7(a) Purchases ML Model
Description
Manual review of all 7(a) loan purchase applications is resource-intensive, but OCA needs to maintain quality control and minimize PIIA error rates.
Detailed example
By leveraging data analysis and machine learning, OCA can focus reviews on the applications that require manual review. This project will enable OCA to reduce the amount of effort expended on manual reviews without increasing PIIA error rates.
AI / analytics pattern
Classical/Predictive Machine Learning: Models trained on data to make predictions or classifications based on identified patterns or relationships.
Automation level / stage
a) Pre-deployment – The use case is in a development or acquisition status.
Expected benefit
Reduced manual review burden while maintaining or improving quality, faster processing times for legitimate applications, and optimized use of limited review staff resources.
Audit / financial statement impact
Not high impact: This AI system does not meet the criteria of any of the six pillars that make up High Impact AI in Memorandum M-25-21.
Controls / human review
ATO: Yes; PIA: Not publicly available
Data needed
Internal agency data and historical records relevant to the use case.