One confirmed feature for PayPal users to look forward to now is the “Smart Receipts.”
According to the tech company, this tool will take note of customers’ history of purchases, using the information to predict their future buys. Smart Receipts is also going to show each customer cashback opportunities and tailored recommendations.
Bringing these tools to fruition will naturally require people to permit merchants access to their personal data. PayPal users who deem this to be problematic can opt out via on-site privacy controls.
At this time, the company has yet to reveal additional AI tools that will accompany Smart Receipts. However, PayPal CEO Alex Chriss maintains these new steps forward will tackle “pain points” and revolutionize the world of commerce.
Could other financial tech companies follow suit?
Current developments follow part of an ongoing pattern with AI. Businesses across different industries are consistently embracing the aforementioned technology as a tool to assist human workers, improve customer experiences, and otherwise enhance general operations.
