How will artificial intelligence ultimately benefit the financial services sector?

Bank transfers, debit cards, credit cards, e-wallets and mobile wallets: all are used to process the one hundred and twenty-two billion digital transactions made each year in the European Union. At its simplest, the ubiquity of AI enables digital payments by allowing consumers to more easily buy goods and services through services such as digital assistants or recommendation engines, which run on machine learning. But this explosion in the number of the digital payments creates a problem which will also need AI to solve. The increase in web-payments, brings with it the unavoidable risk that volumes of digital-payment fraud will also rise. If we don't act now, fraud is likely to grow as a proportion all transactions.