TECH - Fintech Trends In 2024: AI BaaS Payments And Regulatory Scrutiny | Benzinga
The financial services industry has seen some ground-breaking changes in the past year, with fintech innovations driving the sector forward and fast-paced developments in artificial intelligence.
Participants in the fintech sector expect 2024 to be another transformative year as further investment by financial services companies reshapes the banking landscape.
Marius Galdikas, CEO at ConnectPay, a financial platform for online businesses, offers insight into what’s going to be hot in 2024 and what possible risks are lurking.
Artificial Intelligence
Galdikas says: “As the transformative potential of generative AI has become clearer throughout 2023, fintech companies are looking to integrate AI more fully into the financial services sector in 2024.”
Beyond chatbots and virtual assistants, he sees AI models being considered as a solution to more complex tasks such as risk assessment, fraud detection and customer authentication. However, achieving AI’s promise in a responsible way won’t be an easy task.
He adds: “It will be important to understand AI's mechanisms, its biases, and its ...