After decades in development, artificial intelligence technology has entered the mainstream and is advancing at a lightning pace. This presentation will first provide a brief introduction to artificial intelligence and the potential uses of AI in the credit department. The speaker will then discuss the risks created by the fast-paced AI environment, the importance of AI policies and procedures, and how to create AI policies and procedures that are actionable and operational. The speaker will also discuss various generative and analytical AI tools, provide real-world examples of using AI in the credit decisioning and collection processes, and discuss practical risks and pitfalls of AI. The speaker will finally discuss regulatory considerations and other AI-related law implicating credit decisions that rely on AI, and how AI can both help detect fraud and increase opportunities for fraud in the credit industry.

Speakers: