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ChatGPT, a conversational AI model built by OpenAI, is the hottest technology in 2023. And it has caught the attention of payment service providers keen to unlock the potential of the generative AI that drives it.
Generative AI is poised to revolutionize various sub-verticals within the payments industry. The most significant impact is expected to be seen on payment networks, mobile wallet providers and issuing banks.
We expect to see many positive use cases for generative AI in the next few years. The most feasible and valuable are considered to be genuine chat, personalization, credit scoring, payment optimization and fraud detection. On the other hand, there are some less promising use cases for generative AI in payments, including security and compliance.
The rise of generative AI may seem sudden, but it will take a long time for the industry to fully embrace its disruptive impact. Want to know where generative AI will have the greatest impact in payments, the most promising and least anticipated use cases for this technology, and what steps providers can take to prepare for its rise? click here Save $100 when you purchase the full report and use code CHATGPT100.