Collectors began to introduce artificial intelligence into the process of debt repayment

In May 2023, the Indian-American company Skit.AI announced a service capable of taking over the work of telephone collectors engaged in calling debtors. The neural network is a voice robot that adjusts to a conversation with users and at the same time learns to work even more efficiently with each new conversation.

According to the developers, one robot can tirelessly call millions of debtors, automatically collect and process their data, and even sue them. As conceived by the authors of the innovation, AI will directly interact with debtors through voice communication and using text messages, automate the payment request process.

Skit.AI has presented a neural network capable of taking over the work of a telephone collector

We create a customer service engine that leverages the combined power of human agents and our specially designed voice artificial intelligence technology. This leads to a number of advantages: customer satisfaction, increased agent productivity and improved business results, - said on the company's website.

Despite the promised benefits, some experts believe that the use of artificial intelligence can exacerbate existing social inequality and exacerbate poverty problems, since it will be difficult for a robot to understand which of the debtors simply does not want to fulfill their obligations and who is really in a difficult financial situation.

American Finance became the first collection agency to use the Skit.AI platform in operation. American Finance said that using AI as a collector was one of the best ideas the company implemented. Debt collection rose to an "impressive" 13.5% after the Skit.AI application began, according to American Finance^[1]

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