Technological Advancements and Lending
As lenders evaluate and update their technological tools, such as borrower monitoring, AI processing, and verification tools, they are also cautious of the risks associated with IT developments.
A notable trend is the use of AI to perform household chores, with companies even paying individuals to fold laundry in front of robots to aid in their learning process.
Robots and automatic machines aren’t new, with the French being at the cutting edge 250 years ago.
Crypto Scams on the Rise
A significant concern is the increasing number of crypto scams, particularly at crypto ATMs, with Americans, including potential borrowers, losing millions to scammers.
These scams often attract individuals looking to make quick money, disregarding the harm caused to victims.
Author's summary: Lenders update tech tools amidst rising crypto scams.
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