Artificial intelligence (AI) in the payments industry showed one potential use case in particular, according to industry seniors in a 2024 survey. Chatbots and the personalization of customer experience were on the mind of payment experts during the summer of 2024. However, more than eight out of 10 respondents felt AI was best used for fraud detection or preventing fraud. This is in line with results from 2023, when banks also listed fraud detection as a major use case for generative AI. Payment card fraud - including both credit cards and debit cards - is forecast to grow by over 10 billion U.S. dollars between 2022 and 2028.
Use case of artificial intelligence (AI) and machine learning in the payments industry according to senior payment professionals worldwide in 2024
The source does not provide additional information on the type of survey conducted, or the country of origin of the respondents. It adds that the payments professional came from "across the globe".
The source phrased the survey question as follows: "What are the growing use cases of AI and machine learning in payments?". Multiple answers were possible.
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Edgar, Dunn & Company . (October 30, 2024). Use case of artificial intelligence (AI) and machine learning in the payments industry according to senior payment professionals worldwide in 2024 [Graph]. In Statista. Retrieved November 14, 2024, from https://www.statista.com/statistics/1535112/ai-and-machine-learning-in-payments-use-cases/
Edgar, Dunn & Company . "Use case of artificial intelligence (AI) and machine learning in the payments industry according to senior payment professionals worldwide in 2024." Chart. October 30, 2024. Statista. Accessed November 14, 2024. https://www.statista.com/statistics/1535112/ai-and-machine-learning-in-payments-use-cases/
Edgar, Dunn & Company . (2024). Use case of artificial intelligence (AI) and machine learning in the payments industry according to senior payment professionals worldwide in 2024. Statista. Statista Inc.. Accessed: November 14, 2024. https://www.statista.com/statistics/1535112/ai-and-machine-learning-in-payments-use-cases/
Edgar, Dunn & Company . "Use Case of Artificial Intelligence (Ai) and Machine Learning in The Payments Industry According to Senior Payment Professionals Worldwide in 2024." Statista, Statista Inc., 30 Oct 2024, https://www.statista.com/statistics/1535112/ai-and-machine-learning-in-payments-use-cases/
Edgar, Dunn & Company , Use case of artificial intelligence (AI) and machine learning in the payments industry according to senior payment professionals worldwide in 2024 Statista, https://www.statista.com/statistics/1535112/ai-and-machine-learning-in-payments-use-cases/ (last visited November 14, 2024)
Use case of artificial intelligence (AI) and machine learning in the payments industry according to senior payment professionals worldwide in 2024 [Graph], Edgar, Dunn & Company , October 30, 2024. [Online]. Available: https://www.statista.com/statistics/1535112/ai-and-machine-learning-in-payments-use-cases/
