After making headlines throughout 2023, artificial intelligence looks set to remain a dominant technology theme, with many mortgage professionals looking at how to make it work for them this year.
But new technology trends also cause disruption, particularly when they lead to potential job loss. And the rise of generative AI continues to raise as many questions as it does answers regarding accuracy and fairness.
While opinions about where AI tools fit across the financial services landscape vary depending on the industry, common themes are also emerging over the benefits and risks, according to a report released this week by Arizent, parent company of National Mortgage News. In the research, Arizent surveyed professionals across eight different financial segments: banking, insurance, mortgage, wealth management, municipal bonds, accounting and technology.
Comments from mortgage respondents ran the gamut from “I don’t see AI as being for the greater good” to “The uses for AI in the industry are infinite.”
Here are a few findings from the survey results looking at how mortgage businesses are approaching the growth of AI.
Source: nationalmortgagenews.com