Preparing for potential regulations around AI in electronic bill payment and presentment
The speed with which enterprise-level artificial intelligence has moved from the realm of theoretical -- if not outright science fiction -- to a widely adopted business tool has been nothing short of astonishing. The mad dash to find and implement applications for new, AI-based solutions is reminiscent of the rapid ascension of cloud technology in both fervor and consistency: the race to the cutting edge is taking place across industries.
Where sectors differ is in the level of caution they’re bound by their respective norms and requirements to apply in the process. While those in all industries ought to approach new technologies and tools with healthy prudence, in my personal opinion (and I am not an attorney), those of us in the electronic bill payment and presentment (EBPP) space must additionally consider the regulations that govern individuals’ privacy and the security of their data when it comes to something as private as their finances.