From the course: Machine Learning and AI Foundations: Producing Explainable AI (XAI) and Interpretable Machine Learning Solutions

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Variable importance and reason codes

Variable importance and reason codes - KNIME Tutorial

From the course: Machine Learning and AI Foundations: Producing Explainable AI (XAI) and Interpretable Machine Learning Solutions

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Variable importance and reason codes

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- [Instructor] This course will have some hands on application, so let's take a closer look as to what these explanations might look like in practice. What are some of the practical applications of explainable AI that you might encounter? Have you ever applied for a credit line increase or a more favorable mortgage rate rate or premium credit card and have been declined? In the US and many other countries by law and explanation has to be sent out, and the letter lists the reason codes that may have applied in that situation. Let's assume that you're trying to refinance your mortgage to take advantage of a new lower and you shop around at multiple banks. If you aren't careful about how to go about it it might generate multiple inquiries on your credit report. So you get a decline letter from one of the banks and it gives a brief explanation with a reason code. Let's say it's the reason code 85. The explanation in the letter is…

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