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Education

ible tools for analytics. Being able to crunch numbers and
make connections is what artificial intelligence does best. AI, a hot topic in 2024

Modern analytics rely on complex systems and human Following are excerpts from The Green Sheet's recent
computing to organize and assess information to gather coverage of the current AI surge:
key insights. Artificial intelligence, however, has the ca- • From "Rolling out 2024 – Part 2" by Dale Laszig, Jan. 8,
pacity to do this all on its own. It can work smarter, hard- 2024, issue 240101:
er, and faster, allowing us to do more with data. This can One of the biggest developments of 2023 was the
open up business efficiencies and offer valuable tools for emergence of generative AI, which Leach expects will
customers.
follow the same cycle as other disruptors that require
Technological advancements enterprises to re-evaluate approaches to authentication
and transaction security.
The world changed when ChatGPT (https://chat.openai. To read the full article, visit www.greensheet.com/
com) hit the market, but the system itself is almost old emagazine.php?story_id=7457&search_string=AI
news at this point. Today's attention is on the next stage
of the AI revolution—systems generated entirely by AI. It • From "Does AI have a bubble problem?" by Patti
is very likely that software engineers will be able to cre- Murphy, Jan. 8, 2024, issue 240101:
ate better and more powerful tools to support customer I may get blowback on this, but the way I see it we are
needs with the assistance of artificial intelligence. living through an AI bubble, and like other bubbles

Better customer service before it, this one will burst. Before continuing,
let's agree this is not necessarily bad news, and that
Every business knows customer service is essential, and artificial intelligence is not inherently bad. Machine
few things influence customer service quite like acces- learning tools and other forms of AI have been
sibility. While chatbots have been supporting customers used for generations, with success, for banking and
with standard requests in recent years, AI is likely to give payments applications, including fraud prevention
them a major upgrade. and detection.
To read the full article, please visit www.greensheet.com/
Many of the problems we currently rely on human cus- emagazine.php?story_id=7460&search_string=AI
tomer service agents to solve will likely be able to be han- • From "AI is coming for us: Legal strategies for ISOs" by
dled through AI-powered bots instead. Customers will be
able to skip the wait times and receive concrete solutions Adam Atlas, Jan 8, 2024, issue 240101:
too. It is believed that AI will manage 95 percent of cus- Perhaps more than was true for earlier technology
tomer interactions by 2025 (see https://getzowie.com/blog/ advances, it's hard for us to imagine today exactly what
stats-ai-customer-service). AI will do to the payments landscape. As a follower
of some developments in AI and a legal adviser in
With artificial intelligence supporting these efforts, cus- payments, some possible issues arise that perhaps
tomer service reviews are likely to get better for busi- merit review for ISOs and payment processors.
nesses. To read the full article, please see www.greensheet.com/

New payment methods emagazine.php?story_id=7464&search_string=AI
Blockchain and cryptocurrencies are changing the pay-
ments industry in significant ways. Once again, this is an
area where artificial intelligence is likely to make an im- Whether your merchants' customers make purchases via
pact. With these systems working in tandem, it is likely websites or in-person in physical stores, these new sys-
we will see the adoption of new payment methods, which tems should empower you to bring more to the table.
can be made available through payment gateways. In the
future, new currencies may become more common. Faster and better technology can lead to significant posi-
tive changes in this industry.
The takeaway

Payment gateways play a key role in modern business, Nicholas Cucci is the co-founder and COO of Fluid Pay LLC. Cucci is also
allowing companies to accept purchases all around the a graduate of Benedictine University and a member of the Advisory
world. With artificial intelligence joining the ranks of Board and Anti-Fraud Technology Committee for the Association of
players in the payments industry, it looks like we can look Certified Fraud Examiners, as a CFE himself. Fluid Pay is the ONLY 100
forward to several positive changes. percent cloud-based Level 1 PCI Payment Gateway processing transac-
tions anywhere in the world. Contact Nick at Nick@FluidPay.com.
While we cannot guarantee where the payments industry
will go in the future with AI behind the wheel, we can
expect innovation and opportunities like never before.
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