Type of Job:

White collar
Generative AI will likely automate or change many white-collar jobs, especially high-paying ones. This could reshape tasks and roles, leading to new job dynamics.

What Constitutes Artificial intelligence (AI)?

Artificial Intelligence (AI) is a technology that allows systems, whether software or machine-based, to autonomously make predictions, recommendations, or decisions that impact both real and virtual environments without the need for constant human guidance or intervention.

Sources

Author:

Juan D. Montoya

Juan D. Montoya

Economist and AI researcher.

Will Loan Interviewers and Clerks be replaced by AI & Robots?

Loan Interviewers and Clerks risk of being automated:

High

This job is highly likely to be substantially automated within the next 20 years, placing it in the upper quartile for automation probability among occupations.

Current Degree of Automation:

49
(1-100)

Source

Key findings

In the future, GenAI is poised to revolutionize the role of Loan Interviewers and Clerks.

AI will streamline tasks such as data entry, scheduling, and regulatory compliance checks, enhancing efficiency and reducing errors.

It can assist in analyzing market trends, automating routine processes like number crunching, and even aiding in decision-making through data summarization.

This technology will augment skills like critical thinking, judgment, and complex problem solving, enabling professionals to focus on more strategic aspects of their work.

As GenAI continues to advance, it will undoubtedly reshape the landscape of white-collar professions, offering new opportunities for growth and innovation.

How could AI or automation replace or complement job activities?

Artificial intelligence, like Chatgpt, could automate tasks such as verifying loan application information, assembling closing documents, recording loan data, contacting customers, maintaining records, checking credit references, and preparing loan applications.

For example, AI could streamline the loan application process by automatically compiling documents and analyzing financial data for Loan Interviewers and Clerks.

Job description

Interviews loan applicants to gather information, checks their backgrounds and contacts references. Prepares loan request documents and sends them to the appraisal department. Reviews loan papers for accuracy and facilitates transactions between the loan establishment, borrowers, and sellers once the loan is approved.

Consequence of Making Errors

36

(1-100)

Moderately serious Source
In finance, loan interviewers' errors are moderately serious, but this doesn't impact the likelihood of their job being automated.

How Repetitive is the Job?

83

(1-100)

Extremely important Source
Jobs like Loan Interviewers and Clerks, which involve repetitive tasks, are at higher risk of automation. However, automation usually targets specific tasks, not entire roles, leaving room for new responsibilities.
Average Anual salary USD$
$46,740
Number of profesionals in USA
125,000

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Do you think Loan Interviewers and Clerks will be replaced by AI?

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