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Business Glossary-Term List

Welcome to the MISMO Business Glossary - your online source of mortgage industry business terms and data point descriptions. Follow the links provided for Term Type; Focus Area; and Source descriptions; complete terms of authorized usage; and a more detailed description of the MISMO Business Glossary.  Search tip:  Use quotes for an exact search (e.g., "keyword or phrase"). 

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Artificial Intelligence (AI)

The simulation of human intelligence processes by machines, especially computer systems.

Term Source: Artificial Intelligence Glossary

Term Type: Actor

Focus Area: #ArtificialIntelligence

Automated Machine Learning (AutoML)

A field of research and a suite of technologies that aim to automate the end-to-end process of applying machine learning to real-world problems.

Term Source: Artificial Intelligence Glossary

Term Type: Actor

Focus Area: #ArtificialIntelligence

Chatbot

An artificial intelligence application that conducts conversations with users through text or voice interactions.

Term Source: Artificial Intelligence Glossary

Term Type: Actor

Focus Area: #ArtificialIntelligence

Computer Vision

A field of artificial intelligence that uses machine learning and neural networks to teach computers and systems to derive meaningful information from digital images, videos, and other visual inputs. Computer Vision enables computers to "see," observe, and interpret much like human vision.

Term Source: Artificial Intelligence Glossary

Term Type: Actor

Focus Area: #ArtificialIntelligence

Expert System

An automated system that makes decisions based on parameters built into the system, rather than analysis of data.

Term Source: Artificial Intelligence Glossary

Term Type: Actor

Focus Area: #ArtificialIntelligence

Natural Language Processing (NLP)

A field of artificial intelligence that focuses on the interaction between computers and humans through natural language. NLP is used for processing and analyzing large volumes of unstructured text data from documents and customer communications.

Term Source: Artificial Intelligence Glossary

Term Type: Actor

Focus Area: #ArtificialIntelligence

Robo Advisor

A digital platform that leverages artificial intelligence to advise users with very minimal human intervention.

Term Source: Artificial Intelligence Glossary

Term Type: Actor

Focus Area: #ArtificialIntelligence

 

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