Study Finds AI Must Earn the Right to Move Money

Artificial intelligence is quickly becoming a core part of how businesses handle payments, but consumers and operators aren't ready to give it full control just yet. New research shows that while 'AI-first' tools are expanding, they are currently most trusted for back-end efficiency rather than making final financial decisions. For retailers and service providers, this means AI can help you identify which customers might be the best candidates for financing, but the technology still needs 'human-in-the-loop' oversight to maintain trust. The data suggests a split in how industries use these tools. High-stakes sectors like finance and cybersecurity are leading the charge in adoption, while customer-facing businesses are using them to streamline the checkout process and fraud detection. For your business, the immediate value lies in using AI to speed up the credit application process and personalize payment offers. However, the report highlights that AI must 'earn the right' to move money autonomously. Consumers still expect a transparent, human-led experience when it comes to their debt and payment plans. If you are implementing new financing software, look for tools that use AI to simplify the paperwork without removing the personal touch that closes the sale.

Source: PYMNTS

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