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Link: Credit Shift
The credit and collections industry has been slower to adopt new technologies compared to other financial services sectors. There are fears around new technologies like AI, especially around media exposure, regulation and job losses. However, AI can be used as an assistive technology to improve productivity if the underlying data infrastructure and governance are improved. The key is to focus on capturing and structuring data to enable the use of new techniques.
Key Points
The credit and collections industry has been slower to adopt new technologies compared to other financial services sectorsThere are fears around new technologies like AI around media exposure, regulation and job lossesAI can be used as an assistive technology to improve productivityImproving the underlying data infrastructure and governance is important to enable effective AI adoptionFocusing on capturing and structuring data is key ...
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