Artificial Intelligence: The landscape, challenges and opportunities for credit unions

This paper explores the evolving implications of AI for credit unions across Great Britain and Ireland. The author is David Fagleman of Enryo Consulting, commissioned by Swoboda Research Centre. Here, David examines how AI can benefit credit unions through enhancing operational efficiency, improving fraud detection, and personalising member engagement all while also addressing key challenges AI could present, such as data bias, security risks, and impact on stakeholders. David highlights the importance of strong governance, human oversight, and collaboration within the sector.

Drawing on desk-based research and stakeholder interviews, this report provides strategic guidance to help credit unions navigate the rapidly changing AI landscape and harness its potential to drive innovation while mitigating risks.