> Remember LendingClub which was a money lending business that touted it's machine learning KYC & AML process would automate the overhead but what happened was it just let a ton of people with non existent credit to grab money...that they will never pay back.

Last I checked, Lending club still had strong returns, even after their fees, for investors (though somewhat less attractive then the figures would suggest since it is taxable as personal income rather than capital gains), and a sub-5% default rate. This characterization seems to be pure fantasy.