Previously CEO of HeavyWater Inc., the mortgage-focused Artificial Intelligence (AI) provider recently acquired by Black Knight, Inc, Soofi Safavi now serves as Managing Director of Black Knight’s Applied AI group, bringing leading-edge AI and computing capabilities to the Black Knight product portfolio. With over 20 years of experience in mortgage and banking technology, and deep expertise in IT strategy, architecture and machine learning, Soofi is uniquely suited to discuss AI’s role in the mortgage industry.
Q: It seems as though Artificial Intelligence (AI) has resulted in incredible advancements across so many industries, but we haven’t seen the same in the mortgage industry. Why is that?
SOOFI SAFAVI: I would say that we simply haven’t seen it –yet. The mortgage industry is a very complex environment that requires vast amounts of expert knowledge to navigate effectively. That is why there is still so much work to be to be done despite a never-ending quest for increasing efficiency through technology. AI will be key for not only increasing efficiencies, but also identifying and eliminating deficiencies.