In this episode of Credit Shift, Mark Oppermann and Graham Bragg discuss the future of AI in digital debt collection, focusing on the advancements expected by 2025. They explore the lessons learned from 2024, the role of AI in enhancing customer experience, and the importance of understanding AI's capabilities and limitations.

The conversation also delves into the impact of conversational summaries and co-pilots, navigating compliance and vulnerability detection, and the overall future of AI in the industry.

This episode refers to the webinar that goes into more detail on AI and Digital Debt Collection in 2025.

To Watch Webinar On-Demand

https://www.webio.com/webinar/winning-in-2025-ai-digital-debt-collection-strategies-that-work

Takeaways

• The use of custom language models is essential in debt collection.
• AI can significantly increase the number of conversations handled by agents.
• AI will enhance sentiment analysis in conversations.
• Customers prefer digital channels when interactions are well-designed, leading to higher engagement & better payment outcomes.
• The focus should be on improving customer experience through AI.
• Automation will lead to more personalised customer journeys.
• AI is not a replacement for agents but a tool to assist them.
• Understanding AI's limitations is crucial for effective implementation.
• Conversational summaries will improve agent efficiency.
• Compliance and vulnerability detection are key concerns in AI deployment.
• Businesses should build AI in layers – start simple, measure success, and scale gradually to avoid costly mistakes.

AI, digital debt collection, digital transformation, customer experience, conversational AI, compliance, vulnerability detection, automation, sentiment analysis, technology trends