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 119 - The API to Streamline and Secure Account Access - Don Cardinal, GM, Financial Data Exchange
Episode 118 - Third Annual RTP Network Update - TCH's Steve Ledford
Episode 117 - Stop Them at the Front Door Before Giving That Loan - Rivka Gewirtz Little, Socure
Episode 116 - Now More than Ever - Glenbrook Payments Boot Camp® Digital Edition - Russ Jones, Glenbrook Partners
Episode 115 - Finding the Phantoms - Synthetic Identity and the Issuer - Naftali Harris, SentiLink
Episode 114 - How to Orchestrate the Merchant’s Payments Infrastructure - Justin Benson, Spreedly
Episode 113 - SMB Cash Management Meets Lending and Payments - Nan Siler, Kabbage
Episode 112 - What the Mobile Ecosystem Brings to Risk Assessment - Rodger Desai, Payfone
Episode 111 - Managing Ecommerce Fraud - Colin Sims, Forter
Episode 110 - Building Out and On a National Faster Payments System
Episode 109 - Bitcoin SV, a Payments and Data-focused Path in Bitcoin Evolutio - Jimmy Nguyen, Bitcoin Association
Episode 108 - B2B Payments for the Massive Insurance Segment - Jeff Brown, VPay
Episode 107 - The Financial Inclusion Impact of the Digital Wallet in Columbia - Hernando Rubio, CEO, Movii
Episode 106 - Payments Infrastructure for the ISV - Richie Serna, Finix
Episode 105 - The Independent Gateway's Enabling Role - Nick Starai, NMI
Episode 104 - The Complex World of Healthcare Payments - Ian Drysdale, Zelis Payments
Episode 103 - Mining the Dark Web for Early Detection of Fraud - Aamna Zia and David Hetu, Flare Systems
Episode 102 - nexo standards Attacks Point of Sale Complexity - Jacques Soussana, General Secretary
Episode 101 - The U.S. Faster Payments Council - Kim Ford
Episode 100 - Strong Customer Authentication - Russ Jones, Glenbrook Partners
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