DENVER–Credit unions attending the VeleraLIVE event here were given insights into artificial intelligence and payments in two separate presentations.
AI Expert and Futurist Steve Brown shared where the market is today when it comes to AI) what to expect next and how to consider approaching the rapidly changing AI environment.
“We are at the dawn of a new industrial era and moving into a cognitive revolution where we will see the building of mechanical minds,” Brown said. “Where we go next includes iterations of agentic AI, spatial AI and – the coming together of the previous forms – into physical AI.”
The key takeaway, according to Brown: “Tomorrow’s workforce will be a blend of humans working alongside robots and digital workers, meaning organizations need to learn how to thrive in world of human and non-human. Prepare to surf the AI waves, be curious and make time to learn about AI.”
A Payments Roadmap
Sparately, during a panel titled “PYMNTS Roadmap to 2030,” Brian Scott, Velera’s chief growth officer, moderated the panel that was made up of:
- Karen Webster, founder/CEO of PYMNTS.com
- Bob McKay, president and CEO of Together Credit Union
- Ricky Otey, president and CEO of Partners Federal Credit Union
- Denise Stevens, chief product officer of Velera.
The roadmap is shown below.
What Was Discussed
According to Velera, the group discussed the PYMNTS/Velera roadmap outlining the seven planks that position credit unions to succeed. Discussions revolved around the importance of driving an innovation mindset, maintaining top of mind status and opportunities for growth with small businesses and microbusinesses. The group also tackled generational differences, with Webster noting that only 13% of Gen have a credit union relationship, but of those that do, 76% use their credit union account as their primary.
Webster said it’s a true opportunity for engagement and loyalty if credit unions can capture younger generations.
