Putting the ‘AI’ in paid: Payment companies, automation and the banking sector’s growth
Abstract
Against the backdrop of a pivotal moment for artificial intelligence (AI) and automation in the global economy (particularly within the banking sector) this paper aims to provide a strategic roadmap for banks to harness the diverse benefits of AI, with a strong emphasis on its application in the payments space. Following a contextual overview of AI’s recent evolution, the paper explores multiple real-world applications of AI within the banking sector and subsequently outlines the related benefits for both banks and their customers, particularly in how they interact and ultimately transact. As with any cuttingedge technology, the integration of AI poses numerous challenges and obstacles for banks to negotiate. This paper outlines strategies to overcome those hurdles, enabling banks to leverage AI and automation to streamline operations, optimise customer experience, drive growth and position their businesses for long-term success. This article is also included in The Business & Management Collection which can be accessed at https://hstalks. com/business/.
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Author's Biography
Kenneth Upchurch leverages over 20 years of expertise in artificial intelligence (AI), automation and business transformation to drive innovation and operational excellence. As CEO at Kai-Mation, he leads a team dedicated to integrating AI and Quantum technologies to enhance revenue, operational efficiency, risk management and customer experience. Kenneth’s extensive background spans 11 different sectors, including finance, healthcare, defence, and manufacturing, equipping him with deep insights into adoption and commercialisation of AI and Quantum technologies. Kenneth worked at Paysafe from March 2024 to May 2025. In addition to his role at Kai-Mation, Kenneth is a seasoned entrepreneur, owning two ventures in the energy and AI consulting sectors. He has held partner and advisory roles in several influential decision-making bodies, including the University of Florida Advisory Chapter and the St. Johns County School District in Florida. Kenneth is also a sought-after speaker, sharing his passion for AI and Quantum technologies at over 30 international conferences. He has also delivered talks at six universities on topics related to AI in the workforce.
