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I had the opportunity to speak with Tony Zerucha at Fintech Nexus back in May regarding the legal ramifications of using AI in underwriting and the importance of explainability. In our conversation, we covered topics such as: • How recent lawsuits and subpoenas are prompting fintechs to revisit their AI strategies. • The importance of aligning AI initiatives with current and emerging regulations. • Practical steps fintech firms can take to mitigate legal risks while leveraging AI for innovation. While AI certainly has a place in lending, understanding the legal landscape is crucial for both compliance and innovation. Check out the full article here: Lawsuit, Subpoena Have Fintechs Revisiting AI https://lnkd.in/g_G6iuVW

Good data is the key to doing AI well. And good data is actually the key to doing lending well, too, so why not combine the two ideas. Can good data be the key to doing AI in lending right and increasing economic equity for underrepresented groups? (hint: it is, and Zest AI has been on the beat for a number of years now) Zest AI's Yolanda D. McGill dives into 'beating bias in credit data with #AI' in our latest blog, 'let's add some speed bumps for the bias bus': https://lnkd.in/ghQcFSev #EconomicEquity #FinTech #Lending #MachineLearning #Data #FairLending

There’s an intersection of good data and #AI that helps us mitigate bias and ensure equity in lending decisions. AI is a tool that, if used properly, can contribute consistency and transparency that can in turn increase inclusion; shackling it so it is effectively removed from the ecosystem is not a solution to bias in banking. Read more of my thoughts in the newest blog on Zest AI: https://lnkd.in/ebeHzs9w #ResponsibleAI #fairlending #betterlending 

Use of gen AI tools is growing across the financial services space. However, not all financial institutions are keen on rushing to adopt new technologies. Javelin's Dylan Lerner says there is still work to be done where end users are concerned, as institutions "are understandably being prudent while savvy fintechs are fast at work to roll out customer-facing generative AI tools." Read more in American Banker: https://lnkd.in/esW8njyq

The intersection of #AI and financial services is a hot topic. The potential for AI to revolutionize the financial services industry is immense, and it is being reflected in an endless parade of fundraise announcements, but all this AI buzz also raises important questions about the fairness, ethics, and the regulation of using AI in the provision of core financial services. Is the era of fairer AI finally here? https://buff.ly/4fs9jE1 #FinTech #FinServ #Banking

While #AI is top of mind for many credit union leaders, it’s difficult to know where or how to start. In our latest blog with NAFCU (National Association of Federally-Insured Credit Unions), we dive into how credit unions can leverage partnerships to compete with large banks during this rapidly evolving wave of AI, gaining long-term members in the process.

Discover how AI is shaping the future of the fintech industry, from enhancing security and fraud detection to providing personalised financial experiences. This article delves into the latest trends and innovations that are transforming how we interact with financial systems. Read more about how AI is driving the fintech revolution and how your business can stay ahead of the curve. #AI #Fintech #Innovation #FinancialServices #GnosisSolutions #FinTechSolutions #customsoftware #financialoperations #softwaredevelopment

🚀 Unlocking Banking Excellence with AI: Garrett Laird, Director of Decision Science at Amount, delves into the revolutionary impact of traditional AI in the financial sector. Discover how our forward-thinking approach empowers financial institutions to outshine in the competition for superior loans. 🏦💡 At Amount, we take pride in leading the charge of innovation, utilizing AI to redefine the future of banking. 💻✨ How is your organization harnessing the power of Artificial Intelligence? 💬  #BankingInnovation #AIinBanking #FinancialTechnology #FutureOfFinance

Happy to be featured in AI‐TechPark talking about Generative AI in Finaicial Services. Augment your lending team, create a better member experience and drive better onboarding practice - Shastic can help you deliver against your goal of #peoplehelpingpeople #genai #communitybanking #creditunions #consumerlending

Financial Institutions should be embracing AI, many are, but for those waiting to see what others will do first before making this important investment, we're here for you. We're all about SafeAI and having the right guidelines in place. Let us show your management, technology, operations teams what we're talking about.