,
and
while
not
mortgage
specific,
the
article
does
walk
through
a
use
case
in
the
automotive
industry,
demonstrating
how
AI
is
used
to
ensure
compliance
with
cfpb
requirements.
So
I
thought
that
was,
you
know
fairly
significant
as
we're
always
constantly
dealing
with
the
cfpb,
our
third
article,
to
open
with
this
one
is.
You
know
how
technology
is
Revolution
revolutionizing
the
mortgage
industry
fairly
fairly
large
article,
it
actually
breaks
down
into
eight
completely
different
Technologies
and
sections.
B
Four
of
the
sections
are
really
relevant
to
what
we're
talking
about
today.
So
the
first
section
on
AI
virtual
assistants,
streamlining
those
mortgage
Communications
providing
that
personalized
recommendation.
The
second
section
is
on
blockchain
technology,
talking
about
enhancing
security
and
transparency,
while
reducing
fraud
and
how
it
can
lower
costs
in
both
the
origination
and
the
servicing
Arenas,
and
then
big
data
analytics
is
our
third
section.
B
Excuse
me
talking
about
informed
decision
making
how
to
analyze
market
trends,
to
identify
emerging
opportunities,
how
to
track
changes
in
property
values,
identify
opportunities
for
high
potential
growth
and
to
be
able
to
predict
future
default
rates
and
then
later
on,
in
the
same
article
in
section
seven,
they
do
talk
about
machine
learning
and
Predictive
Analytics
in
mortgage
lending.
How
machine
learning
can
analyze
vast
data
sets
to
predict
the
likelihood
of
loan
defaults,
repayments
and
other
critical
outcomes
so
again,
another
great
topic
fairly
lengthy,
covering
a
variety
of
different
sections.
B
B
This
is
actually
an
article
we
pulled
out
of
LinkedIn
it's
by
Frederico,
tagliani
or
tagliani
is
talking
about
the
emergency
emerging
Trends
in
mortgage
industry
is
the
use
of
large
language
models
or
llms
l
Lambs
powered
by
AI
to
automate
aspects
of
the
loan
processing,
workflow
they're,
able
to
analyze
data
such
as
customer
Financial,
records,
credit
scores
and
identify
patterns
to
predict
future
outcomes
by
automating.
A
lot
of
this
loan
underwriting
process
llms
can
significantly
reduce
processing
time
and
improve
accuracy.
B
In
fact,
a
study
by
Mackenzie
found
that
the
use
of
machine
learning
algorithms,
including
ROMs,
can
reduce
processing
Times
by
up
to
50
percent.
In
addition,
this
article
also
goes
into
blockchain
and
how
blockchain
can
assist
companies
by
streamlining
the
loan
process
workflows
and
by
automating
various
components
such
as
credit
assessment
and
Loan
approvals.
B
Accenture
found
blockchain
in
the
industry
can
reduce
processing
Times
by
up
to
as
much
as
seventy
percent,
and
then
the
article
also
goes
on
to
discuss
how
open
banking
can
reduce
the
risk
of
fraud
in
the
loan
industry
by
another
20
percent
as
well.
So
great
article
coming
out
of
LinkedIn
definitely
recommend
taking
a
look
talking
about
some.
You
know
real
world
applications.
Our
fifth
item
is
pavon
Argyle
from
Sunwest
mortgage
he's
talking
about
their
AI
product
called
Morgan.
B
So
Morgan
is
a
24x7
real
estate,
personal
assistant,
that's
accessible
via
basically
a
chat
interface.
She
makes
buying
a
house
as
easy
as
having
a
text
message
conversation
with
the
borrowers,
and
borrowers
are
able
to
talk
to
her
just
like
any
other
chat
system
and
she
delete
delivers
guaranteed
responses
within
minutes.
You
know
one
of
the
interesting
things
I
found
about
this
article.
Is
we
hear
talk
in
the
industry
about
how
AI
can
potentially
have
this
unconscious
bias
that
it
influences
into
their
results?
B
Well,
one
of
the
things
they
talk
about
with
Morgan
is
almost
the
exact
opposite
of
that.
When
the
urban
Institute
did
a
study,
they
determined
that
African-American
borrowers
in
the
United
States
had
twice
the
decline
rate
of
their
counterparts:
white
American
borrowers
when
Morgan
runs
through
the
process.
It
helps
eliminate
a
lot
of
that
additional
paperwork
across
and
then
it
starts
to
look
at
all
buyers
as
being
equal.
B
So
it's
when
Sunwest
implemented,
Morgan
and
brought
rates
down
to
be
equal
to
the
or
the
decline
rates
to
be
down
equal
to
the
national
average
of
white
Americans
as
well,
so
Sunwest
is
really
touting
Morgan
and
how
every
American
has
the
same
opportunity
to
buy
a
home
within
this
Presley
press
release.
