Mastercard creates a generative AI model to fight fraud

Mastercard creates a generative AI model to fight fraud AI News, AI, AI tools, DailyAI, Eugene van der Watt, Innovation, itinai.com, LLM, t.me/itinai **Mastercard Unveils New AI Fraud Detection Tool** Mastercard is gearing up to launch an innovative AI fraud detection tool, Decision Intelligence Pro (DI Pro), later this year. Developed in-house by Mastercard’s cybersecurity and anti-fraud teams, DI Pro leverages a recurrent neural network to analyze cardholders’ purchasing histories and scan a trillion data points in less than 50 milliseconds to predict transaction legitimacy. **Key Features of DI Pro:** - Powered by a recurrent neural network to analyze cardholders’ purchasing histories - Scans a trillion data points in less than 50 milliseconds to predict transaction legitimacy - Expected to boost fraud detection rates by an average of 20% - Anticipates potential fraudulent events to protect banks and customers - Reduces false positives by more than 85% **Value for Middle Managers:** For middle managers in the financial sector, implementing AI solutions like DI Pro can significantly reduce operational costs related to fraud detection. The tool’s ability to improve fraud detection rates and minimize false positives will streamline the assessment of legitimate transactions, saving both human and financial resources. **Practical AI Solutions for Your Company:** If you’re looking to leverage AI to stay competitive and enhance your operations, consider the following practical steps: **Practical Steps:** 1. Identify Automation Opportunities: Locate key customer interaction points that can benefit from AI. 2. Define KPIs: Ensure your AI endeavors have measurable impacts on business outcomes. 3. Select an AI Solution: Choose tools that align with your needs and provide customization. 4. Implement Gradually: Start with a pilot, gather data, and expand AI usage judiciously. For AI KPI management advice and continuous insights into leveraging AI, connect with us at hello@itinai.com. Stay tuned on our Telegram or Twitter for more insights. **Spotlight on a Practical AI Solution:** Consider utilizing the AI Sales Bot from itinai.com/aisalesbot to automate customer engagement 24/7 and manage interactions across all customer journey stages. This tool can redefine your sales processes and customer engagement. **List of Useful Links:** - AI Lab in Telegram @aiscrumbot – free consultation - Mastercard creates a generative AI model to fight fraud - DailyAI - Twitter – @itinaicom