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NYPAY and Phase 5 Publish Research on AI in Payments

Together with banking, finance, & payments professional association NYPAY, Phase 5 is excited to release findings from our recent study about the Future of AI in the Payments Landscape. Based on a December 2023 survey of leading financial, payments, and consulting professionals in the US, results illustrate the anticipated impact of artificial intelligence on the payments industry over the next 2 years.

Insights from the research tell the story of how big the impact is expected to be, how prepared businesses are to integrate AI into their current systems, what barriers to adoption currently exist, and which particular areas of the industry are most likely to see transformation first. Key takeaways include a perspective on how to collaborate with other stakeholders to ensure success, and guidance for prioritizing opportunities for AI application.

We're very pleased to partner with such a respected organization to conduct this timely, industry needs-driven research. NYPAY is a non-profit membership association for senior executives and innovators in payments, banking, and fintech. Founded in 2006, NYPAY curates and delivers resources and events dedicated to education and networking for the benefit of its members. In addition to this most recent research, Phase 5 has also worked with NYPAY to produce articles such as Payment Trends Expected to Disrupt the Banking Industry by 2025, and events including the panel discussion, Small Business's Unmet Financial Needs led by Steve Hansen in September, 2023.

Visit NYPAY's Content page to learn more, and click on their post The Future of AI in the Payments Landscape :Expert Insights for complete details. You can also learn more about the study here, in our Phase 5 Insights posts. For more information on this study or how to partner with the Phase 5 team, contact us.

Written by Michael Dolenko

Michael Dolenko, MA, is a partner at Phase 5 and the co-lead of the Innovation and Product Development practice. Michael is a sought-after moderator and survey researcher for clients in financial services, retail, technology, education and publishing. He and his team focus on product and service innovation and studies that support go-to-market initiatives.