As banks test the many possible use cases for generative AI — deep-learning models that can analyze large volumes of data and generate statistically probable outputs when prompted — one area of interest is small-business lending. A generative-AI-based virtual assistant or copilot can help shepherd small-business owners through the time-consuming and sometimes perplexing loan application process and take care of much of the work loan officers typically do, such as data validation, qualification and loan approval.