The rise of technology in commercial finance has introduced a lot of buzzwords, two of the most common being AI and automation. While they’re often used interchangeably, they’re not the same thing, and understanding the difference can help brokers make smarter decisions about how to streamline their workflows, reduce errors, and ultimately serve clients better.

Automation: Doing more with less effort

Automation is about taking repetitive, manual tasks and letting technology handle them. For brokers, this could mean:

  • Automatically populating client details in a contract template
  • Sending reminders for incomplete forms or pending signatures
  • Generating standard agreements at the click of a button

Automation doesn’t think or make decisions, it follows rules. Its value lies in speed, consistency, and error reduction, freeing brokers to focus on high-value activities like client relationships and deal structuring.

AI: Making smarter decisions

Artificial Intelligence goes a step further. AI can analyse data, identify patterns, and provide recommendations. For brokers, AI might:

  • Flag potential compliance risks in a contract before it’s sent
  • Predict which clients are most likely to respond to a proposal
  • Suggest tailored products or loan options based on client history and market data

In short, AI learns and adapts, offering insights that go beyond simply executing repetitive tasks.

How brokers can benefit

Understanding the distinction between AI and automation helps brokers deploy the right tools for the right tasks:

  • Use automation for efficiency: standard contracts, eSignatures, document assembly, and task reminders.
  • Use AI for intelligence: client insights, risk assessment, forecasting, and decision support.

Combined, AI and automation can transform a brokerage’s workflow, reducing admin, speeding up processes, and supporting smarter decision-making.

Final thoughts

Technology is no longer optional in commercial finance. But knowing when to automate and when to leverage AI can make the difference between a brokerage that’s simply faster and one that’s smarter. Embracing both allows brokers to provide a more efficient, compliant, and client-focused service.

With tools like Doc2, brokers can start with powerful automation today and explore AI-driven insights as their business grows, keeping them competitive in an increasingly digital industry.

Discover how Doc2 helps streamline compliance and speed up deals. NACFB Members also receive an exclusive 20% discount.