There
is
also
a
link
to
pavon
talking
with
I
think
it
was
Channel
5
News
out
of
Las
Vegas
about
Morgan.
B
So
if
you
get
a
chance
to
take
a
look
jump
into
that,
the
actual
interview
segments
only
a
couple
minutes
long
and
then
our
very
last
one.
So
for
those
of
you
that
are
regular
attendees,
you
know
you've
seen
on
our
Wiki.
We
provide
everything
from
written
articles
to
YouTube
videos
to
you
know
blogs.
We
want
to
provide
you
a
wide
sense
of
Hey
where's,
this
information
available.
So
this
very
last
one
that
we
pull
up
on
ADOT
how
Ai
and
data
are
changing
again
for
mortgage
Executives.
B
It's
actually
a
video
blog
from
trustenians
YouTube
channel
their
guest
Steve
Brown
who's
a
technologist.
He
covers
six
different
topics
on
how
mortgage
lenders
can
take
advantage
of
them.
He
actually
wrote
a
book
called
The,
Innovation,
automate
or
ultimatum,
and
within
that
book
he
talks
about
AI,
The,
Internet
of
Things,
autonomous
machines,
Next
Generation
networks,
augmented
and
virtual
reality,
and
then
blockchain
and
distributed
Ledger
Technologies,
the
actual
YouTube
video,
the
blog
that
you'll
watch.
It
predominantly
focuses
on
the
AI
environment.
B
He
does
really
a
great
job
of
covering
what
AI
can
and
can't
do
in
our
current
environment
and
how
AI
at
a
high
level
Works
behind
the
scenes.
You
know
AI
is
such
a
bleeding
edge
technology
right
now
that
we're
really
not
sure
where
we're
at
in
the
life
cycle
of
things,
you
know,
are
we
kind
of
at
the
top
right
now
and
we're
about
to
Plateau
for
a
while
and
what
ai's
capable
of
doing?
Or
you
know
more
than
likely
are
we
just
scratching
the
surface
and
we're
going
to
see?
B
Ai
chat,
GPT
barred
a
couple
others
in
order
to
do
some
analysis
and
pull
some
information
together,
and
while
it
does
a
fantastic
job
of
pulling
a
lot
of
information
together
in
a
short
period
of
time,
you
still
wind
up
having
to
massage
the
information.
That's
coming
out
of
it,
based
on
the
particular
tool
that
you're
using
and
really
you
know
again
how
young
the
technology
is
in
the
environment.
B
He
talks
about
how
the
biggest
skill
of
the
21st
century
is
really
going
to
be.
You
know
about
how
to
use
these
eyes
and
how
to
program
AIS
how
to
take
advantage
of
them
in
the
the
business
environment.
He
discusses
different
tools
for
mortgage
lenders
to
check
out
everything
from
copy
AI
Jasper
chat
GPT
to
Bard.
So
if
you
do
have
an
opportunity,
take
a
look
at
it.
It's
about
a
45
minute,
long,
video,
Marvin.
Let's
go
ahead
and
move
on
to
the
next
slide.
B
There
is
a
link
for
previous
mortgage
blockchain
articles,
you'll
find
all
the
stuff
that
we've
covered
over
the
last
year
and
a
half
since
2021
within
that
section
as
well,
and
then
we've
curated
a
whole
list
of
other
articles
that
we've
got
available.
Should
anybody
be
interested-
and
you
know
looking
at
different
use
cases,
companies
that
are
doing
looking
to
build
a
you
know,
an
argument
for
why
to
move
in
this
industry
or
to
just
in
general,
get
yourself
educated
and
then.
B
Lastly,
in
the
upper
right
of
this
page,
everything
Marvin
talked
about
about
how
to
set
up
a
lfib
in
order
to
log
into
this
site.
You've
got
links
directly,
there
that'll
show
you
how
to
do
that
and
then
how
to
get
added
on
to
the
meeting
list.
So
I
will
go
ahead
and
take
my
lead
there
and
pass
it
back
over
to
you.
Marvin.
A
A
What
is
ai
ai
is
the
ability
of
machines
to
form
tasks
that
typically
require
human
intelligence,
such
as
learning,
reasoning
and
problem.
Solving
AI
can
be
divided
into
two
types:
narrow
and
weak
yeah,
which
we
get
AI,
which
is
designed
to
perform
a
specific
task
in
general
or
strong
AI,
which
can
perform
intellectual
tasks
that
normally
a
human
performs.
There's
also
a
wide
variety
of
applications
and
James
alluded
to
some
of
these.
We
have
icons
for
all
of
the
key
ones
at
the
bottom
of
this
page,
I'll
only
go
over
a
couple
of
them.
A
A
We've
all
seen
some
of
the
dystopian
future,
where
AI
has
run
amok
and
turns
on
Mankind
and
we're
all
familiar
with
Skynet
HAL
9000
wintermute
Ultron.
