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 179 - Understanding US Payment Regulation with Jennifer Aguilar, Alston & Bird LLP
Episode 178 - Tokenization
Episode 177 - Fanning the Flames: Durbin-Marshall Credit Card Competition Act
Episode 176 - Fanning the Flames: PaymentsEd Forum 2022
Episode 175 - Delegated Push Payments, Russ Jones
Episode 174 - Fanning The Flames: Proof Of Work Consensus Algorithm
Episode 173 - Fanning the Flames: NFTs
Episode 172 - Fanning the Flames: Fast Payments on the African Continent
Episode 171 - How Wallets Are Transforming The Global Payments Landscape And What Merchants Should Do About It - Chuck Huang, Citcon
Episode 170 - No turning back at the crossroads of embedded finance and the metaverse - Ahon Sarkar, Helix by Q2
Episode 169 - Catching Up On The State Of Payments - Robin Gandhi, Nium
Episode 168 - Fanning the Flames: NACHA Smarter Faster Payments 2022 - Elizabeth McQuerry & Cici Northup
Episode 167 - Combating Fraud - Patrick Chen, SpecTrust
Episode 166 - Payments Trends & Best Practices - Casey Klyszeiko, Fiserv
Episode 165 - Fanning the Flames: Global Payments - Elizabeth McQuerry & Joanna Wisniecka
Episode 164 - 5th Annual RTP Network Update
Episode 163 - Payments Infrastructure and Foreign Policy
Episode 162 - Stablecoins, Cross-border Payments & Interoperability - Ran Goldi, First Digital Assets Group
Episode 161 - AI-ML and Bias - Ismini Psychoula, OneSpan
Episode 160 - Innovation in Payments Workshop - Russ Jones, Glenbrook Partners
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