The Intermediary – March 2025 - Flipbook - Page 81
T E C H N O L O GY
Opinion
Using AI as a
BDM – am I lazy?
I
n short, the answer to the
titular question is yes. But
let’s dig a lile deeper into that
answer. The formalisation
of banking began in Ancient
Babylon, around 2000 BCE,
with lending practices evolving ever
since. Throughout the Middle Ages,
financial systems developed further,
eventually leading to the introduction
of credit cards and ATMs in the
1950s and ’60s. Modern banking has
continuously adapted to technological
advancements, always striving to
improve efficiency in how money is
spent, lent, and borrowed.
Artificial intelligence (AI) is the
latest innovation in this long history
of financial evolution. Whether we
like it or not, AI makes our lives easier
and improves productivity. As the
old saying goes, “Give a lazy person
a difficult job, and they will find an
easier way to do it.”
Business development
As a business development manager
(BDM), I know that relationships are
at the heart of my role. No AI tool
(yet) can replace the human touch
required to negotiate, understand,
and execute deals – especially in
development finance, where every
project comes with its own unique set
of complexities.
Admiedly, I was – and to an
extent, still am – sceptical about AI.
I’m not particularly tech-savvy, and
I keep my distance from my everdemanding iPhone whenever possible.
However, my perspective has started
to shi. It all began with a 51-page
valuation report.
AI in action
A deal landed on my desk on a
particularly hectic day – one of those
where an influx of enquiries arrived,
varying widely in quality, as any BDM
will appreciate. One enquiry, however,
stood out: a strong project that had
already broken ground with another
lender. It came with the added benefit
of a valuation report and an interim
monitoring report – both crucial to
my initial appraisal.
Rather than painstakingly reading
51 pages of surveying jargon, I turned
to AI. By uploading the report and
asking for a summary, I instantly
received the key points. Even beer, I
could ask specific questions to extract
WILL CALITO
is sales executive
at Magnet Capital
AI didn’t make
the decision for me,
but it provided the
clarity I needed to move
efficiently”
the most relevant details, saving
valuable time and effort.
More recently, I encountered
another enquiry – this time with some
tricky legal and title complexities. The
clients were under pressure, as their
original lender had pulled funding at
the last moment, and they needed an
urgent decision.
Before escalating the maer to our
legal team, I used ChatGPT to break
down the issue, assess its severity,
explore potential solutions, and
identify any risks.
Once I was confident that, with
some flexibility, we could proceed
with funding, I took the case to our
underwriting team for a quick yes or
no. AI didn’t make the decision for me,
but it provided the clarity I needed to
move efficiently.
So, is using AI lazy?
AI provides an opportunity to enhance personal service
‘Lazy’ is probably not the right word.
As a BDM, I’ll take any opportunity
to enhance the service I provide to
brokers and clients.
AI allows me to work smarter, not
harder. It helps cut through the noise,
streamline processes, and ultimately
make beer-informed decisions.
No, ChatGPT didn’t write
this article – but it did check for
spelling mistakes. ●
March 2025 | The Intermediary
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