Payments and financial services technology provider Fiserv has launched an AI-focused partnership with Microsoft.
The new partnership aims to further incorporate artificial intelligence (AI) into Fiserv's development platform, while giving employees more access to the technology, the company said in a news release Thursday (Jan. 8).
“By incorporating AI into our workforce and development platforms, we are not just improving the way we do business, we are transforming how Fiserv delivers the next generation of innovation to our customers,” said Guy Chiarello, vice chairman of Fiserv.
“This partnership with Microsoft will enable us to bring intelligent capabilities to market faster and at scale, enabling smarter, differentiated solutions that help our clients grow, compete and lead in today's rapidly evolving fintech and payments landscape.”
According to the release, Fiserv will provide its employees with access to Microsoft's 365 Copilot AI tools, while working with the tech giant to expand its use of the Foundry AI platform. These initiatives are aimed at increasing employee productivity, streamlining processes and opening the door to new revenue opportunities, the company added.
The partnership builds on Fiserv's existing use of Microsoft Foundry and GitHub Copilot, the release states. Fiserv said it has processed more than 100 billion tokens at Foundry and that GitHub Copilot has been adopted by more than 8,000 software engineers across Fiserv.
Advertisement: SCROLL TO CONTINUE
In other AI news, PYMNTS CEO Karen Webster wrote Thursday about how artificial intelligence “smart agents” will replace super app models built around a single vertically integrated digital front door managed around a single platform.
The model, she wrote, would centralize consumer choice within a platform managed and monetized by operators, with sellers competing and paying for placement within that environment.
“Smart agents reverse that dynamic,” Webster writes. “We take the work of searching, comparing, and deciding out of the hands of consumers and give it to software that is directed to act in the consumer's best interest. This changes everything: how retailers compete, how their platforms monetize, and how purchasing decisions are made.”
He argued that publishers are already making the transition, with some publishers optimizing their content and finding new avenues for growth by viewing AI and agents as a new distribution layer, and others resisting the risk of being bypassed.
“The same dynamic will play out in commerce,” Webster wrote, adding that there are early signs that consumers are buying in.
According to a PYMNTS Intelligence study, 57% of U.S. consumers have used an AI platform for personal tasks, and this number is higher among younger and higher-income Americans.
