SINGAPORE (Reuters) -Thailand’s second largest lender Kasikornbank is leaning on artificial intelligence and prudent lending to navigate economic headwinds and fraud risks, its chief executive Kattiya Indaravijaya told Reuters on Thursday.

The lender expects AI to have a “meaningful impact” on productivity improvement within two years, she said, adding that the bank is still at the early stages of getting every unit to adopt it.

For instance, she expects AI to help with the more obvious credit approval decisions, freeing up underwriters to work on applications that are less certain.

Kattiya said the bank has had to be more prudent when it comes to lending, with economic conditions in Thailand still sluggish.

She noted that the nation’s GDP is expected to grow by less than 2% per year o

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