Meaning ● AI-Powered Lending represents the utilization of artificial intelligence technologies – including machine learning algorithms and natural language processing – to automate and enhance various stages of the lending process for Small and Medium-sized Businesses (SMBs). This application aims to streamline credit assessment, improve risk management, and accelerate loan approval timelines, enabling SMBs to access capital more efficiently. Implementing AI in lending offers SMBs a pathway to improved access to funding, potentially fueling business growth and expansion. Moreover, this technology assists lenders in making more informed decisions, reducing default rates, and ultimately supporting a more robust SMB ecosystem.
