{"id":570516,"date":"2024-05-17T20:36:36","date_gmt":"2024-05-17T15:06:36","guid":{"rendered":"https:\/\/aithority.com\/?p=570516"},"modified":"2024-05-17T20:36:36","modified_gmt":"2024-05-17T15:06:36","slug":"leveraging-ai-to-support-the-american-worker","status":"publish","type":"post","link":"https:\/\/aithority.com\/hrtechnology\/leveraging-ai-to-support-the-american-worker\/","title":{"rendered":"Leveraging AI to Support the American Worker"},"content":{"rendered":"
These sobering statistics remind us how challenging it can be to make ends meet and pay bills on time in a regular manner. But, oftentimes the ability to pay a bill comes down to one\u2019s liquidity and if money is available at that very moment. Unfortunately, the timing of bills and pay are often misaligned, causing negative consequences for all involved. This reinforces the importance of speed, accuracy, and reliability when it relates to actually getting your pay.<\/p>\n Because, bills don\u2019t wait for anyone.<\/p>\n In 2023, DailyPay, a leading worktech company, moved over $19 billion on its platform, clearly demonstrating that earned wage access has arrived as an essential benefit for the American worker. The company is now leveraging advancements in AI technology to ensure that money moves from the employer into the employee\u2019s pockets safely and efficiently.<\/p>\n For example, DailyPay leverages AI to provide customers with flawless service and meticulous precision for the wages they\u2019ve already earned. The company also deploys cutting-edge AI algorithms to prevent suspicious account activity, effectively reducing unauthorized access to earnings and protecting users from potential fraud.<\/p>\n All of these innovations are centered around the employee and addressing the flexibility and control they want and expect. By creating the safest and easiest user experience, employees can utilize earned wage access to make their lives a little easier. A little better.<\/p>\n<\/a>With an economy in flux, Americans continue to struggle to pay bills on time. Recent research<\/a> from FICO revealed that about 1 in 5\u00a0 U.S. consumers had past-due payments listed on their credit reports in the last year. This drives down credit scores and brings upon a whole host of negative financial ramifications. To make matters worse, data from PYMNTS intelligence<\/a> shows that about 6 in 10 Americans live paycheck to paycheck.<\/p>\n
Fortunately, innovations in payment technology, in particular, earned wage access (EWA)<\/strong>, have empowered millions of workers worldwide with choice and control over their pay to pay bills on time. Many of the world\u2019s leading employers now offer this transformational financial wellness benefit to their employees, enabling them to access their earned pay with the press of a button on their smartphone.<\/p>\n