These
are
all
just
examples
of
AI
gone,
bad
and
I
can
see.
James
smiling
on
that.
If
someone
knows
the
reference
to
Winter
mute
pop
it
in
the
chat,
you
get
extra
points.
Okay,
the
these
are
just
a
few
examples
of
AI
gone
bad
aside
from
potentially
bringing
the
apocalypse.
A
Okay,
despite
the
risks
associated
with
AI,
there's
still
a
myriad
of
uses
and
benefits.
The
possible
uses
span.
A
breadth
of
field
such
as
Health,
Care,
Transportation,
education
and
entertainment.
Ai
can
help
diagnose
diseases,
improve
traffic
flow,
personalized
education
and
help
develop
software
programs
games
and
so
on.
It
can
also
be
used
for
scientific
research,
environmental
monitoring,
space
exploration,
just
a
lot
of
things
that
we
can
do
with
AI.
A
A
And
really
the
thing
that
I
want
to
stress
on
this
slide
is
AI.
Still
it's
in
it's
still
in
its
early
stage,
and
its
future
is
uncertain,
as
James
alluded
to.
If
I
were
to
be
melodramatic,
I
would
say
that
AI
could
either
lead
us
to
a
utopian
society
where
machines
do
all
the
work
or
dystopian
Society
where
machines
control
humans.
It's
going
to
be
up
to
us
to
determine
where
how
AI
is
developed
and
used.
A
Okay,
if
you
feel
that
the
preceding
overview
of
AI
was
too
light
or
mediocre,
guess
what
I
use
chat
gbt
to
write
that
presentation?
Okay,
this
is
a
product
of
Ai,
Ai
and
blockchain.
First
gear.
Okay,
I
wanted
to
demonstrate
what
chat
GPT
can
do,
how
to
leverage
it
and
its
limitations,
but
note
that
the
graphics
for
the
AI
slides
were
generated
by
an
AI
application
and
I
thought
they
were
fantastic.
A
A
Okay,
as
I
mentioned,
this
is
going
to
be
our
second
here.
We're
gonna,
we're
gonna
start
off
with
just
AI
or
chat
PT
primer,
okay,
just
to
get
us
all
up
to
speed
granted,
there
is
more
than
chat
CPT,
but
it's
the
most
popular.
So
we're
going
to
focus
on
that.
As
James
mentioned,
he's
used
Bard
quite
a
bit.
I
haven't
so
James.
A
If
you
want
to
include
any
comments
as
we
go
through
this
on
Bard
by
all
by
feel
free
or
anyone
else,
that's
a
part
of
this
meeting
by
all
means
feel
free.
The
purpose
of
this
is
for
discussion
and
and
get
everyone
up
to
speed.
Okay
chat,
GPT
that
stands
for
chat,
generative,
pre-trained,
Transformer,
okay.
It
was
developed
by
open,
Ai
and
released
in
November
of
2022..
It's
built
on
top
of
ai's
GPT,
3.5
and
4,
which
are
foundational
large
language
modules.
James
has
already
used
that
term.
A
Llms
such
as
GPT
are
trained
on
vast
amounts
of
Text
data
for
chat
CPT.
For
example,
there
are
176
billion
parameters,
that
is
a
ton.
It's
uses
a
training
data
set
of
570
gigabytes
of
books,
article
websites
and
others,
but
the
data
set
used
only
went
to
2021.
Okay,
keep
that
in
mind
we're
gonna,
we're
gonna,
come
back
to
that,
because
that
that's
pretty
important,
okay,
also
chat
GPT
and
how
it
answers
its
questions
or
queries
doesn't
use
the
internet
to
locate
answers.
A
Unlike
other
AI
assistants
like
Siri
or
Alexa,
it
constructs
excuse
me,
it
constructs
a
sentence
or
response
word
by
word,
selecting
the
most
likely
token
or
word
that
should
come
next,
so
that's
predictive!
It's
based.
It
uses
this
prediction
in
its
training
and
in
other
words,
chat.
Gpt
arrives
at
an
answer
by
making
a
series
of
guesses,
that's
the
most
simplistic
explanation
I
can
provide,
which
is
part
of
the
reason
why
it
can
give
wrong
answers
and
present
them
as
completely
true.
A
A
Okay,
so
on
on
this
slide,
I
just
wanted
to
talk
about
some
of
the
chat,
GPT
considerations
as
I've
been
using
chat,
GPT
and
most
of
these
considerations
are
applicable
to
all
AI
applications,
so
James
again
feel
free
to
include
any
commentary
first
and
foremost,
as
a
user
of
Chachi
BT
and
other
AI
learn
how
to
do
prompts.
Okay,
those
are
queries,
write
a
prompt
like
how
you
talk
to
a
person.
Writing
a
prompt
is
more
than
just
asking
a
one
sentence
question.
It
involves
providing
relevant
background
to
provide
context
for
asking
a
query.
