Loan Officers

How AI is changing loan officers work

12 of 26 measurable main tasks for this job show up in real AI-use data, so we rate it Amber (some AI use) — 46%. 1 newer task is not in the data yet and left out.

This shows where people already use AI, not whether the job will disappear. How we measure this.

Tasks in this job and recorded AI use

• Explain to customers the different types of loans and credit options that are available, as well as the terms of those services (main task) — a lot of recorded AI use
• Counsel clients on personal and family financial problems (main task) — a lot of recorded AI use
• Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation (main task) — some recorded AI use
• Work with clients to identify their financial goals and to find ways of reaching those goals (main task) — some recorded AI use
• Assist in selection of financial award candidates using electronic databases to certify loan eligibility (main task) — some recorded AI use
• Market bank products to individuals and firms, promoting bank services that may meet customers' needs (main task) — some recorded AI use
• Analyze potential loan markets and develop referral networks to locate prospects for loans (main task) — some recorded AI use
• Inform individuals and groups about the financial assistance available to college or university students (main task) — some recorded AI use
• Talk with underwriters to resolve mortgage application problems (main task) — some recorded AI use
• Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans (main task) — some recorded AI use
• Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs (main task) — some recorded AI use
• Maintain and review account records, updating and recategorizing them according to status changes (main task) — some recorded AI use
• Meet with applicants to obtain information for loan applications and to answer questions about the process (main task) — no recorded AI use
• Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans (main task) — no recorded AI use
• Approve loans within specified limits, and refer loan applications outside those limits to management for approval (main task) — no recorded AI use
• Submit applications to credit analysts for verification and recommendation (main task) — no recorded AI use
• Review loan agreements to make sure that they are complete and accurate according to policy (main task) — no recorded AI use
• Review and update credit and loan files (main task) — no recorded AI use
• Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information (main task) — no recorded AI use
• Handle customer complaints and take appropriate action to resolve them (main task) — no recorded AI use
• Stay abreast of new types of loans and other financial services and products to better meet customers' needs (main task) — no recorded AI use
• Compute payment schedules (main task) — no recorded AI use
• Authorize or sign mail collection letters (main task) — no recorded AI use
• Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork (main task) — no recorded AI use
• Match individuals' needs and eligibility with available financial aid programs to provide informed recommendations (main task) — too new for the AI data
• Review accounts to determine write-offs for collection agencies (main task) — no recorded AI use
• Review billing for accuracy (main task) — no recorded AI use
• Supervise loan staff — no recorded AI use
• Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action — no recorded AI use
• Set credit policies, credit lines, procedures and standards in conjunction with senior managers — no recorded AI use

Tasks: O*NET 31.0. AI use: Anthropic Economic Index (exact or close text match).

Your first steps (guidance)

1. Week 1: Open a free AI assistant and say hello. Follow our “Getting started with AI” guide. Ask it one simple question about your work.
2. Week 2: Use AI on one task you do often. Try the prompt for: “Explain to customers the different types of loans and credit options that are available, as well as the terms of those services”. Try the prompt for: “Counsel clients on personal and family financial problems”.

Tick your own tasks above to get a plan based on what you really do. The first 2 weeks are free; Premium (coming soon) adds weeks 3–12. New to AI? Read our beginner’s guide.

Questions about AI and loan officers

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