May 28 (UPI) -- Financial giant Fannie Mae said Wednesday it will launch its AI-powered unit to detect and prevent mortgage fraud in a partnership with AI software company Palantir.
"By integrating this leading AI technology, we will look across millions of datasets to detect patterns that were previously undetectable," said Fannie Mae's president and chief executive officer Priscilla Almodovar.
Fannie Mae, which holds more than $4 trillion in U.S. housing market assets, is the nation's single largest holder of outstanding residential mortgage debt.
The launch of its new artificial intelligence-powered crime detection unit with Palantir seeks to expand Fannie's ability to sniff out fraud with "leading" scientific and investigative AI-enabled tech.
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