Mastercard Jumps Into Generative AI Race
Mastercard has developed its own proprietary generative artificial intelligence model, Decision Intelligence Pro, to assist banks in detecting and preventing fraudulent transactions.
The model, which is a core part of generative AI, is trained on data from the company’s card network, which processes around 125 billion transactions annually.
The algorithm uses the history of a cardholder’s merchant visit as a prompt to determine if the business involved in a transaction is a place the customer would likely go.
Mastercard’s proprietary recurrent neural network, a core part of generative AI, generates pathways through the company’s network, generating scores to determine the legitimacy of suspicious transactions. This innovative approach aims to improve the security of the payments industry.
(With inputs from Shikha Singh)
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