Artificial Intelligence, also known as Artificial Intelligence, is well-known for streamlining processes safely. However, when it comes to digital payment solutions, AI goes beyond streamlining and providing security. AI brings automation to online payments and allows users to monitor them. It is fascinating to note seven amazing uses of AI within the payment industry. Although self-driving cars are not a new concept, have you ever considered that the technology behind self-driving cars could be used to fraudulently apply for loans or cards?

AI or Artificial Intelligence is known for streamlining processes securely, but when it comes to the digital payment solution, AI goes beyond streamlining and offering security. AI brings automation and enables users to monitor online payments. A self-driving or autonomous car is no longer a new concept, but have you ever thought that the technology used behind a self-driving car can be used in finding fraudulent card or loan applications? Yes, the neural network technology or Artificial Neural Network (ANN) is the technology behind the autonomous car. It imitates the human brain and has played a vital role in finding the stolen identities from the Equifax data breach and other incidents.

Mastercard's Irish subsidiary is increasingly focused on developing products and services that are are built on so-called "deep tech" such as blockchain, artificial intelligence and machine learning, the company has said. Speaking to The Irish Times, Ken Moore, who lead's Mastercard's R&D initiatives globally, said the company's Dublin-based unit was moving beyond its initial focus of developing digital payments solutions to the wider group. He said the business was now looking to go beyond the hype that surrounds new technologies such as blockchain to develop "real, grounded services and products" that would be rolled out across the wider group. "This is not exploratory work for us," said Mr Moore. Mastercard, which is the second-largest payments company globally, has significantly grown its Irish business in recent years, after deciding to locate much of its research and development work in Ireland.