Even with concerns over a bubble and potential regulatory restrictions, payment technology firms are racing to develop products that use generative artificial intelligence, betting on robust demand in the near and long term.
Generative AI, which refers to newer forms of AI that can produce original content, has become one of the largest trends in technology over the past year. In the payments industry, firms are making investments and deciding on strategies while still looking for the best ways to use new AI.
While much of the early uses for generative AI inside of companies, there’s also a lot of attention being paid to small businesses, with Block (formerly Square) and Stripe deploying several new generative AI products in October alone.
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