Customers of Black Knight Inc. will now benefit from artificial intelligence thanks to an acquisition announced by the mortgage services provider.
On Monday, the Jacksonville, Florida-based company announced that it acquired HeavyWater — a provider of artificial intelligence and machine learning.
According to the announcement, HeavyWater’s AIVA solution leverages AI and machine learning to perform operational functions more efficiently and effectively than can be done through traditional methods.
AIVA takes on manual tasks by reading, comprehending and drawing conclusions based on context to mimic cognitive thinking and build expertise over time, according to Black Knight, a Mortgage Daily advertiser.
Black Knight said it will be integrating AIVA into its premier solutions. In addition, it will make the technology available to clients that want to apply it to other parts of their organizations.
“With the cost of origination and servicing at, or near, all-time highs, AIVA is poised to help increase efficiencies for Black Knight clients,” Black Knight Chief Executive Officer Anthony Jabbour stated in the news release. “AI, machine learning and neural network solutions are the future of delivering enhanced productivity and capabilities to our clients.”
