How PayPal is using AI to combat fraud, and make it easier to pay

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NEW YORK (AP) — Artificial intelligence has been the buzzword of 2023 ever since ChatGPT made its public debut earlier this year, with businesses, schools, universities and even non-profits looking for ways to integrate AI in their operations. John Kim, chief product officer for PayPal, spoke with The Associated Press about how the company is using the early proliferation of artificial intelligence technologies in its business, as well as PayPal's future in payments when there's so much competit

NEW YORK — Artificial intelligence has been the buzzword of 2023 ever since ChatGPT made its public debut earlier this year, with businesses, schools, universities and even non-profits looking for ways to integrate AI in their operations.

Q: How have security issues changed since you’ve been in this role or similar roles? How much more complicated or sophisticated are threats or opportunities to protect customer data? Q: How are you integrating AI into the work you’re doing? Where do you see the most promise for AI in payments? A: I think AI has captured a lot of people's imaginations this year. It's made its way to boardrooms, into stores, every product conversation. Some people have been skeptical, and I think some skepticism is healthy. For example, we want to use AI to increase our chatbots' capability to engage with customers, but how much do we invest in such technology — which can be expensive to develop and run — when a customer service agent could do it better? Cost is going to be a massive issue.

 

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