A
For
example,
when
I
first
used
chatgpt
to
create
that
presentation
on
AI
I
wrote
a
prompt
that
said
simply
quote
create
a
presentation
that
explains
what
AI
is
it's
risk
and
how
it
could
be
used,
and
if
you
thought,
the
presentation
that
I
just
gave
was
simplistic.
That
was
even
more
so.
It
produced
an
overly
simplistic
presentation.
Then
I
rewrote
that
prompt
to
be
from
the
perspective
of
an
AI
expert,
create
a
presentation
that
explains
what
AI
is
it's
risk
and
how
it
can
be
used.
A
This
produced
a
more
detailed
and
informative
presentation,
but-
and
this
is
a
big,
but
if
a
question
requires
a
deep
level
of
expertise,
chat
GPT
may
not
be
able
to
give
a
solution
or
answer
that
meets
the
standard
of
a
specialist
in
the
field.
So
we
just
saw
an
example
of
that
that
initial
presentation,
although
informative,
it's
not
going
to
be
deep
and
it's
not
going
to
be
at
the
level
of
a
specialist
also
chat.
Gpt
can
generate
wrong
answers
and
For
Heaven's
Sake,
don't
ask
it
to
do
math.
A
Okay,
I've
done
queries
online
about
what
chat
GPT.
Almost
everyone
says:
don't
ask
chat
GPT
to
do
math.
Okay,
we
talked
a
little
bit
about
the
data
set
that
chat
GPD
uses
and
the
fact
that
it's
all
limited
to
2021.
recall
from
the
earlier
presentation
that
Tachi
excuse
me
chat.
Gpt
was
released
in
November
of
2022
and
if
you
go
to
that
presentation
that
I
just
made
using
chat
GPT,
it
made
no
mention
of
chat
GPT
in
its
discussion
of
AI.
The
one
slide
that
included
discussions
about
the
different
AI
applications.
A
That
was
me
editorializing,
I
added
that
additional
content.
The
original
presentation
made
no
mention
of
Chachi
BT
bar
or
any
of
the
other
ones.
So
if
you're
doing
anything,
that
is
time
sensitive
time.
Specific,
definitely
keep
that
in
mind.
If
your
query
requires
the
use
of
any
critical
data
or
events
that
is
post
2021,
you
will
get
an
incomplete
or
even
an
incorrect
answer.
A
Also
chatting
PD
gets
its
information
from
Human
content,
so
think
about
this.
That
means
it
includes
all
of
the
fallacies
and
oils
from
Human
content.
It
includes
all
of
the
websites
out
there,
but
it
also
includes
Reddit.
It
includes
Wikipedia
and
it
includes
4chan
I
mean
for
those
of
you
that
have
been
on
the
internet.
You
guys
know
a
lot
of
the
errors
and
information,
negative
content,
that's
on
Reddit,
4chan
and
sometimes
on
Wikipedia.
So
that's
included.
So
keep
that
in
mind.
A
Hey,
we
are
keenly
aware
of
information,
security
and
session
management,
as
you
use
chat,
GPT.
Your
conversations
with
the
chat
bot
are
used
to
improve
and
train
the
AI
and
improve
future
responses.
That's
the
training
that
I
mentioned
on
the
earlier
Slide.
The
open,
AI
privacy
policy
demonstrate
that
the
service
saves
pretty
much
everything.
Okay,
when
you
type
information
into
a
query
or
use
additional
information
to
write
a
query
or
prompt.
This
includes
personal
information.
A
You
provide
conversations
personal
information
collected
through
social
media
log
data
or
metadata,
including
your
IP
address
and
browser
what
device
you're
on
and
more
so
it
uses
all
of
these
keep
in
mind
that
most
of
these
most
websites
have
similar
policies,
but
the
risk
is
even
greater
at
chat.
Gpt.
So
remember
when
you're
interacting
with
any
web
service,
including
chat
GPT,
you
should
assume
that
any
information
that
you
provide
is
going
to
be
public.
Nothing
is
private.
B
C
D
B
You
know
a
couple
examples
of
this
for
the
group
we
played
around
several
weeks
ago
with
taking
chat,
GPT
and
Bard
Ai
and
feeding
them
the
exact
same
questions
and
getting
very
different
responses.
One
would
generate
a
response.
That's
three
or
four
paragraphs.
The
other
one
generated
a
response
that
was
two
or
three
lines,
and
it's
really
a
matter
of
like
we
said
once
you
generate
it,
you
need
to
get
in
there
and
you
need
to
massage
it
more.
But
it's
also
based
on
the
question
you
asked.
B
You
know
it's
one
thing
to
say:
hey
what
are
the
benefits
of
AI
start
with
that
in
an
AI
generator
and
then
add
to
it?
What
are
the
benefits
of
AI
in
the
mortgage
industry?
