Podcast ¦ Credit Shift: News Update AI’s Growing Influence in Credit Mortgage Trends, Buy-Now-Pay-Later Debt, and Generative AI in Financial Services

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Key Takeaways

A significant portion of homeowners prefers personal interaction over digital solutions for mortgage queries, highlighting a gap in customer experience with virtual assistants.
There has been a rise in people seeking help with Buy Now Pay Later (BNPL) debts, indicating a need for debt collection stakeholders to tread carefully amidst potential legislative changes.
Economic abuse associated with joint mortgages has emerged as a critical issue affecting a substantial number of women, necessitating greater awareness and support mechanisms in financial services.
Advances in AI from major players like Apple and Microsoft signal a transformative shift in customer interaction expectations in the financial sector.
Microsoft's integration of AI into applications like Excel presents opportunities for financial institutions to enhance data handling and analysis.
OpenAI's introduction of chain of thought reasoning in their new model suggests a...

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