2024 TechSprint: Generative AI in Housing Finance – Public Affairs Detail

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July 22-25, 2024
The FHFA Generative Artificial Intelligence (AI) in Housing Finance TechSprint will be an in-person, team-based problem-solving event hosted by the Federal Housing Finance Agency’s (FHFA) Office of Financial Technology (OFT). The TechSprint will bring together technology, regulatory, housing, and consumer finance experts to identify use cases and associated control measures to support the responsible use of generative AI in housing finance.
Participants will be organized into TechSprint teams and work over a three-day period to solve for problem statements centered around the question:
“How might the responsible use of generative AI promote a transparent, fair, equitable, and inclusive housing finance system, while fostering sustainable homeownership and rental opportunities?”
The TechSprint culminates in a Demo Day where each team will present its ideas to an independent panel of judges drawn from subject matter experts in government, industry, nonprofits, and academia.
The Generative AI in Housing Finance TechSprint will be held at FHFA’s Constitution Center headquarters in Washington, DC, and will run from July 22 to July 25, 2024.
Applications to participate in the 2024 TechSprint are due by 5:00 PM ET on May 24, 2024. Apply today! Additional information on the TechSprint, including the problem statements, is available below.
FHFA invites all interested individuals to submit an application to participate in the Generative AI in Housing Finance TechSprint. Teams will be assembled into functional groups with diverse expertise and experience, including participants from fields such as housing finance, consumer financial services, technology, risk management, and compliance. Details of the application and selection process can be found in the TechSprint Rules.
All applicants are encouraged to review the TechSprint problem statements below and to indicate which statements they would be especially excited to work on solving.
Apply today!
Umbrella Stateme​​nt​
Generative artificial intelligence (AI) has captured the imagination and interest of a diverse set of stakeholders, including industry, government, and consumers. For the housing finance system, the transformative potential of generative AI extends beyond technological advancement. Generative AI presents an opportunity to promote a housing finance system that is transparent, fair, equitable, and inclusive and fosters sustainable homeownership. Realizing this potential, however, is contingent on a commitment to responsible innovation and ensuring that the development and use of generative AI is supported by ethical considerations and safety and soundness.
FHFA’s Generative AI in Housing Finance TechSprint challenges participants to address the question, “How might the responsible use of generative AI promote a transparent, fair, equitable, and inclusive housing finance system while fostering sustainable homeownership and rental opportunities?”​
TechSprint participants will demonstrate:
Focused Statements​
The four areas of focus are as follows:
Have additional questions about the 2024 TechSprint? Please contact OFT at FinTech@FHFA.gov. To learn more about OFT, please visit the OFT home page. And to learn more about FHFA’s inaugural TechSprint held in 2023, please visit the Velocity TechSprint webpage.​​
Page Last Updated: March 20, 2024​​​​​​​​​​​​​​​​​​
© 2024 Federal Housing Finance Agency

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