IS ARTIFICIAL INTELLIGENCE THE FUTURE OF DEBT COLLECTION? -- Lateral

#artificialintelligence 

AI can be utilised in many different ways when pursuing debt collection. Firstly, software engineered by LATERAL can harness predictive data and analytics to pre-empt debt delinquency by generating actions based on a customer's previous behaviour. Businesses can rely on AI to monitor, provide alerts and even automate responses when there are changes to any key data elements that constitute a customer's risk profile. Using statistical analysis of the historical data of those owing debt, AI can predict the most effective way to ensure a future response from those customers and contact them accordingly – may it be by SMS, WhatsApp, email or Chat. Actions are simplified, automated and personalised.