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This week in artificial intelligence news, tech giants C3.ai, HP and nCino reported strong first-quarter earnings, all fueled by the increasing demand for AI products and services. Meanwhile, states are looking at regulations and the Department of Justice eyes AI content deals.
Tech Giants Ride the AI Wave to Strong Q1 Earnings
In the first quarter of 2024, tech giants C3.ai, HP and nCino...
Financial Information Technologies (Fintech) has expanded its platform’s automated invoice processing capabilities to include all B2B transactions.
Previously designed to handle the retail and hospitality industries’ purchases of alcohol, the company’s PaymentSource accounts payable (AP) automation platform can now handle all their business purchases, Fintech said in a Thursday (May 30) press...
Inflation’s heady pace may have slowed a bit, but one wonders if a slight decline in food prices will be enough to make the paycheck-to-paycheck consumer feel more financially comfortable.
As reported by the Bureau of Economic Analysis, the Personal Consumption Expenditures Index (PCE) was up 0.3% in April, measured month over month, including all categories — and including essentials such as...
In recent years, QR code menus gained popularity among restaurants as a way to streamline service and reduce the need for additional staff.
However, consumer complaints have reportedly prompted a shift in the industry. Many diners have expressed frustration with QR code menus, citing issues such as difficulty in navigating the menus, concerns about privacy and a perceived negative impact on the...
TikTok has reportedly decided to put its plans for expanding its eCommerce business in major European markets on hold.
Instead, the ByteDance-owned social media platform will concentrate on growing its presence in the United States, its most lucrative market, where it faces potential divestment or ban, Bloomberg reported Friday (May 31).
TikTok’s eCommerce business, known as TikTok Shop, has been...
A wide variety of consumers across income levels and ages are showing a preference for paying for purchases with cash and debit cards, likely in hopes of better managing their debt levels.
This is just one trend that emerges in PYMNTS Intelligence’s Last Transaction Report, “Younger Consumers Lead Payment Shift From Credit to Debit,” which looks at how people are covering their costs in today’s...
The U.S. Justice Department has intensified its scrutiny of content deals involving artificial intelligence (AI) companies such as OpenAI.
Jonathan Kanter, the agency’s top antitrust official, has emphasized that entering into deals where one party exercises monopsony power may not be acceptable under the law. According to Bloomberg, Kanter made these remarks during an interview at a conference...
At a time of higher interest rates and heightened market volatility, actionable insights and forecasting take on greater importance for corporate treasury teams. For example, better cash flow prediction can allow treasurers to manage liquidity more tightly, minimizing financing costs. However, the wealth of data now available to large companies does not automatically transform into high-quality...
As we move fast and furiously into a digitally connected economy, payments modernization is essential.
After all, how businesses and consumers pay, and get paid, is central to defining the future of both commerce and daily life. That’s why the modernization of payment systems is not just a convenience — it’s an imperative.
Yet that imperative is not without its own challenges, and one of the...
Payments modernization, depending on the financial services company, will be synonymous with upgrades.
But it also needs to be synonymous with innovation, collaboration and business outcomes. As Wally Mlynarski, head of merchant solutions and receivables at Bank of America, told PYMNTS for the “What’s Next In Payments” series, modernizing payment infrastructures represents a shift in how...