With all its associated technologies (neural networks, symbolic reasoning, search algorithms, probabilistic reasoning, expert systems, and more), AI has been evolving in universities, the government, and corporations for decades. But only those with a keen interest in this technology have been paying close attention to its progress. Meanwhile, a chatbot helped you when you contacted support. Or you used Alexa or Siri to answer a question, play some music, turn on your lights, buy something online, pay your bills, or tell a joke. In our lives, we have caught glimpses of AI’s potential but no clear line of sight as to how powerful the underpinning technologies have become or how quickly they are evolving.
With the unveiling of ChatGPT and similar tools, we are now face to face with the AI era. In his book, Impromptu: Amplifying Our Humanity Through AI, Reid Hoffman says, "Much of what we do as modern people—at work and beyond—is to process information and generate action. GPT-4 will massively speed your ability to do these things, and with greater breadth and scope. Within a few years, this copilot will fall somewhere between useful and essential to most professionals and many other sorts of workers. Without GPT-4, they’ll be slower, less comprehensive, and working at a great disadvantage.
The Payments Industry is interesting because it is constantly changing, and technology has always been a significant change agent. For decades, networks, processors, PSPs, merchants, and financial institutions have invested in technology to increase adoption, create new services, manage risk, and accelerate initiation, clearing, and settlement.
In this episode, Yvette Bohanan is joined by Frank Young, a 35-year veteran of the fintech space, and Glenbrook’s Russ Jones to think about how AI might transform the payments industry and how organizations should mobilize for this transformation. It’s time to start talking about this topic seriously - with each other - and not just asking ChatGPT.
Episode 60 - Where and Why Interchange Optimization Works - CardConnect
Episode 59 - B2B Payments are Hot - Glenbrook's Erin McCune
Episode 58 - Consumers and Faster Payments - Consumers Union
Episode 57 - The Bumpy Road toward Merchant EMV Adoption - Heartland
Episode 56 - Consumer Healthcare Payments - BillingTree
Episode 55 - 3D Secure and the IoT - CardinalCommerce
Episode 54 - Securing IoT Payments - Gemalto
Episode 53 - India's Payments Innovation Scene - Glenbrook's Allen Weinberg
Episode 52 - Innovation for the Underserved - FinLab
Unravelling the Payments Data Hairball
Episode 50 - Internet identity, privacy, and a blockchain - SecureKey
How to Get, and Stay, Smart in Payments
Episode 48 - APIs, ACH, and Faster Money - Dwolla
Episode 47 - Blockchains and Moving Money on the Internet - Circle Internet Finance
Episode 46 - 3D Secure, Visa, and CardinalCommerce
Episode 45 - False Declines and Ethoca's Role
Episode 44 - On Privacy, IoT, and Security - Online Trust Alliance
EP43: Making Money Fly over Borders - ISO 20022, the IPFA, and Faster International Payments
Payments Data with Russ Jones
Marwan Forzley, Align Commerce, and the Evolution of Blockchain Business
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