AI – it’s the word of the moment.
And many credit unions are rushing to familiarize themselves, even to implement pilots internally.
Stop right there.
Before taking actions, listen to this podcast with Kevin Farley, vice president of experience and engagement at United Heritage Credit Union in Austin TX
Farley popped up on my radar screen with a down to earth, practical article on generative AI at the Financial Brand.
His pitch is that credit unions need to approach AI with a crawl, walk, run patience – and probably no credit unions are yet in a position to do brisk running in AI, if only because the necessary tools just aren’t ready yet.
But there is much useful a credit union can do to get comfortable crawling, then walking with AI. Farley offers suggestions about areas where tangible benefits of AI are plentiful even in the early days of use.
For now most credit unions will satisfy their curiosity playing with the free versions of ChatGPT and Google’s Bard – and do note if a month ago you thought Bard was far inferior Google has made vast improvements in that tool. Do try both.
But also know a credit union does not want to load any sensitive or personal data into either free tool. Don’t even think about it. Farley tells why in the show.
We are waiting for the new, improved paid AI tools that will take all this to the next level.
They’re coming. Get ready.