As credit unions embrace the transformative power of Artificial Intelligence (AI) and Large Language Models (LLMs), it becomes essential to construct robust AI policies. The following brief will delve into the realm of AI policy, uncovering the top five critical considerations for credit unions.
As the use of digital channels continues to grow for credit unions, conversational artificial intelligence (AI) technologies provide an opportunity for improved service delivery and the potential for new service offerings such as financial advice.
How can credit unions differentiate on trust? This report reviews a key area where trust is increasingly at a premium: the use of consumers’ data in algorithmic credit scoring. With this change comes new questions and concerns, especially about the potential for bias and discrimination in algorithmic underwriting.
Many credit unions already use AI-based technology, and that number is growing. This report provides an introduction for credit unions wanting to better understand AI and the ethical and legal concerns that arise from its use.
As credit unions embrace the transformative power of Artificial Intelligence (AI) and Large Language Models (LLMs), it becomes essential to construct robust AI policies. The following brief will delve into the realm of AI policy, uncovering the top five critical considerations for credit unions.
As the use of digital channels continues to grow for credit unions, conversational artificial intelligence (AI) technologies provide an opportunity for improved service delivery and the potential for new service offerings such as financial advice.
How can credit unions differentiate on trust? This report reviews a key area where trust is increasingly at a premium: the use of consumers’ data in algorithmic credit scoring. With this change comes new questions and concerns, especially about the potential for bias and discrimination in algorithmic underwriting.
New AI tools are poised to help credit unions better serve member needs, transform credit and risk underwriting, and increase operational efficiencies, but do they live up to the hype?