What
are
the
benefits
of
AI
in
the
mortgage
industry
to
help
reduce
risk
and
you'll
see
how
the
answers
start
to
change?
As
you
get
more
specific
in
your
question,
you
are
going
to
get
more
specific.
You
know
out
of
the
answers,
as
Marvin
mentioned,
I
played
with
Bart
AI
a
lot.
B
B
I
signed
up
a
little
over
a
month
ago,
took
under
a
week
before
I
got
my
access,
but
now
I'm
able
to
access
it
via
my
phone
I'm
Bill
able
to
access
it
via
my
computer,
some
of
the
things
that
are
a
little
bit
different
about
Bard,
so
one
Bard
is
free
barred.
When
it
produces
you
a
response,
it
gives
you
three
variations
on
the
same
response.
When
you
go
through
those
three
variations,
it's
basically
all
the
exact
same
content,
but
one
might
present
it
in
a
bullet
point
format.
B
B
A
A
I'm
sure
you've
all
read
about
the
excitement
around
Ai
and
chat
GPT,
and
that's
why
you're
here
today,
in
my
personal
opinion,
this
excitement
is
well
founded,
I
do
think,
AI
will
change
the
world
and
it
seems
that
everyone
is
jumping
on
the
AI
bandwagon
and
dropping
it
into
the
marketing
or
appending
it
to
their
name.
So
I
included
a
quote
here
from
Jenny
Johnson.
The
CEO
of
Franklin
Templeton
Investments
at
AI
and
blockchain
will
be
the
two
biggest
disruptors
to
any
industry.
A
A
You
can
use
AI
to
bolster
Network
Integrity
as
well,
by
detecting
and
preventing
fraudulent
activity,
so
I
think
that's
definitely
one
of
the
key
advantages
of
pairing
AI
in
blockchain.
Also,
you
can
enhance
smart
contracts
with
AI.
You
can
adjust
smart
contracts,
allowing
them
to
adapt
to
shifting
market
conditions
and
assimilating
new
information.
A
You
can
use
AI
to
evaluate
and
interpret
smart
contract
terms
and
independently,
evaluate
and
potentially
resolve
issues
before
contract
execution.
Ai
can
also
vastly
enhance
the
decision-making
process
for
smart
contracts
by
tapping
into
Predictive
Analytics.
This
is
something
that
James
mentioned
as
well:
AI
can
scrutinize
fast
data
sets,
identify
Trends
patterns
and
potential
risks
that
could
affect
a
smart
contract
outcome.
A
A
So
how
is
AI
being
used
with
blockchain
in
the
mortgage
industry
here
are
three
specific
examples
that
I've
identified
the
first
one
is
Redfin
and
Zillow
I'm
sure
everyone
has
used
one
of
those
app
websites
to
do
a
property
search.
You
enter
your
criteria
for
a
home
or
property,
and
these
websites
generate
a
list
based
upon
that
criteria.
A
By
using
a
Chachi,
PT
plug-in
these
websites
can
identify
and
suggest
homes
and
communities
that
would
not
have
been
included
in
your
search.
So
if
you
have
a
very
definitive
criteria,
it
will
provide
a
more
expansive
population
by
taking
your
interest
into
consideration
and
potentially
identifying
a
home
or
community
that
you
didn't
even
consider
so
I
think
this
is
a
really
interesting
use
of
chat.
Gpt,
there's
also
big
purple
dot.
They
are
a
mortgage,
real
estate,
customer
relationship
manager,
management
solution
and
they've
integrated
chat
GPT
into
its
marketing
platform.
A
This
allows
chat,
GPT
to
interact
and
streamline
the
sales
process
by
using
natural
language
processing,
in
other
words,
their
AI
assistant,
understands
questions
from
clients
and
responds
in
a
more
human-like
fashion.
So
at
one
of
the
things
that
James
mentioned
was
using
AI
to
provide
quick,
accurate
responses
to
queries,
and
this
is
exactly
what
BPD
has
done.
A
Our
last
example
is
a
company
called
intain
insane
is
a
blockchain
enabled
structured
Finance
platform.
They
use
Ai
and
blockchain
to
provide
an
automatic,
integrated
solution
to
connect
all
interested
parties
in
involved
in
a
structured
Finance.
So
this
includes
issuers,
Underwriters
verification
agents,
auditor
services
and
so
on,
so
starting
with
servicing
conventional
loan
securitizations
in
team
partnered
with
wsf
the
fourth
biggest
trustee
in
the
MBS
environment
in
2020..
Currently
more
than
6
billion
in
assets
have
been
have
been
administered
using
their
entain
admin
tools.
So
I
think
this
one
is
really
interesting.
A
A
A
Okay,
I
do
see
a
question
in
the
chat.
What
is
the
expectation
on
the
decrease
in
high
cost
to
the
mortgage
customer
from
aai
slash,
blockchain,
Technologies
Jeff?
