ChatGPT for Credit Professionals

ChatGPT NACM Emagia

ChatGPT Introduction

  • AI Bot developed by OpenAI
  • Conversational Generative AI
  • Launched in Nov 30,2022
  • 100 million users by Jan 30,2023
  • Available in Freemium Model

Use Cases for Chat GPT for Credit

Credit Risk Assessment

  • Gather relevant information and perform initial assessments of credit risk.
  • They can input key data points about a borrower or company to get analysis of the creditworthiness and potential risks associated with the entity.

Financial Statement Analysis

  • Simulate and analyze different scenarios to assess the potential impact on credit portfolios.
  • By inputting various parameters, and explore potential outcomes and make informed decisions regarding credit exposures.

Credit Policy Guidance

  • Provides guidance on credit policies, risk appetite, and underwriting criteria.
  • Discusses specific scenarios, credit approval processes, risk mitigation strategies, and adherence to regulatory guidelines, helping us make informed decisions and ensure consistent credit policies across the organization.
  • Customer Assistance

    • Serves as a virtual assistant for credit professionals, addressing common customer inquiries and providing information about credit products, terms, and application processes.
    • Can assist in answering frequently asked questions, guiding customers through the credit application process, and helping them understand credit terms and conditions.

    Market and Industry Research

  • Gather real-time market insights and industry trends that may impact credit decisions.
  • Explore economic indicators, regulatory changes, competitive landscape, and other factors affecting credit risk, and stay informed and make data-driven credit decisions.

Suggested Resources

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