A Direct Line Blog

By Donya Parrish, MCU VP Risk Management

If you use a computer every day, you may have noticed that many programs and websites have added an artificial intelligence (AI) feature. Judging by the reaction I have seen with industry colleagues and friends when AI is discussed, many are afraid of it without knowing what it is and how it can actually improve our work functions. I get it — change is hard!

There is fear of AI being used to make fraud detection more difficult. That is a fair concern. Did you know that many credit unions are already using an AI software to assist in tracking member activity for suspicious trends and activity? It can be a useful tool when used for the right goals.

The Discovery2024 Conference last week had an excellent session Embracing AI: demystifying digital transformation for credit unions. It didn’t just talk about some real examples of where credit unions are finding success in embracing AI, but also noted some common sense ways to get started. You can access that session on-demand by registering here.

TruStage not only provided a thought-provoking virtual conference, but also has timely topics on Emerging Risks available. This one on Disruptive Technologies talks about AI and other technologies and why credit unions should consider looking at them and not just avoid the way business may be changing.

Am I personally getting on board with AI? Well, not quite. I did use Read AI for a training session I did this week to get some coaching on how to improve my speaking and the overall session. It told me that I started the meeting on time — great! The review said my speaking speed was just right — wonderful! Then, it noted that the audience was only 62% engaged and the effectiveness of the session was below 70% — gut punch! But, my ego can recover and I now have tools to use to be better next time. After all, isn’t that what we all want in serving our members tomorrow and beyond?