11/06/2023

The Payments Industry and AI

Here are five ways to integrate it

In recent years, artificial intelligence (AI) has come a long way and is now being used in a variety of industries like healthcare, finance, manufacturing and more. Its rise in the workplace is expected to see an annual growth rate of 37.3 percent from 2023 to 2030 according to Forbes.

AI refers to the ability of machines to perform tasks that would typically require human intelligence, such as learning, problem-solving and decision making. This can range from simple tasks like data entry to more complex processes like image recognition. AI has the capability to solve problems that a human may not know exist and will make itself better without human intervention.

Integrating AI into payment operations presents significant opportunities and benefits for both the payments industry and the businesses they serve.

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