We cover a wide range of applications, including risk modelling, time series analysis, price prediction and Explainable Artificial Intelligence (XAI).
Knowledge-based consulting, quality assurance and training
We develop software and offer consulting, quality assurance and training. Our core competence is statistical-mathematical modelling and machine learning, but we also work with data security and privacy issues. Often, the challenge lies in identifying the simplest, yet accurate and efficient in close collaboration with our clients.
We have applied deep learning in credit scoring, used machine learning to detect money laundering and continue to extensively research XAI. In addition to solving applied problems, we also focus on general method development. These activities are mainly organised through basic funding, Finsec and BigInsight.
NR is the host institution for BigInsight, which is a center for research-driven innovation funded by the Research Council of Norway and various industry partners, including DNB and Gjensidige. We harness our research in machine learning and statistical modelling to solve various problems for industry partners. Often, our research results in academic contributions.
According to a report by PA Consulting on behalf of The Finance Sector Union of Norway (Finansforbundet), methodological competence that provides sufficient explainability of applied solutions in AI will be crucial for applications in the financial sector. XAI is therefore an important and prioritised focus area in ongoing research.
In recent years, NR has dedicated significant research efforts on XAI, and we are at the forefront of international research in the area. We have extensive knowledge about the most widely applied methods: LIME, Shapley values and counterfactual explanations, and developed software tied to the latter methods. In addition, we have developed the decision tree toolkit, eXplego, which will assist developers in selecting appropriate methods of explanation for their projects.
Several of our clients already utilise XAI to understand why AI methods yield certain results and ensure that potential end-users are treated fairly. We welcome new clients who need assistance in the area.