Generative AI: It's Here, and It Defies Static Definition

Generative artificial intelligence is not just hype. It is a high-impact technology that requires the attention of leaders in every industry. Payments and financial services products and business models are at risk, but they will not be affected as quickly as industries such as marketing, content generation, and software engineering. Nonetheless, generative AI is here to stay and ever-changing. What’s known about it and its capabilities today will be different tomorrow.

This Javelin Strategy & Research report delves into generative AI, its known capabilities, where it might be headed, and how companies should position themselves to assess its potential impact on their operations as well as to head off any uses of the technology that could raise compliance issues.

Key questions discussed in this report:

• How should we think about the potential impact of generative AI on the payments industry?
• What should companies be doing now to assess generative AI’s potential benefits? How should they be wary?
• What is the likely impact on generative AI on various business functions?

Companies Mentioned:

Bloomberg, Google, Meta, Microsoft, OpenAI, Samsung, Stanford University