AI Roadblocks

Amita: Beyond the budget and “fear of the unknown,” what are the top hurdles credit unions face when jumping into the AI world?

Jose: One significant concern is ‘Implementation’, which includes the staffing resources required and the time needed to successfully launch the technology. For example, a credit union with limited staff may worry about how many team members will be tied up during the rollout and how long the process will take. 

‘Integration’ is another critical challenge, as the new technology needs to seamlessly connect with existing core systems and banking platforms. This raises questions about compatibility and additional expenses related to subscriptions, integration, and creating a centralized communication hub. 

‘Training’ also presents a substantial hurdle. Effective use of AI and automation may require specialized training, and credit unions need to invest time to teach the AI about their unique processes, policies, and member expectations. There’s often concern about the time it takes for AI to become operational and useful, leading some to wonder, “How quickly can my staff and the AI be up to speed, and will there be ongoing training requirements as the technology evolves?”

Also, Once the AI is trained, we need to consider ‘Oversight’. Is the AI going to operate independently, or will there be security protocols and limits on what it can do? Will it continue to evolve as we do, especially since regulations will change? 

Finally, ‘Vendor change management, Long-term maintenance, and Regulations’ are other critical considerations. If an AI is highly customized to a credit union’s needs, organizations worry about how secure and flexible it will be if vendor relationships change or if internal staff overseeing the AI leave the organization. For instance, if an individual who was tied to the project leaves the organization, is that knowledge easily transferable to others, or do they have to start from scratch? Additionally, How easy would it be to teach the AI new information once it’s established and operational? If we need to change something due to regulatory updates, how easy is it to update the AI without a massive operational lift?

All of these factors contribute to a complex decision-making process, where credit unions must weigh the long-term benefits of AI against the practical challenges of implementation, training, and maintenance. 

Feel the AI Waters, Then Take the Plunge 

Amita: How can credit unions get past the fear of AI and start using it to their advantage without feeling overwhelmed?

Jose: It’s natural to feel a bit fearful about new technology—some people are excited, while others worry about the change. The AI agents are no longer the old chatbot-sounding voice, AI voices can sound very much like someone you know and people often don’t know if they’re speaking to an AI or a human. I get fraudulent AI calls about three times a week, which makes me wonder how my organization is going to leverage it. So, there’s definitely a fear factor – especially if you take your information from social media where every time you hear AI, it’s a big NEGATIVE – it’s something being used to defraud people rather than help them.

Our job as builders or leaders in the space is to focus on the positive impacts these technologies can bring, rather than allowing social media or outside perspectives to overshadow them. 

The reality is that the industry is moving forward, and we need to embrace it. So, it’s a bit like testing the waters versus jumping in. For those who are hesitant, they don’t have to dive in all at once. They can start small, test the waters, and consult peers who are already using AI. 

See how early adopters handle obstacles and make adjustments before fully committing. This way, as more credit unions embrace AI, it helps spread insights and builds confidence across the industry.

From Skepticism to Success: Building Trust in AI 

Amita: What are the best ways for credit unions to turn member skepticism into trust when using AI?

Jose: The goal is to educate and create clarity, helping people understand how this technology works and reassuring them of its purpose: to enhance their experience and offer meaningful support moving forward.

A credit union can start by making sure that they have the buy-in from their membership, followed by clearly communicating the efficiencies they want to achieve through AI – that is to better serve them or ensure that their information is secure. You know, simply because it’s AI technology doesn’t mean your information is floating in the abyss of cyberspace, it’s still secure with the credit union.

Also, since Generative AI can be used in both inbound and outbound interactions, and it’s essential to address the fear around outbound AI specifically, as many people might associate all AI with potential risks like fraud. It’s easy for these tools to feel indistinguishable — one might seem like a threat, while another is genuinely there to assist.

When members see that their credit union is implementing that much amount of care and using technology to provide better service, it creates a positive sentiment. They recognize the effort and care that goes into leveraging technology for their benefit. 

So, ultimately it all comes down to ‘Building Awareness’.