PayPal to launch AI-based products as new CEO aims to revive share price

PayPal will this year roll out a platform that uses AI to enable merchants to reach new customers based on their prior shopping history, using data from the roughly half a trillion dollars' worth of merchant transactions it has processed globally.

PayPal is introducing a "one-click" checkout feature called Fastlane, which in early testing has accelerated checkout speeds nearly 40%, along with new features for Venmo business profiles, the company said.
The S&P 500 index climbed to its fourth straight record high close on Wednesday, fueled in part by a rally in technology stocks on AI optimism. PayPal reports fourth quarter earnings on Feb. 7. (Reporting by Hannah Lang in Washington; editing by Michelle Price and Emelia Sithole-Matarise)