“In personalization, we have something called Shopping Muse, which is basically enabling the in-store experience online. So you have a chatbot effectively where you can type in your own language and ask for recommendations. ... It's allowing you to interact like you would with an in-store agent using all of genetic techniques to make, again, personalization of a better experience for the end consumer.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Greg Ulrich
Insight
Ulrich: Centralizing all enterprise AI functions into one department is foolish
“Artificial intelligence, like electricity, like it, it's just a part of so much of the organization. It would be foolish, dangerous, and probably impossible to try to strip out all those elements and centralize them into one place.”
Greg UlrichFeb 5, 2025▶ 16:25How AI is Powering Payments, with Greg Ulrich of Mastercard
Opinion
Ulrich: Generative AI solutions are not yet ready for direct consumer use
“There's enthusiasm, but I, it's definitely not unbridled as people are very worried about the accuracy, the hallucination, the efficacy of these, and particularly as you start pointing these to customer facing solutions, there's a very high bar on what that's …”
Greg UlrichFeb 5, 2025▶ 24:27How AI is Powering Payments, with Greg Ulrich of Mastercard
Insight
Ulrich: Traditional ML beats GenAI for structured data and fraud management
“If you have structured data, you're doing forecasting models, a lot of the fraud management, traditional artificial intelligence, machine learning, Is going to be more efficient, more effective, and certainly more cost effective as a way to do it.”
Greg UlrichFeb 5, 2025▶ 4:23How AI is Powering Payments, with Greg Ulrich of Mastercard
AssertionSupported
Ulrich: Mastercard scores real-time transaction fraud in milliseconds using GenAI
“The product we have is called Decision Intelligence, and that's where in the milliseconds we have between when a transaction passes through our network from when you tap to buy something in a store, it passes through MasterCard to go to the issuer. We're provi…”
Greg UlrichFeb 5, 2025▶ 8:32How AI is Powering Payments, with Greg Ulrich of Mastercard
AssertionNot checkable as stated
Ulrich: AI reasoning models increasingly decline to answer when uncertain
“It's not just the accuracy that is improving, but the percentage of time, the significant increase in percentage of time that those models will basically say, I don't know the answer to a question.”
Greg UlrichFeb 5, 2025▶ 27:22How AI is Powering Payments, with Greg Ulrich of Mastercard
PredictionNot checkable as stated
Ulrich: Proprietary data and inference will differentiate future AI applications
“I do think that the use of data becomes a more critical differentiator. Inference becomes a more critical differentiator.”
Greg UlrichFeb 5, 2025▶ 29:26How AI is Powering Payments, with Greg Ulrich of Mastercard
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