That
is
a
fantastic
question
and
really
cuts
to
the
core
of
why
we're
here,
I,
don't
know
and
and
I'll
be
absolutely
Frank
with
you
as
I
speak
with
different
Technologies
right
now.
The
expectation
is
using
blockchain
alone,
doesn't
necessarily
decrease
your
cost,
but
it
does
cut
down
on
some
of
the
additional
steps.
A
For
example,
Redwood
trust
has
shown
that
using
blockchain
you
can
take
out
a
hundred
basis
points
in
audit
related
and
re-verification
expenses
in
securitizing
a
more
a
mortgage.
So
that's
one
example:
there
is
no
data
available
yet
on
pairing,
Ai
and
blockchain
Technologies
I
think
people
are
still
exploring
that
and
as
soon
as
we
do
get
any
of
that
information
or
even
a
lien
or
a
hint
and
we'll
definitely
share
it
with
the
rest
of
you
guys,
because
you
know
that.
That's
why
we're
all
here,
let's
find
out
what
Ai
and
blockchain
can
do.
B
Yeah
Marvin,
he
posted
a
follow-up
question
as
well.
Jeff
did
regarding
the
decrease
in
the
length
of
time
to
acquire
a
mortgage,
and
you
know
very
similar
Jeff.
While
there
isn't,
you
know
definitive
studies
out
there
as
of
yet
the
areas
that
are
working
within
the
you
know,
blockchain
environment,
at
least
have
been
touting
everything
from
a
50
50
to
a
70
percent
reduction
in
the
processing
time.
A
Absolutely
yeah
and
one
of
the
things
that
we're
trying
to
do
as
well
is:
there
are
a
couple
loss.
It's
important
to
Sales
Systems
that
use
blockchain
and
I've
seen
a
couple
demos
where
they
have
significantly
increased
the
length
of
time
to
process
a
mortgage.
There's
one
company
out
there
called
Vesta.
We
actually
spoke
with
that
company
at
the
mortgage,
the
MBA
technology
solution.
A
A
E
Oh
sure,
thank
you.
I
appreciate
the
opportunity
yeah.
This
is
going
to
be
a
series
over
the
next,
probably
another.
Two
to
three
months,
there'll
be
about
four
parts
to
this
article,
but
the
first
one
was
released,
really
talking
about
focusing
AI,
not
from
the
technology.
Not
from
you
know.
What
do
we
do
with
it
or
the
blockchain
is.
Is
the
strategy
and
understanding
where
the
you
know?
How
does
this
impact
your
customer
and
and
to
take
Jeff's
point,
and
let
me
throw
a
camera
up
here?
E
E
There
are
some
academics
that
would
argue
if
they
were
to
to
re-image
the
supply
chain
of
the
mortgage
processing
that
we
could
take
those
you
know
45
75
days
and
probably
make
it
under
15.
Definitely,
but
some
people
are
even
advocating
for
a
week
but
again,
15
pretty
much
is
the
regulatory
burden.
E
There
are
compliance
issues,
there's
time
differences,
so
there's
some
things
that
have
to
change,
and
this
is
where
the
Regulators
come
in,
even
though
the
technology
can
do
it,
and
that's
really
what
this
article
is
all
about:
understanding
the
customer
understanding,
their
pain,
understanding,
the
industry,
Challenge
and
then
mapping
that
into
the
future
ecosystems
of
what
our
data
is
telling
us
and
what
we
can
do
with
it.
So
it's
a
com,
it's
a
different
look
that
is
not
technologically
focused
because,
again,
you
know
we
we
talk
about
the
different
types
of
blockchains.
E
E
They
are
saying
release
four,
maybe
release
five
would
be
the
last
llm
that
would
ever
be
issued
that
the
real
focus
and
value
of
something
like
a
GPT,
this
generative
AI
discipline
would
actually
go
into
into
industry
clouds
and
systems
that
are
focused,
maybe
they're
enhanced
by
something
like
the
MBA
or
different
industry.
Groups
that
are
are
ring,
fencing
these
assets,
that
are
more
industry
focused
and
that
technology,
those
Solutions
those
disciplines
that
that
capability
is
only
applied
to
those
industry.
Realms,
not
the
llms
that
we
think
about
from.
E
You
know
tell
me
how
to
how
to
make
a
souffle
or
something
silly
like
that.
You
know
they're
they're
not
going
to
be
very
large
they're
going
to
be
industry
focused
and
as
examples
of
this
we're
seeing
this
already
from
folks
like
Oracle
we're
seeing
this
with
their
Cerner
acquisition
and
and
since
they
have
that
software
they're,
creating
llms
that
are
focused
on
an
industry
basis,
if
you
can
call
them
an
llm,
they're,
very
specific
they're,
very
pointed
and
I
think
that's
where
this
whole
idea
of
AI
is
coming
to
be
James.
