Human engagement is the centre of AI adoption - Kaplan

AI is no longer a futuristic concept for lenders; it is an active tool for managing credit risk and customer service. However, the success of AI in consumer financing depends entirely on your staff's ability to manage it. This report emphasizes that 'human engagement' is the missing link in financial AI adoption. For retailers and operators, this means that simply buying a tool to automate credit approvals or customer support isn't enough. You must train your team to interpret AI outputs and intervene when the technology makes errors. In the financing space, AI is being used to analyze borrower data faster than ever. But without human oversight, these systems can create 'black box' scenarios where neither the merchant nor the customer understands why a financing application was denied. By focusing on training, businesses can ensure that AI acts as an assistant rather than a replacement. This ensures your financing programs remain compliant and user-friendly. High-tech tools should empower your sales team to offer the right payment plans at the right time, rather than creating friction through automated rigidness.

Source: Finextra — Lending

← Return to the library· Submit a correction