How AI will Transform Payments
Overview
This session will explore how AI adds value in payment operations and how to assess its deployment effectively. Speakers will walk through key use cases, including fraud prevention, enhancing customer service, automating repetitive workflows, and analyzing vast amounts of data. AI proves particularly useful in low-risk scenarios like tracking payments, sending notifications, conducting investigations, selecting payment rails, and optimizing cash flow. Additionally, AI-driven reconciliation can significantly speed up matching transactions while keeping human oversight for exceptions. Before deploying AI, organizations must consider critical questions: What is the risk versus reward? Are safeguards in place, similar to those for human workers? How important is accuracy, especially when errors can cause significant payment disruptions? And ultimately, will AI free workers from mundane tasks, enabling them to focus on higher-value activities?