August 27, 2024
Google to Add AI-Powered Insights and Reports to Merchant Center
Google will roll out new artificial intelligence-powered tools in its Merchant Center in time to help retailers sell during the holiday season. The tools include new insights and shopping ads...
August 27, 2024
Apple Finance Chief to Depart at Year’s End
Apple Chief Financial Officer Luca Maestri is set to step down at the start of next year. Maestri will exit the CFO office starting Jan. 1 but continue to lead...
August 27, 2024
The Not So Strange Case of the Attention Economy and...
Tech addiction, and its harmful consequences for our health and well-being, have become a growing source of concern. Common wisdom has already emphasized the relationship between this disorder and the...
August 27, 2024
41% of Banks Offer Embedded Finance Solutions, Have FinTechs to...
In today’s financial services arena, embedded finance and banking-as-a-service (BaaS) have emerged as transformative forces, redefining the way banks and financial institutions (FIs) engage with consumers and businesses. At the...
August 27, 2024
Retailers Tackle the High Cost of Returns by Incentivizing People...
Retailers are facing mounting pressure from the costs associated with returns, but they are also discovering ways to turn this challenge into an opportunity for growth, Catherine Dummitt, VP of...
August 26, 2024
How AI Translation Could Rewire Global Business
A new generation of artificial intelligence (AI)-powered translation tools is dismantling language barriers and reshaping how companies communicate across borders and cultures, experts say. Unlike earlier services like Google Translate,...
August 26, 2024
Chanel Launches Necklace-Watch That Connects to Smartphone
Chanel has reportedly launched a watch that is worn as a necklace and includes integrated wired headphones, a microphone and remote control. When connected to the user’s smartphone, the Première Sound...
August 26, 2024
Cyber Outages Reveal Need for Multilayered Defenses Across Digital Economy
The Port of Seattle, which operates the Seattle-Tacoma International Airport, is the gateway to Asia. And over the weekend (Aug. 24), it suffered a “possible cyberattack” that was described as...
August 26, 2024
Apple Moves iPhone 16 Rollout Up One Day
Apple has sent out invitations for its September event showcasing devices like the iPhone 16. As Bloomberg News reported Monday (Aug. 26), the company will host this event at the...
There’s two sides to the AI coin. Fraudsters use it to create more effective scams, while banks use it to detect and defend against fraudsters, and 83% of banks are considering its adoption for this purpose. As the PYMNTS Intelligence “Generative AI Tracker®” examines, the same capabilities that make AI effective against fraud also present risks that challenge its widespread adoption.
Although authorized party fraud accounts for only 37% of FIs’ fraud losses in dollars, these types of attacks are the most likely to impact customer satisfaction and retention — something FIs cannot overlook. PYMNTS Intelligence’s latest 29-page report, “Leveraging AI and ML to Thwart Scammers,” a collaboration with Hawk, contains 8 charts of proprietary data examining the role of ML and AI to help keep fraudsters from getting the upper hand