Artificial intelligence has come to dominate headlines, product roadmap, quarterly investor calls, but one concept remains stubbornly similar: trust.
“All major evolutions and transformations focus on what is most important. We introduce you to the structure of your business model, what your customers need, expectations and trust.” Discover® Network Payment Innovation Director Kate Leiberger He told Pymnts. “And I might argue, trusting is the most important of these three.”
That's especially true with regard to AI, she said. The early periods of enterprise innovation, such as mobile and digital, have been a response to external constraints, but AI introduces internal and existential pressures. Now, businesses are working not only on how to use this new technology, but also on how to deploy it to scrutiny of evolving customer expectations and regulations.
Leiberger, who spent his career at the intersection of emerging technologies and enterprise transformation, said that AI is not a revolution for a revolution. It's a powerful tool, but it's a relatively new tool Must be used With accuracy, transparency and responsibility.
“If you're building something with AI, there's nothing more than trust,” she said. “These solutions require customer information, potentially a lot of data.”
This interest is the highest in security critical industries Like Fast trading, frequent and sensitive financial services.
A new frontier as a generation AI It's being replaced By Agent Commerce
One of the most notable shifts that are happening is the transition Beyond payments and commerce What is from a general-purpose generation AI tool? Called More targeted agent commerce, According to Lybarger, transactional applications for advanced AI technology state.
“we [the industry] She added that technology promises to enhance the customer experience, but it is also important to balance innovation and risk management.
“[There are] “The utmost importance is that responsibility and ethical use of these tools,” she said.
For Discover Network, this is more than just a philosophical stance. It is a strategic obligation. AI is a means and not the end, Leiberger said. Must apply Careful, clarity and deep understanding what You need to resolve the problem.
“How do companies think about hiring and deploying AI and managing situations where things go wrong.
One of the more attractive promises of AI is its ability to integrate internal knowledge across departments and eliminate scary corporate silos, but AI development has not yet progressed to that stage.
“AI may not be mature enough to successfully deploy for a particular problem due to a particular problem,” Lybarger said. “But, when it is applied to the right problem, it can probably enhance the value of your business model in a more effective and efficient way.”
Building an Ethical AI Foundation in Financial Services
I'm a liberger It's soaked In her AI-related initiative, she said technology is not the answer to everything.
“AI is not the only place in innovation,” she said. “Contrary to all the ways we can't stop talking about AI, it's still about solving the right problems in the right way and maybe we need AI.”
Innovation, she said, is “the ability to solve problems in a way that someone else finds value.” “In this equation, I provide value to you as a company, and in exchange I see value to me.”
A balanced exchange between providing value and capturing is where AI finds its right. It's not a lead, it's a support actor. This perspective also helps to ease expectations.
“AI isn't good at a lot of things yet,” Lybarger said. “It's hard to believe given how saturated we are with the amazing things of AI every time… [while] AI solves every problem you can think of. The reality is that shouldn't be what we expect today. ”
Accepting the high-level view of the role of AI in the evolution of business models could raise new organizational questions about deployment and responsibility.
“At the end of the day, people want to pay, they want it to work the way they need it and want it to work,” she said. “We will continue to pressure test and explore those opportunities if we can help deploy AI solutions and make them easier, faster and safer.”
Subscribe Daily for all PYMNTS AI, B2B, and digital conversion coverage AI, B2B and Digital Conversion Newsletter.