E
Marvin
Hewitt
actually
talked
about
some
of
the
the
vendors.
If
you
look
at
the
since
I
worked
for
with
private
equity
in
VCS
the
funding
last
year
alone,
2022
was
nearly
30
billion
dollars
for
AI,
generative,
AI,
Solutions
and,
and
it
was
spread
across
nearly
260
different
companies
and
every
week
every
week
there
are
nearly
two
dozen
applications
that
sit
on
top
of
chat
GPT
that
are
introduced
for
a
commercial
offering,
and
so
you
start
to
add
this
stuff
up.
E
You
start
to
look
at
where
this
is
going
and
what
this
may
mean
for
a
mortgage
Market.
Is
that
the
idea
of
how
we
did
fintech,
how
we
did
Red
tact
and
again,
fintech
and
regtech
in
the
last?
What
15
years
guys
about
15
000
different
solutions?
How
are
you
going
to
make
sense
of
that?
And
and
we
cannot
sit
in
a
world
where
we
have
15
000
AI,
so
this
is
some
of
the
the
the
more
fundamental
questions
leaders
have
got
to
ask
themselves
is:
how
do
we
deploy
this
to
your
point?
E
Ai
is
not
commercially
off
the
shelf.
It's
not
like
a
fintech
solution.
These
are
truly
customizable.
Learned
type
of
solutions
that
can
typically
go
bad
within
12
months.
85
percent
of
the
AI
implementations
in
12
months
have
no
validity
after
they've
been
implemented.
This
is
some
of
the
challenges
that
you
know.
Data
is
driving
this
digital
information
new
ecosystem.
So
it's
a
very,
very
complex
discussion.
E
There
is
not
one
size
that
fits
all.
This
is
not
a
prescription
module
where
you
know
a
vendor
comes
in
you
know,
maybe
maybe
I
don't
want
to
mention
the
bigger
vendors,
but
we
all
know
who
they
are.
You've
got
all
the
software
you've
bought
the
Indiana
across
the
the
mortgage
supply
chain.
What
do
you
do
with
it?
Ai
is
going
to
completely
disrupt
that
and
I
think.
That's
where
you
know.
If
you
look
at
the
article
I
started
as
saying
this
is
all
great
stuff.
We
could
have
lots
of
good
discussions
on
it.
E
We
can
go
on
for
days,
but
it
begins
with
the
customer
and
it's
knowing
what
your
customer
is,
how
to
reach
them,
how
to
make
sure
that
what
we're
producing
for
them
is
not
biased.
It's
not,
you
know
we're
not
using
training
data
for
our
AI
solution
that
is
going
to
cause
non-financial
inclusion.
You
know
we
talk
about
financial
inclusion,
but
to
restrict
people.
To
only
give
you
know,
you
know
good
interest
rates
or
good
solutions
to
to
people
that
really
don't
need
it
anyway.
E
Ai
is
more
about
the
inclusion
and-
and
it's
also
about
Revenue
generation.
So
you
know
there.
There
is
so
many
different
things
here
that
it's
going
to
take
a
strategy
of
AI.
It's
going
to
take
building
blocks
of
AI
to
create
the
mortgage
Industries
kind
of
next
iteration
and
that's
what
this
article
series
is
is
taking
taking
a
broad
brush,
giving
some
specifics
and
asking
some
of
those
probative
questions
saying
before
you
start
to
implement
something
and
then
find
out
that
your
rois
aren't
there.
E
A
But
thanks
Mark,
that
that
was
fantastic
information.
I
appreciate
you
sharing
that
perspective
with
the
rest
of
the
team,
any
other
questions
or
or
comments
from
the
rest
of
the
audience.
We
do
still
have
a
couple
minutes
out
there,
any
other
questions
or
commentary
while
we're
waiting
for
any
additional
questions.
A
I
did
want
to
remind
everyone
that
Mark,
James
and
I
are
going
to
be
on
a
webinar
posted
that
is,
with
the
MBA
The
Mortgage
Bankers
Association
on
May
17th
I
think
we
dropped
a
link
to
that
in
the
chat,
so
that
is
a
free
webinar
for
MBA
members
and
Juventus
is
providing
a
code
so
that
it
can
be
complementary
to
non-members
so
by
all
means
join
us.
If
you
can
and
I
believe
that
recording
will
be
available
as
well
see
if
there's
another
question.
A
C
C
A
C
Sure
sure
so
we
have
been
doing
this
I
mean.
Obviously
we
are
talking
about
chat
chipity
in
the
last
half
a
year
or
so,
but
we
we
actually
worked
on
this
product
at
least
four
years
back.
So
we
have
been
building
on
this.
You
know
primarily
from
a
business
problem
perspective,
but
yeah.
That's
that's
a
topic
for
another
day.
