The AI rulebook: Smarter use starts with smarter policies

Artificial intelligence (AI) has transformed how the world operates, integrating itself into nearly every facet of business. For credit departments, AI is being used to enhance email communication, draft demand letters, review contracts and even predict collection trends. 

Despite its rapid advancement, AI presents significant challenges, particularly regarding accuracy and reliability of information and data privacy and security. Implementing clear, refined policies and procedures within the credit department can help mitigate these concerns and ensure AI is applied ethically and effectively. 

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