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Chana Schoenberger (00:12):
When you look at the next coming year, what do you think is going to happen? What can we expect in the payment space?
Molly Hugar (00:18):
Again, another great question. I feel like over the last decade, it was really about the tools and technology evolution. And now we're there. And I think the next three to five years is going to be a lot about the infrastructure, the processes and procedures internally, whether it's automation tools or AI, and really making sure that people are tight around their compliance, their insurance, to know that while they're embedding all of these tools within their infrastructure and their ecosystem at their companies, how are they doing it safely, soundly, and securely? So that's a big focus for us right now.
Chana Schoenberger (00:58):
Okay. So mostly the risks that clients are facing.
Molly Hugar (01:01):
Exactly. Exactly. And just a lot of the tools that we offer from an automation perspective are very closed ecosystem and there's tools within them. But as you start overlaying clients, we advise clients that they need to be very careful and work with their legal counsel on their use of AI internally. Because as you bring all of that together, you just want to make sure that you're doing it safely and soundly for the information and data that you have in-house.
Chana Schoenberger (01:31):
Right. You can't be too careful.
Molly Hugar (01:33):
Right. Exactly. Exactly.
Chana Schoenberger (01:35):
So what new risks are being created that they're not thinking of?
Molly Hugar (01:39):
I think it's just making sure that there's really sound policies and practices. And again, I am not our KeyBank team expert on AI. We have Kim Snipes and very, very smart people working on exactly this for KeyBank. But as we talk to our clients, really reminding them that you need to have an understanding of the tools that you're offering to your employee base and making sure that there's guardrails around them not taking corporate information and putting in their own personal ChatGPT or taking that information and using it in other spaces that might be well intended, but it takes it outside of the ecosystem and that at that point has inherent risk.