03 July 2024
It’s not the technology but how you use it: four ways AI will transform the credit industry
With so much talk of how generative AI is set to make an impact across industries, it is easy to understand why some will take these promises with a pinch of salt. The noise surrounding AI and its potential can be deafening, as firms adopt the badge to bolster their marketing efforts, making it difficult to separate hype from reality. However, when applied thoughtfully and to a well-defined problem, AI has the potential to transform the credit and loans industry by revolutionising how it reads, comprehends and summarizes vast swathes of data.
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