PYMNTS.com January 21, 2025
In an era of rapid technological evolution, few industries are as poised for transformation as banking and payments. It is a transformation that’s already underway, with technologies like generative artificial intelligence (GenAI).
“Governance, cost and utility form the three points of the [GenAI] triangle we’re trying to balance. Getting it right will unlock transformative possibilities for our industry,” Mark Sundt, CTO at Stax Payments, said during a conversation for the PYMNTS Series “What’s Next in Payments: Memo To The GenAI Companies.”
As banking and payments companies consider the technology, the focus is shifting toward practical applications of AI that can drive efficiencies, improve customer experiences and address fraud.
With AI tools embedded in nearly every software service, companies must also...
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