Algo-based MSME lending: How AI can make credit assessment more inclusive, accurate, efficient

The financial landscape has witnessed a significant transformation with the adoption of artificial intelligence (AI) in credit assessments. This shift aims to make credit more accessible, especially for small businesses and everyday borrowers who have traditionally faced barriers to financing. However, integrating AI into credit assessment processes poses challenges, including concerns about transparency, fairness, and the need to prevent unfair influencing lending decisions.