back to article Palantir's Trump bonanza continues with Fannie Mae contract to fight fraud

Trump administration darling Palantir has scored another data-guzzling win by partnering with Fannie Mae to detect mortgage fraud using AI.  Fannie Mae, a US government-backed outfit that buys mortgages from lenders and bundles them into mortgage-backed securities, will partner with Palantir to create a new "AI-powered Crime …

  1. 45RPM Silver badge

    I can only assume that Palantir’s software is shitty and that any project developed in partnership with them is doomed to suffer serious problems. In my experience, intelligent people (the kind you’d want for software development) tend to have a pretty well developed sense of right and wrong and, as such, are unlikely to work for such a morally bankrupt outfit. Furthermore, any complex project benefits from diversity to ensure that all bases are covered, all potential problems are considered. Monocultures do not generally result in good solutions. And, given Palantir’s animosity to diversity, I’d say that any project they work on is a whole spit-roast of f*cked.

    1. Anonymous Coward
      Anonymous Coward

      Woah, wtf did you just write ? DEI has been proven time and time again to fail all concerned parties.

      Do you honestly believe that repeating the mantra will make it true ?

      Wake up and stop the nonsense, you are helping no one.

      1. The Central Scrutinizer Silver badge

        evidence? citations? bring it on

        1. Anonymous Coward
          Anonymous Coward

          Read the article and then reply.

          There are many articles like this, and with the demise of the woke movement we are seeing more and more appearing. Its almost as if the lies are being brought out into the public view and being demolished one by one. Delussion is being returned to reality

          https://eric-sandosham.medium.com/the-problem-with-dei-cb81d1053543

      2. Casca Silver badge

        OH no, another maga moron. Fuck off to twitter

        1. Anonymous Coward
          Anonymous Coward

          "OH no, another maga moron. Fuck off to twitter"

          By that statement I would would guess an IQ of around 80..

          Maybe , just maybe, its possible that other opinions other than your own actually exist. But with an IQ of around 80 I can understand that that is factually difficult for you to comprehend.

      3. The man with a spanner Bronze badge

        These guys scare the shit out of me. So much power residing in the shadows and given the opportunity to be decent citizens unfailingly take the FAIL option.

        There is no AI in failure.... oh! Opps

        1. The man with a spanner Bronze badge

          So, people who think that diversity, inclusion and a desire treat people fairly are making tools to segregate the population into good (Us) and criminals (Them).

          Is this going to work out well?

          Do you want to live in such a society? What if your children deviate from the norm - only my norm though.

      4. Dan 55 Silver badge

        DEI has been proven time and time again to fail all concerned parties.

        Is that why localisation in most US software is broken, because US developers without any idea about localisation have been assigned to localisation tasks?

    2. An_Old_Dog Silver badge

      Intelligent != Moral

      intelligent people (the kind you’d want for software development) tend to have a pretty well developed sense of right and wrong

      As much as this fact pains me, morality is absolutely not a consequence of, or indicated by, intelligence.

      A review of World War II should provide you with a plethora of examples -- on all sides -- of this.

      1. 45RPM Silver badge

        Re: Intelligent != Moral

        I’ll give you a thumbs up because I think you have a partial point. One doesn’t need to be intelligent to be moral, but I think that intelligence is an indicator that the person may be moral as well. True, there were intelligent people in Nazi Germany, but there were a great many more who only claimed to be intelligent (like Musk, in Nazi ‘Merica) but who were really only standing on the shoulders of giants. Giants who had largely left Germany in the brain drain that inevitably occurs when an immoral government takes control and interferes in research organisations.

        We’re seeing that brain drain now in the US as well.

      2. Alistair
        Windows

        Re: Intelligent != Moral

        @An_Old_Dog

        As Canuck what knows the history, I'm inclined to see that as an insult.

    3. SundogUK Silver badge

      "In my experience, intelligent people (the kind you’d want for software development) tend to have a pretty well developed sense of right and wrong and, as such, are unlikely to work for such a morally bankrupt outfit."

      How old are you? Because that's about the most naive thing I have ever seen written.

      1. 45RPM Silver badge

        Oh come now. You know that’s not true at all. Unless, of course, you’re admitting to not reading the appalling drivel that you write.

  2. Anonymous Coward
    Anonymous Coward

    They're 80% hype. Nosedive to come shortly.

    1. Anonymous Coward
      Anonymous Coward

      Into cocaine, mostly..

      1. The man with a spanner Bronze badge

        "Into cocaine, mostly.."

        And ketamine - posibly at the same time.

        I have no idea what the pharmacological impact of taking both would be.

        1. Khaptain Silver badge

          You would be running around with an erection that you couldnt get rid off having visions of supremely beautifull aliens.

  3. spold Silver badge
    Holmes

    I guess they must hope...

    ..that no-one points the AI Fraud detector too close to home.... lest they get it up their sweet Fannie Adams (yes allowable sp.).

  4. Pascal Monett Silver badge

    "new software to speed up deportations"

    Yes, and that went swimmingly well, didn't it ?

    We all know the song by now : AI is the solution to everything.

    Except correcting its own mistakes.

    1. Anonymous Coward
      Anonymous Coward

      Re: "new software to speed up deportations"

      I liked this:

      "There's no AI in 'failure'. No, wait .." :)

      but this is possibly better:

      "There's no AI in 'solution'.."

  5. blu3b3rry
    Devil

    "By integrating this leading AI technology....detect patterns that were previously undetectable"

    Who needs to find legitimate patterns in data when the AI will simply hallucinate them for you?

    1. Roland6 Silver badge

      Re: "By integrating this leading AI technology....detect patterns that were previously undetectable"

      What is notable is this statement:

      “ She told reporters that an exercise using the Palantir tech that will be deployed for the new unit was able to review a stack of financial documents and identify fraud in as little as 10 seconds, while human auditors could take months of work to find flaws in the same paperwork.‘

      It is clear, from the omission, the Palantir tech failed to find any fraud in the documents it was given. So either the test was run on clean documents only, or the tech failed to identify “previously undetectable” fraud.

  6. Anonymous Coward
    Anonymous Coward

    “patterns in data”

    Opportunities to out people we don’t want/like…

  7. ChrisElvidge Silver badge

    Fannie Mae, a US government-backed outfit that buys mortgages from lenders and bundles them into mortgage-backed securities

    And this worked so well last time.

    1. Dan 55 Silver badge

      Privatising profits and socialising losses...

  8. Anonymous Coward
    Anonymous Coward

    The tech Gestapo are closing in.

  9. Omnipresent Silver badge

    Skynet is here

    With their new national database, and facebook defense plan, the drones will be at your doorstep and breaking through your windows in a matter of a few years. My generation went from not having a phone and getting kicked out of the house, to living in absolute fear with no where to go.

    This world is now a prison, and the tech bros built it for their own purpose, to destroy. You were warned, we even begged you. If you are still on social, you will be the first to be disappeared by the robots.

  10. Anonymous Coward
    Anonymous Coward

    Fraud

    My definition and Trump’s definition of “fraud” seem to differ greatly.

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