On this week's episode of #MamaSays, let's chat about Mama’s chauffeur—her bike—its bell, and how it all ties into AI-driven EDD. ??♀????
I’ve got this trusty little bell on my bike that I use when people inevitably wander into the bike lane. It’s my polite (or maybe not so polite) “Hey, could you please not stand here?” signal. But recently, after months of riding, my bell developed a mind of its own. Now, it rings when I don’t need it – like when I hit a bump, a groove in the sidewalk, or some random uneven surface. It’s as if it’s decided to become the self-appointed enforcer of bike lane rules.
At first, it was irritating. No one wants to be that person, ringing at every little pebble. But then it hit me—this is exactly what early-stage AI models do. My bell, much like a fresh AI system, was responding to every insignificant trigger because it hadn’t learned what actually mattered.?
In the world of Enhanced Due Diligence (EDD), it’s common for AI to start off overwhelmed by false positives—just like my bell freaking out over sidewalk grooves. But, with proper training, AI learns to filter out the fluff and focus on what’s important. According to McKinsey, companies that fully embrace AI technologies could potentially see profitability increase significantly—by around 20%—through better use of data, automation, and improved decision-making.
Once my bell stops worrying about every little bump, I can focus on the bigger picture – much like how AI in EDD allows businesses to stop micromanaging every minor red flag. Instead, AI lets us zero in on real risks, helping streamline the merchant onboarding process. This means less time wasted on unnecessary alerts and more focus on making smarter, data-driven decisions.?
In today’s world, AI is reshaping how we assess risk. It takes us from being reactive to proactive, enabling more efficient processes and reducing human error – all while spotting hidden threats. Just like how my bike bell should ideally ring only when it truly matters, AI in EDD frees us up to focus on what really counts.
Riding smoother – and smarter – all the way. ??♀?And maybe someone can give me a contact for a bell fixer?
Senior Software Engineer at Melio.AI
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