To help companies that want to jump into the artificial intelligence (AI) revolution — but are perhaps unsure where to actually start — the team at Mastercard is hoping to offer up a solution in the form of AI Express.
The offering, launched today, is designed to help companies leverage an artificial intelligence model that answers real business questions and can be swiftly deployed.
The announcement comes as firm across the world, and across verticals, are building up avid interest in the area. According to a study by Fortune, over 80 percent of Fortune 500 CEOs see the technology as very or extremely important to their company’s future. The problem, however, is that while the data resources exist, most firms do not have the in-house experience or expertise to leverage that data within an AI paradigm.
“If data is the oil that powers the digital economy, artificial intelligence is the refinery,” said Ajay Bhalla, chief security solutions officer at Mastercard. “Mastercard has gained significant experience in the application of AI at scale in a mission critical environment. For companies looking to take advantage of the technology today, AI Express offers quick results along with the know-how to move forward with a full-fledged artificial intelligence deployment.”
Among critical issues the AI Express program was designed to address are: anti-money laundering, fraud risk management, cybersecurity, credit risk prediction and operational efficiencies.
AI Express’ capability is built directly into the multi-layered security strategy of the Mastercard network. According to the company, that gives it the ability to act within milliseconds to detect and manage fraud.
And, because it is a learning software, the systems are designed to get “smarter” and power proven Mastercard security solutions like Decision Intelligence, Safety Net, Early Detection and Authorization IQ.
With the opening up of AI Express, Mastercard customers will now be able to use and benefit from the same advanced AI capabilities.