Sample Report: Global AI Impact on Payments & B2C E-Commerce 2024

Description

Countries Covered: US, UK, Germany, China

Pages: 68

Publication Date: 25.07.2024

Questions Covered in this Report:

• How does AI contribute to the improvement of customer experience in B2C E-Commerce?
• What percentage of global shopper’s desire AI assistance in product research and information gathering?
• What are the latest innovations in AI applications for fraud prevention in online payments?
• What percentage of retail decision-makers in the U.S. feel prepared to implement generative AI technology in 2024?
• How do consumer privacy concerns affect the adoption of AI in E-Commerce?

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Key Findings:

The Impact and Future Growth of AI in Online Payment Systems

The global value of AI in payments is expected to surpass EUR 55 billion by 2031, up from under EUR 8 billion in 2023. Artificial intelligence is revolutionizing the online payments sector by enhancing security and preventing fraud. Companies are leveraging AI-powered solutions to monitor transactions in real-time, detecting and preventing fraudulent activities. These technologies make online payments safer and more reliable, thereby gaining the trust of consumers and businesses alike.

AI Integration Enhancing Personalized Customer Experiences in B2C E-Commerce

AI transforms B2C e-commerce with personalized shopping experiences and dynamic pricing. It enables retailers to tailor offers based on consumer data, boosting loyalty and sales. AI-driven chatbots provide 24/7 support, and virtual human technologies during livestreams further cut costs and improve efficiency.

AI in Embedded Finance

AI integrates financial services with non-financial platforms, offering tailored products like loans and installment plans. It enhances underwriting, risk assessments, and fraud detection, ensuring secure transactions and fostering trust.

Ethical and Regulatory Challenges of AI Integration in Online Payments and B2C E-Commerce

While AI offers numerous benefits, its integration into B2C e-commerce and online payments presents challenges. Issues such as data privacy, algorithm bias, and regulatory compliance need to be addressed to ensure ethical AI deployment. AI systems require vast amounts of data, raising concerns about data collection, storage, and usage. Compliance with data protection regulations like GDPR is crucial for maintaining customer trust. Financial institutions and B2C E-Commerce platforms must navigate a complex regulatory landscape to ensure their AI systems comply with current laws. Continuous system upgrades and employee retraining are necessary to keep up with AI development, making integration into existing systems complex and costly.

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Table of Content:

1. Key Takeaways

2. Management Summary

3. Global

• Overview of AI Use in Payments, June 2024 (1 of 3)
• Overview of AI Use in Payments, June 2024 (2 of 3)
• Overview of AI Use in Payments, June 2024 (3 of 3)
• Overview of AI and Machine Learning in Payments, December 2023 (1 of 2)
• Overview of AI and Machine Learning in Payments, December 2023 (2 of 2)
• Generative AI Market Size, in USD billion, 2023e & 2027f
• Value of AI in Payments, in USD billion, 2023 & 2031f
• Productivity Gains Through Generative AI, in % of Respondents, 2023e
• Top Customer Trends That Retail Marketers Are Watching For in 2024, in % of Retail Marketers, November 2023
• Top Commerce Use Cases For Generative AI, in % of Retail Professionals, June 2023
• Overview of AI Use in the Embedded Finance Ecosystem, January 2024 (1 of 2)
• Overview of AI Use in the Embedded Finance Ecosystem, January 2024 (2 of 2)
• Spend by Banks on Generative AI, in USD billion, 2024e & 2030f
• Breakdown of Financial Service Companies’ Primary Strategy for Use of AI and ML, in %, Q1 2023
• Use Cases of Al and Machine Learning in Payments, in % of Payment Professionals, 2023e
• Top Risks Associated With Al and Machine Learning, in % of Payment Professionals, 2023e
• Top Challenges With Applying Generative AI in Banking, in % of C-Suite Executives, October 2023
• Breakdown of Machine Learning Market, by End-Use Industry, in %, 2022
• Share of Financial Institutions Eyeing Generative AI Use For Fighting Fraud, in %, 2024e
• Overview of AI Use in B2C E-Commerce, June 2024 (1 of 2)
• Overview of AI Use in B2C E-Commerce, June 2024 (2 of 2)
• Challenges And Risks of AI Use in the B2C E-Commerce And Online Payments Industry, June 2024
• Activities That Shoppers Desire AI Assistance With Throughout Their Shopping Experience, in % of Respondents, October 2023
• Areas in Which Software Purchases Having AI Functionality Is “Very Important”, by Software Type, in % of B2B Software Buyers, March 2024
• Areas in Which Software Purchases Having AI Functionality Is “Important”, by Software Type, in % of B2B Software Buyers, March 2024
• Areas in Which Software Purchases Having AI Functionality Is “Somewhat Important”, by Software Type, in % of B2B Software Buyers, March 2024
• Areas in Which Software Purchases Having AI Functionality Is “Not At all Important”, by Software Type, in % of B2B Software Buyers, March 2024

4. North America

4.1.          U.S

• Overview of AI Use in B2C E-Commerce Market, April 2024
• Share of Retail Decision Makers Who Feel Ready to Deploy Generative AI Technology in 2024, in %, November 2023
• Share of CFOs That Say Their Access to AI Technology Is Very Or Extremely Important, in %, February 2024
• Share of CFOs That Say the AI Automation They Are Now Using to Support Their AP Cycle Is Not At All Or Only Slightly Important, in %, February 2024
• Share of CFOs That Say That AI Has Reduced Their Need for Lower-Skill Workers, in %, February 2024
• Share of CFOs That Say That AI Has Increased Their Need For More Analytically Skilled Workers, in %, February 2024
• Areas In Which AI Has Increased vs. Decreased The Need For Higher vs. Lower Skilled Workers, by Complexity of Tasks, in % of CFOs, February 2024

5. Europe

5.1.         Regional

• Overview of AI Use in B2C E-Commerce And Online Payments, July 2024

5.2.          UK

• Overview of AI Use in B2C E-Commerce And Online Payments, May 2024
• Share of Organizations Planning AI Adoption, in %, December 2023
• Adoption of AI Solutions, by Type, in % of Total Adoption, May 2024
• Adoption of AI, by Sector, in % of AI Adoption Rate, May 2024
• Benefits of AI Use in B2C E-Commerce Delivery, in % of Shoppers, 2024e

5.3.          Germany

• Top Areas of Potential For AI Use, in % of Retail Decision Makers, September 2023

6. APAC

6.1.         Regional

• Overview of AI Use in Online Payment Fraud, February 2024
• Overview of AI Use in Digital Health, May 2023

6.2.          China

• Top Digital Health Areas in Which Healthcare Leaders Are Investing, in % of Healthcare Leaders, March 2022
• Overview of AI Use in B2C E-Commerce Market, February 2024

7. LATAM

7.1.          Regional

• Overview of AI Use by B2C E-Commerce Players, March 2024

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Companies Mentioned:

• Alibaba
• Amazon
• Mastercard
• Mercado Libre
• Shopify
• Silvia health
• Stripe
• Taoboa
• Visa
• Worldline