Human interaction should remain at the heart of the mortgage process despite advances in AI and technology, futurist Tom Cheesewright told the audience of MIT Live 2026.

Cheesewright said technology will play an increasingly important role in the mortgage market, helping businesses speed up innovation and respond to growing complexity.

However, humanity must remain at the heart of the mortgage process, Cheesewright has warned.

Speaking about the impact of AI, Cheesewright said the technology was incredibly powerful, with implications for almost every business he worked with.

Technology was stripping friction from interactions and speeding up innovation, he said, creating opportunities for businesses to operate more efficiently and develop new capabilities.

He said: “But these benefits also bring challenges. By lowering barriers to entry, technology makes it easier for competitors to enter the market, increasing pressure on established businesses to adapt.”

“Everyone in this industry is going to need more capabilities in the next few years,” Cheesewright added, warning that the growing complexity of the business environment would require the mortgage market to become more capable.

The mortgage sector would need greater technological power to meet these demands, he added. While technology could empower businesses to navigate an increasingly complex landscape, it could also give competitors the same advantages.

As a result, firms will need to consider not only how technology can improve their own operations, but also how it is changing the wider competitive environment, he went on.

Despite the pace of technological advancement, Cheesewright stressed that human relationships must remain central to mortgage interactions.

“Do not replace human interactions with technology,” he said.