On May 11, Brian Jackiw and Jason Torf were quoted in two articles in the National Association of Credit Management’s (NACM) eNEWS publication.

In “Commercial Bankruptcy Surge Expected to Continue,” Brian commented that bankruptcies will continue to increase, over what the industry saw in 2021 and 2022.

“It’s not a tidal wave by any means, but the increases in bankruptcies will continue,” Brian noted.

In “Artificial Intelligence Used in Credit and Collections Processes: Risk vs. Reward,” Jason commented on the fact that the credit industry depends heavily on human interaction and the risks of using AI as opposed to the human mind.

“If AI algorithms aren’t programmed quite right, you run the risk of missing key parts that a human would be able to detect in order to allow you to collect more easily down the road if a customer defaults,” Jason said. “It impacts a company’s ability to recover and collect if there’s a customer default due to faulty terms and conditions that could be avoided if done from a human mind.

Read both eNEWS articles on the NACM website here.