Quality Equipment Finance, based in Carmel, Ind., has boosted efficiency by an estimated 30% by accelerating internal processes and maximizing data with AI tools, Managing Director Paul Fogle told Equipment Finance News. The lender uses AI for data ingestion, data analysis, credit adjudication and fraud prevention, including using LLMs to populate data into Salesforce and AI to analyze credit reports and bank statements. AI-driven data analysis aids portfolio management by evaluating “thousands and thousands of data points” to identify patterns in deals. For credit adjudication, AI helps digest borrower information for faster funding decisions, while fraud prevention tools catch suspicious activities and reduce risk analysis time. AI also streamlines sales by extracting comps data such as mileage, hours, retail prices and auction values. Quality’s third-party AI vendors include underwriting platform Kaaj.ai and data solutions provider Tamarack Technology. The global market for AI in lending is projected to hit $37.3 billion by 2030, up from $11.6 billion in 2025, according to a report by the Business Research Company.