AI tech entrepreneur takes board seat
Rocket Companies has ramped up its artificial intelligence efforts with the addition of AI expert Alex Rampell (pictured) to its board of directors.
With a career that includes the founding of several financial technology companies and a keen interest in the responsible application of AI in financial services, Rampell joins the board alongside Varun Krishna, CEO of Rocket Companies.
Under their leadership, Rocket aims to capitalize on its data and AI capabilities to transform the homebuying experience. Rocket said it has used AI to generate roughly 3.7 billion customer interactions and decisions in the past year.
“Alex possesses a rare and remarkable perspective on the intersection of technology, finance and emerging trends. For nearly three decades, he has been creating tech products that simplify the payments and financial processes for several large companies,” Rocket chairman Dan Gilbert said in a media release. “One of the world’s leading experts on artificial intelligence, he is also a highly sought-after consultant for many successful businesses.”
Rampell co-founded Affirm, a startup offering ‘buy-now-pay-later’ loans, and TrialPay, a transactional advertising and payments company later acquired by Visa in 2015. Beyond his entrepreneurial ventures, Rampell also serves as a general partner at Andreessen Horowitz, focusing on fintech investments.
Krishna adds another layer of depth to the board’s expertise. He joined Rocket as CEO in August 2023, bringing over two decades of experience to the role.
“When I heard Varun speak about the AI tools Rocket is creating and the massive amount of data at their fingertips, I was simply blown away,” Rampell said. “The impact that Rocket can have on North Americans who are working toward their dream of homeownership is monumental. I’m looking forward to working closely with leadership and the board to learn even more about how we can make Rocket the leader in using AI to simplify the process of buying, selling and financing homes.”
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