How AI is taking over the financial side of travel for consumers

Artificial intelligence is revolutionising the financial aspect of travel for consumers, making it a less daunting experience. Daumantas Grigaravicius, head of Middle East at global payments platform Adyen, notes that travel involves numerous bookings, purchases, and charges across multiple currencies, countries, and systems, causing anxiety for many.

AI is being employed to tackle these challenges by addressing issues such as fraud detection, currency optimisation, real-time budget monitoring, and personalised payment experiences.

AI-driven fraud prevention has already shown significant success in the travel sector, which has traditionally been a target for fraud. Adyen's dynamic identification system, powered by AI, examines long-term behavioural patterns instead of relying on static rule systems, reducing both fraud and false declines. Moreover, AI-powered "smart micro-budgeting engines" provide users with real-time financial guidance, prompting alerts when overspending is detected and automatically setting aside savings during the trip.

AI is also transforming the pre-transaction process for travellers. Predictive currency hedging enables platforms to forecast fluctuations and advise on the optimal times to make payments, while "invisible checkout" verifies identity biometrically and completes multicurrency payments without requiring a physical card. Trip.com and Mastercard recently showcased this concept at Arabian Travel Market in Dubai, with their AI travel assistant TripGenie.

This AI-driven financial assistance will likely become more prevalent in the UAE, as 80% of UAE organisations plan to utilise AI agents by 2027, according to Salesforce research. The UAE government has even set a goal to embed agentic AI across 50% of its services and operations within the next two years. For travellers, these AI tools will eliminate financial anxiety, making travel planning and booking a smoother, more enjoyable experience.