Greg Ulrich is Chief AI and Data Officer at Mastercard. He describes how corporate value creation in AI will shift toward proprietary data and inference execution.
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.”
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 …”
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.”
Assertion Supported
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…”
Assertion Not 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.”
Assertion Supported
Ulrich: Mastercard's Shopping Muse uses GenAI for online retail recommendations
“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 lik…”