Technology and Lending: A Changing Landscape
As lenders continue to evaluate and update their technology, AI companies are exploring new ways to teach robots to perform household chores. Meanwhile, the rise of crypto scams is causing significant financial losses for Americans, including potential borrowers.
- Borrower monitoring and verification tools are being reviewed and updated.
- AI processing is being used to teach robots to do household chores, such as folding laundry.
- Crypto scams are on the rise, with millions of dollars being lost to scammers at crypto ATMs.
It’s disappointing that we may never see a robot get tangled in a fitted sheet.
Robots and automatic machines have been around for centuries, with the French being at the forefront of innovation 250 years ago. However, the current landscape is marked by both progress and pitfalls, including the risk of scams and financial losses.
Author's summary: Lenders update tech as AI and crypto scams rise.