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 competition. The interview has been edited for length and clarity.
A: One way you you can put it is that the fraud is a pretty big business, it's growing and getting more sophisticated by the day. It used to be that you would get, let’s say, an email sent to you and you’d find something off about it, right? Like there’s a misspelling and you think"Gosh, I don’t see this person misspelling this common thing" or the email seems to imply that it doesn't have a deep understanding of who I am.
A: We're planning on launching three new products with ties to AI in the next 120 days. For example, we have a checkout feature we are rolling out that uses AI to keep track of all the permutations of your addresses and personal information that you might use, and use AI to predict the right one to use with the right merchant.
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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