C
I
just
had
one
question,
maybe
maybe
someone
can
respond
to
that
so,
but
just
based
on
this
chat
CPT
is
there
any
any
real
life
case
study
in
which
somebody
is
actually
using
some
of
these
llms
in
terms
of
integrating
with
a
blockchain
backed
application,
I
mean.
Obviously
you
talked
about
four
or
five
aspects
in
which
this
can
be
used,
but
is
there
any
real
life
use
use
case?
C
Let's
say
which
has
been
done
in
the
last
six
to
nine
months,
where
some
of
the
llms
can
actually
has
actually
been
used
to
improve
the
smart
contract
efficiency
or
to
train
some
of
the
other
other
applications,
so
I'm,
specifically
for
a
blockchain
back
application.
I
just
wanted
to
know
if
someone
actually
has
an
idea
on
that.
A
I
have
been
researching
that
Sanjay
I've
gotten
whiffs
of
a
couple
companies
that
are
very
that
are
keeping
that
information
very,
very
close
to
their
vest.
So
the
answer
is
I
suspect,
yes,
I,
don't
think
we
will
know
definitively
until
they
release
their
products
so
that
they
don't
lose
any
Market
advantage.
C
Okay,
okay,
yeah
yeah,
so
we
I
mean
the
question
comes
to
my
mind
because
of
the
simple
reason
that
we
also
you
know
within
our
team.
We
have
been
thinking
about
how
best
to
use
it,
so
we
have
been
able
to
use
chat,
GPT
or
co-pilot
only
in
terms
of
our
coding
tasks
where
we
we
use
reactors
or
we
use
node.js
in
terms
of
writing
applications.
So
we
use
copilot
extensively
for
that.
C
D
Sanjay
this
is
Jeff
on
the
call.
I
asked
a
question
earlier,
but
since
you're
there
I
got
a
question
for
you.
So
in
since
you're
you're
out
there
already,
if
you're
a
company
company
a
then
I'm
going
to
put
in
chat
GPT
I'm
in
the
mortgage
group,
are
you
looking
at
the
ROI
to
be
from
a
risk
reduction
standpoint,
in
other
words,
less
The
Faults
on
mortgages,
because
I'm
going
to
get
my
risk
down
on
a
on
a
loan,
optimized
or
cost
reduction?
D
E
C
C
In
fact,
that's
one
of
the
lowest
hanging
fruits,
the
AI
uses
of
AI
in
our
application,
which
actually
fascinates
people
and
because
of
which
people
actually
get
into
that
I
mean
in
just
two
sentences.
What
we
do
is
we
say
that
before
we
get
any
mortgage
data
into
our
blockchain
platform,
the
data
has
to
be
digitized.
The
data
has
to
be
sanitized
so
that
we
have
to
authentic
and
correct
correct
data
which
we
take
into
blockchain,
because
once
we
take
it
into
our
lasers,
we
cannot
change
it.
C
We
cannot
delete
it,
I'm,
sorry,
we
cannot
delete
it.
So
so
that's
where
we
actually
use
AI
to
read
all
the
contract
documents,
the
loan
contract
documents
and
we
extract
specific
data
parameters
which
we
pick
up
and
save
those
or
keep
those
in
a
blockchain
ledger,
so
that
from
that
point
onwards
the
data
is
immutable
and
it's
transparently
available
to
the
participants
on
our
Network.
C
So
that's
that's
a
pretty
pretty
useful
scenario
where
we
can
now
we
have
been
using
Ai
and,
like
I
said
it
has
been
one
of
the
biggest
selling
points
and
which
fascinates
people
to
get
into
the
platform
so
well
and
and
like
I
said
you
know,
I
mean
llms
are
something
that
you're
still
looking
at.
But
this
this
has
been
pretty
useful
for
us.
As
far
as
adoption
of
our
platform
is
concerned,.
E
Rather
comment
one
other
comment:
I
would
give
you
is
what
what
some
of
the
Capital
Market
people
are
looking
at,
especially
in
kind
of
the
post,
GSE
or
the
post
banking
regulation,
is
how
do
I
generate
additional
revenue
and
can
AI
help
identify
where
those
are.
So,
if
you
look
at
the
business
models
and
how
they're
changing
and
some
of
the
reason
bank
failures,
AI
has
got
another
interesting
role
to
play.
That
is
really
just
evolving,
because
efficiencies
I
think
everybody
recognizes.
E
A
A
It's
really
something
that
it
brought
them
onto
the
map
and
it
really
outlined
the
benefits
of
blockchain,
not
AI
per
se
but
blockchain,
and
how,
by
putting
that
information
onto
the
blockchain,
you
maintain
transparency,
immutability,
all
the
benefits
that
a
blockchain
would
provide
and
provide
significant
savings.
I,
don't
recall
if
it
had
any
time
savings,
but
in
terms
of
we
having
to
input
the
stare
and
compare
that
everyone
talks
about.
It's
a
really
good
white
paper,
I'll
email
it
to
you.
After
this.