In the last blog, I started discussing artificial intelligence. There is no denying that artificial intelligence is fast becoming an integral part of our lives, driven by unprecedented technological advancements. However, as we embrace the benefits of AI, is it fair to assume that all is good with embracing technology? I had said that it would need another blog to discuss that. So here it is.

In the microfinance business, where empathy is as important as financial transactions, there is a growing concern that we are gradually losing the human touch. We must balance technological innovation and preserving our innate human connections. And that is where the problems lie. It is not with the technology or the processes; it may be with the basic nature of humanity where we tend to take the easier route instead of traversing the difficult path. For example, shall we still physically meet a person in distress or settle for a simple dry telephone call?

Our ability to form emotional bonds and connections with our customers sets us apart, enabling us to handhold them in their journey of climbing the financial pyramid. Whether it's a heart-to-heart conversation, a compassionate gesture, or a simple touching word, these interactions create profound experiences and foster a sense of belonging. Contrary to how AI operates, the human touch goes beyond logic and efficiency; it encompasses empathy, understanding, and the ability to provide comfort and support during tough times.

What concerns me is the risk of dehumanization, which may lead to the erosion of interpersonal relationships between us and our customers. I will need to ensure that there is no lack of emotional intelligence that plays a vital role in our customer care. After all, despite its sophistication, AI cannot truly understand and reciprocate human emotions.

We must keep encouraging more face-to-face interactions, promoting empathy and emotional intelligence, and fostering genuine human connections that will counter the potential negative impacts of excessive AI reliance. Investing in human-centric education and training is essential. Educating our team about the importance of human connection by cultivating social skills will help us mitigate the risks of low human interactions.

Another important part is the ethical considerations of the development of AI-based systems. Priority should be given to algorithms that respect privacy, maintain data security, and uphold human values. By embedding ethical guidelines into AI, we can ensure they remain human-centric and align with our moral compass.

We should carefully focus on developing AI systems that augment human capabilities rather than replace them entirely. AI is supposed to work alongside humans so that we can leverage the strengths of both, ensuring a balance between efficiency and emotional connection.