Unleashing the power of generative AI: 3 use cases for payments
Stripe and Klarna are among the payments companies already using generative artificial intelligence to improve their business. But many executives elsewhere have been holding back, whether because they are worried about the risks or they just don’t know enough about this nascent technology to be comfortable. The primer below offers an overview of the use cases to consider, the risks to prepare for and the steps to take as you start exploring.
Generative artificial intelligence has captivated the world’s attention with its potential to reshape industries and businesses.
For many financial services executives — including those in payments — the question is not whether generative AI will profoundly impact their industry, but rather how to harness its immense power to create value.
This cutting-edge form of artificial intelligence revolutionizes data creation, unraveling existing patterns to generate entirely new data samples. Imagine witnessing a generative AI system ingest images of animals, only to astonish with awe-inspiring, never-before-seen creatures born from its creative prowess.
While payment companies have long utilized AI to enhance their products and combat fraud, the game-changer lies in the emergence of the large-language models, or LLMs. These models empower machines to contextualize, infer and independently create diverse content.
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