Can AI uplift entrepreneurs that traditional banks reject? | Mercedes Bidart
Impact entrepreneur Mercedes Bidart explains how informal entrepreneurs across Latin America are highly trusted within their communities yet are excluded from formal banking because they lack conventional financial records. She describes an AI-driven approach that transforms alternative data from phones, telecom records, videos, and social media into financial identities and risk scores, enabling micro-business owners to access fair, tailored credit instead of relying on violent, predatory lenders. Over three years, these models have reached market-level accuracy and helped tens of thousands of entrepreneurs gain access to formal loans, illustrating how AI can make finance more inclusive when designed intentionally.
Sunday Pick: Mexico City | Far Flung
TED Talks Daily shares an episode of the TED Audio Collective podcast Far Flung, hosted by Salim Reshemwala, that explores how Mexico City channels the creativity of its 21 million residents. Through interviews with pedestrian activist-turned-public-servant Jorge Canes (a.k.a. Peatonito) and former head of the Laboratorio para la Ciudad, Gabriela Gomez-Mont, the episode shows how citizens and government collaborate to improve pedestrian safety, map chaotic bus routes, crowdsource a city constitution, and create play streets for children. The conversation highlights how viewing crowds as sources of imagination and talent can transform a megalopolis' approach to governance and public space.