Technological Advancements and Challenges
Lenders are continually evaluating and updating their technology, eliminating outdated tools and incorporating new ones, such as borrower monitoring, AI processing, and verification tools.
Meanwhile, AI companies are exploring ways to teach robots to perform household chores, including folding laundry, in an effort to advance their capabilities.
Robots and automatic machines aren’t new (the French were cutting edge 250 years ago).
However, the rise of technology also brings new challenges, such as crypto scams, which have resulted in significant financial losses for Americans, including potential borrowers.
Crypto scams have attracted individuals seeking to make money, often disregarding the harm caused to victims.
Upcoming Events and Training
Ben Teerlink, Founder/CEO of MMI, will be interviewed on the L1 show to discuss the latest developments in technology and lending.
Author's summary: Technology advances, but scams persist.
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