Final WCUC morning session explores impact of AI on credit unions

Financial services are being forever and irrevocably disrupted due to artificial intelligence—and credit unions will never be the same because of it.

That is the message Dr. Ayesha Khanna, Co-Founder and CEO of ADDO AI, an artificial intelligence (AI) solutions firm and incubator, delivered during her Wednesday morning keynote presentation at the 2021 Virtual World Credit Union Conference.

Dr. Khanna said AI can allow credit unions to serve hundreds of thousands of unbanked people through alternative credit risk modeling, improve their compliance and governance models, and provide better security to members.

“It can be a member of your team and it can help you make informed decisions; it can help automate processes that are grunt work and you didn’t want to do anyway,” said Dr. Khanna. “You should really think of AI as, not a competitor to the task, but as a little personal assistant. If that’s the perspective you have, then you can stand on the shoulders of machines.”

 

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