Industry leaders and experts weighed in on how the transformative power of Artificial Intelligence (AI) can shape the nation’s future during the Manila Tech Summit 2024. During a panel on balancing consumer and creditor protection, General Manager of Tala Philippines, Mr.
Industry leaders and experts weighed in on how the transformative power of Artificial Intelligence can shape the nation’s future during the Manila Tech Summit 2024.
During the panel discussion, Mr. Gastl expressed the need for more transparency in the use of emerging technologies, specifically AI and Machine Learning, especially when it comes to customers, the industry as well as with regulators. Tala, the world’s first financial platform for the Global Majority, provides customers with flexible and convenient online credit. Tala’s mobile application where all its transactions take place—from loan application and approval to disbursement and repayment—harnesses next-generation technology like alternative data to assess creditworthiness, enabling customers without a traditional credit history to access loans.
Gastl also expounded on the importance of ensuring utmost fairness, transparency and data privacy in AI-driven lending practices, acknowledging the challenges regulators and private companies face in the digital lending landscape.
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