Black wealth matters and AI can help create it. Here’s how:
The protests sparked by George Floyd’s death have led to a focus on institutional racism and inequality that we’ve rarely, if ever, seen in corporate America. Business leaders are paying attention to race, which presents an unprecedented opportunity for change.
As a finance executive and entrepreneur, I’ve asked myself what role financial institutions should play at a moment like this. Beyond the obligatory statements of solidarity that #BlackLivesMatter, what can consumer lenders do to close theI’ll tell you: lenders can update the methods they use to determine who gets access to credit and who doesn’t. Here’s how.
Credit access is essential for wealth creation and upward mobility. The ability to get a home, auto, or business loan is a touchstone of financial growth and stability—and access to that touchstone rests on your personal creditworthiness as determined by a lender.
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