Changing Fair Lending Regulations: The Role of Data and AI Webinar Poll Results

 HEXANIKA hosted several webinars around Fair Lending. Over 1400+ financial executives registered and actively participated. The following topics were discussed in our last webinar ‘Changing Fair Lending Regulations: The Role of Data and AI’.
  1. 1071-Dodd Frank Act
  2. Benefits of Using AI in Fair Lending
  3. Risk and Rewards of AI for Lenders
  4. Use of Alternative Data
  5. Regulator’s Perspectives on AI
  6. How Firms Can Be Prepared

We conducted a poll in the webinar to understand the audience’s point of view. Following are the poll results:

Poll 2

In the webinar, we asked our audience, “How much do you know about 1071 amendment of the Dodd Frank Act?” The results were rather surprising: only 4.7% of them know everything about Acr, 50% of people said they have no idea about it.

The last question of the webinar poll was  “Are you using AI in the current lending process?” The results were as expected, only 11.7% of the people said yes they use it sometimes and 45% people said No.  11.7% people are planning to use it in the future.

We will hold a wrap-up session at the end of the year, as well as bring in a very interesting topic that we have been asked to address, which is about regulator response, supervision, and examinations, & how to prepare!

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