The equipment finance industry is turning toward developing technology like AI to bolster operations and reduce costs, and investment in relevant technology should see an increase in 2024.

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AI and automation were at the forefront of the world in 2023, and the equipment finance industry joined in with discussing and experimenting with the technologies.

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Equipment finance software company Tamarack Technology and equipment finance consulting firm Rinaldi Advisory Services are combining resources and expertise to deliver better data systems and insights to equipment leasing companies.

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I asked Professor Manjeet Rege, Chair of Software and Data Science at the University of St. Thomas, about the emergence of AI as a modern technology and its practical application in both industry-at-large and the finance ecosystem specifically.

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