Australian financial technology firms Firmus and AirTrunk have sparked fresh debate over the rapid expansion of artificial intelligence-driven lending, as their recent decisions highlight growing risks tied to unchecked borrowing fueled by AI systems. The moves come amid mounting scrutiny over whether automated credit assessments are outpacing regulatory safeguards, raising questions about transparency and long-term financial stability. Industry observers warn that the trend could exacerbate vulnerabilities in consumer lending markets if left unchecked. The developments underscore the need for closer oversight as AI reshapes traditional financial services.
Decisions by Australian groups Firmus and AirTrunk have added to concerns about the AI borrowing frenzy
