From facial recognition and digital voice assistants to social media algorithms and chatbots, artificial intelligence (AI) is embedded in our daily lives. This ability to intersect with and enhance everyday tasks has accelerated its adoption: 35% of companies are using AI in their business, with a further 42% exploring its use – and the financial services sector is leading the charge.
Nowhere is this more evident than in a disruptive sphere of this traditionally clunky sector: embedded finance. This insertion of financial services into nonfinancial platforms, to streamline processes and enhance user experiences, is being elevated by AI throughout every stage of the process – with compelling benefits.