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 159 - The Top KPI of International E-Commerce - Ralph Dangelmaier, CEO, BlueSnap
Episode 158 - The High Pain of Push Payment Scams - PJ Rohall, Featurespace
Episode 157 - Experts Deep Dive on Financial Health and Inclusion
Episode 156 - How to Make Financial Health a Reality - Mimi Joy, Financial Health Network
Episode 155 - Enabling Payments Operations and the Multiplayer Fintech Ecosystem - Dimitri Dadiomov and Rachel Pike, Modern Treasury
Episode 154 - Fighting Disruption in Merchant Services with Payments Tech - Kyle Pexton and Nick Starai, NMI
Episode 153 - How to Make B2B Payments in a Few Lines of Code - Brady Harris and Adam Steenhard, Dwolla - Payments on Fire® Fintech Series
Episode 152 - The Fast Payments Imperative - Elizabeth McQuerry, Glenbrook and Craig Ramsey, ACI Worldwide
Episode 151 - The Fintech Network Built for SMB Payments - Marwan Forzley, Veem
Episode 150 - How a Fintech Speeds the Logistics Industry - Robin Gregg, RoadSync
Episode 149 - Bringing Data to Secure A2A Transactions - Eli Polanco, Nivelo
Episode 148 - The Fintech Bringing Crypto and Diem to Payments Users - Ran Goldi, First
Episode 147 - The Apps of the Card World: Closed Loop Prepaid - Dom Morea, Fiserv
Episode 146 - Multiplayer Fintech Builds a Winning B2B Service - Robin Gandhi, TripActions
Episode 145 - GPay's Impact on Every Stakeholder: Way More Than a Wallet - Steve Klebe, Google
Episode 144 - Innovation in Fast Money: 4th Annual RTP Network Update - Steve Ledford, The Clearing House
Episode 143 - The Buy Now Pay Later Challenge to Credit Issuers - Chris Bixby, Sezzle - Payments on Fire® Fintech Series
Episode 142 - Don’t Miss Out on Faster Payments, The Next Big Shift in Digital Payments - Russ Jones, Glenbrook Partners
Episode 141 - The Data Driven Money Supply Chain - Keith Smith, CEO, Payability - Payments on Fire® Risk Series
Episode 140 – Finding Fraudsters at the Front Door - Robert Capps, NuData Security - Payments on Fire® Risk Series
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