Loan officer
Reviews and approves or recommends loans for businesses, real estate, or credit, and advises borrowers about their finances and repayment.
Will AI replace loan officer jobs?
AI changes jobs more often than it replaces them. How much AI can help with this work: High. More AI overlap than 79 in 100 jobs. AI can help with many tasks. The job is changing fast, and people who use AI well will lead it. 19% of this job’s working time is already spent on tasks people bring to AI at work (Anthropic Economic Index). Based on Microsoft research on real AI use at work, matched to the tasks of each job in O*NET.
What AI already helps with
- Handle customer complaints and fix them
- Promote bank products and services to people and businesses
- Explain loan and credit choices and their terms to customers
What stays human
- Meet with applicants to collect information and answer questions about loans
- Study applicants' finances, credit, and property values to decide on loans
- Approve loans within set limits and send larger ones to management
10-year outlook · USA
Expected change in the number of these jobs by 2035: +1.1%. Typical pay: $76,690 a year. US Bureau of Labor Statistics. German figures differ, but the direction is usually similar.
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