Technological Advancements and Challenges
While debates on trivial matters continue, lenders are focused on eliminating outdated technology and exploring new tools, including Borrower Monitoring, AI Processing, DPA, and Verification Tools.
In the realm of AI, companies are employing individuals to perform household chores, such as folding laundry, in front of robots to facilitate their learning process.
AI companies are paying people to fold laundry in front of robots so they can learn to do household chores.
Meanwhile, the rise of crypto scams has led to significant financial losses for Americans, including potential borrowers, with scammers targeting crypto ATMs.
As technology advances, it's essential to acknowledge the potential risks and consequences, such as the prevalence of scams and the importance of verification tools.
Upcoming Events and Training
Ben Teerlink, Founder/CEO of MMI, will be interviewed on the L1 show to discuss the latest developments in the industry.
- Borrower Monitoring
- AI Processing
- DPA
- Verification Tools
Author's summary: Technological advancements bring benefits and risks.
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