Can AI uplift entrepreneurs that traditional banks reject? | Mercedes Bidart

This TED Talks Daily episode, hosted by Elise Hu, features Mercedes Bidart discussing how AI tools are transforming finance for small business owners in Latin America. Bidart shares her personal connection to the issue, growing up in a family of small business owners and witnessing the challenges they faced in accessing capital. She explains how her work in informal settlements in Colombia revealed the importance of trust as a currency and how AI can measure this trust to provide fairer access to loans. Bidart details the AI-powered models she developed, which analyze data from text messages, videos, and social media to assess creditworthiness, enabling personalized financial services for entrepreneurs who lack traditional financial histories. The goal is to change how these entrepreneurs are seen by the financial system, allowing them to access loans and grow their businesses.