Technological Advancements and Lending
Lenders are continually updating their technology, eliminating outdated tools and exploring new ones, such as Borrower Monitoring, AI Processing, DPA, and Verification Tools.
Meanwhile, AI companies are teaching robots to perform household chores by paying people to fold laundry in front of them, aiming to enhance their learning capabilities.
It’s disappointing that we may never see a robot get tangled in a fitted sheet.
History of Automation
Robots and automatic machines have been around for centuries, with the French being at the forefront of innovation 250 years ago.
Crypto Scams
A significant concern in the IT world is the rise of crypto scams, which have led to Americans, including potential borrowers, losing millions at crypto ATMs.
Crypto scams have attracted individuals seeking to make money, often disregarding the harm caused to victims.
Author's summary: Lenders update technology while AI and crypto scams evolve.
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