Artificial intelligence is no doubt transforming how humankind conducts business, operates, lives or receives treatment among other things.
As such, this technology has positioned itself as the main focus for most parties including leading teach companies and industrial nations such as China and the United States. However, most businesses are still lagging behind their plans to adopt or harness artificial intelligence to boost their operations since they do not know where to begin. In response to this situation, Mastercard is hoping to remedy the issue through launching AI Express.
According to Mastercard’s recent announcement, the launch of AI Express will enable businesses or companies to venture into artificial intelligence swiftly. The company will help assist them in creating a customized artificial intelligence model that not only responds to real business queries but also one that can be deployed seamlessly.
Mastercard’s move comes at a time when companies across the globe and various verticals displaying an increasing interest in the artificial intelligence (AI) field. A study conducted by Fortune revealed that 80% of Fortune 500 chief executive officers view the groundbreaking technology as extremely essential to the success of their company in the future. Even with the existence of data resources, most companies nowadays still lack the in-house expertise or experience to take advantage of it or use it particularly within the paradigm of artificial intelligence (AI).
READ MORE – 10 Applications of Machine Learning in Finance
READ MORE – Top 25 AI Software for the Banking Industry
Ajay Bhalla, Mastercard’s chief security solutions, said that if data is the oil that drives the digital economy, then artificial intelligence (AI) is the refinery.
He went ahead to acknowledge the fact that Mastercard has attained considerable experience in leveraging artificial intelligence (AI) at scale, especially in a mission sensitive environment. According to Ajay Bhalla, companies that are seeking to benefit from the use of this technology can take advantage of AI Express, which delivers fast results coupled with the expertise to move forward with the complete deployment of artificial intelligence (AI).
The team at Mastercard designed the revolutionary AI Express to helps companies in addressing various business issues including operational efficiencies, credit risk prediction, fraud risk management, cybersecurity, and anti-money laundering. Furthermore, the capability of AI Express is built right into the multi-layered security strategy of the Mastercard Network. As such, the company says that that attribute delivers its potential to act within milliseconds in managing and detecting fraud.
AI Express serves as one of the examples of how the Brighterion abilities are assisting Mastercard in playing a fundamental role in expediting the not only the adoption of artificial intelligence but also machine learning through opening up its platform to the rest of the industry.
Its systems are created to become smarter and drive acclaimed Mastercard security solutions such as Authorization IQ, Early Detection, Safety Net and Decision Intelligence. With the launch of AI Express, Mastercard customers will gain an opportunity to utilize and benefit from similar advanced artificial intelligence (AI) capabilities.
Mastercard is a US-based multinational financial services company whose core business is processing payments, particularly between the banks of merchants and card-issuing banks of the buyers who utilize Mastercard prepaid, credit and debit to make their purchases. The company has its headquarters in Purchase, New York at the Mastercard International Global Headquarters.