The Debt Collection Conundrum in Emerging MarketsDebt collection in emerging markets is a complex issue that affects not only the borrowers but also the broader financial ecosystem. The current methods are often considered outdated, leading to increased costs and erosion of trust between lenders and borrowers.The surge in consumer lending has raised concerns among regulators, who are now pushing for fairer practices. However, this shift has created a challenge for legacy collection outfits that struggle to adapt to new regulations and technological advancements.r A New Approach: Leveraging AI for ModernizationClearGrid, a Dubai-based startup, aims to address these challenges by introducing artificial intelligence (AI) in debt collection and recovery. By modernizing the process, ClearGrid hopes to improve outcomes and restore trust between lenders and borrowers.