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A Guide to Implementing AI Technologies in 2022 article published in Credit Union Times

AI is trendy, but CUs can’t fall into the common trap of pursuing trendy technologies only because everyone else is using them.

The past few years have been filled with complexity and change in the banking industry, which has also triggered a shift in how credit unions use artificial intelligence. We have witnessed an incremental increase in the use of AI in all aspects of banking, as it can reduce labor costs, increase efficiency and productivity, and help credit unions provide better service for their members. Traditionally, credit unions only leveraged AI to automate routine internal processes, like compliance, underwriting or fraud detection, but recent technological developments have led to AI now also being used for front-office purposes, like member service.

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