Mastercard has announced the expansion of its consulting business . This expansion is about new practices specializing in artificial intelligence and economics . This enables customers across all industries to rapidly and responsibly accelerate the use of AI to respond to ever-changing macroeconomic conditions and consumer preferences. The company is also working to strengthen its Digital Lab , a business transformation service that helps clients build end-to-end solutions, from concept design and go-to-market prototyping to scalability. These are part of the company’s continued efforts to expand its consulting business into emerging sectors and support businesses in their evolution and growth across the enterprise.
“With the proliferation of generative AI and a complex economic landscape, businesses need more expertise and go-to-market solutions than ever before,” said Raj Seshadri, president of data services at Mastercard. As a complement, the Digital Lab will be an incubator for exploring new ideas and co-building innovative solutions that have a rational impact on adoption.”
Promoting the adoption of safe and secure AI strategies
Building on more than a decade of know-how using AI models to protect more than 125 billion transactions annually, Mastercard’s AI consulting business works with businesses to adopt responsible AI strategies . Our experts identify and securely integrate AI tools to deliver better customer experiences, operational efficiency, and sustainable revenue. Already available AI tools such as Dynamic Yield , Test & Learn , Global Treasury Intelligence , Cyber Quant , and Brighterion are used for personalization, debiasing, forecasting, optimizing financial practices, cybersecurity, fraud monitoring, and more. to meet pressing business needs.
Addressing economic uncertainty with data-driven insights
The company’s management consulting business is comprised of in-house experts from the widely recognized Mastercard Economics Institute , which transforms vast amounts of economic data into actionable insights. Executives have the unique insight to make informed decisions through personalized analysis using advanced statistical modeling techniques, scenario planning, and forecasting. Tools like SpendingPulse measure all forms of payment, in-store and online purchases, and are used to extract changing consumer behavior. Personalized subscriptions and strategies built on near-real-time data are available across industries including retail, banking, fintech, tourism, and food and beverage.
Cultivating innovative solutions from concept to realization
The award-winning Digital Lab brings together cross-disciplinary experts and capabilities to bring companies’ digital goals from idea to market. With proven innovation theory, rapid prototyping, and tools such as Test & Learn, Digital Lab works with companies to deliver fresh ideas and create cutting-edge digital solutions for loyalty, marketing, merchandising, pricing, and more. is building. Digital Lab leverages advanced data-driven insights and over 600 award-winning solutions to tackle big problems and reimagine the way we work.
For more than 20 years, the consulting business has been a key component of the company’s customer engagement, enabling companies to derive value from their data and navigate a rapidly evolving industry., the company’s world-class team includes thousands of data scientists, engineers, and consultants working in industries and governments around the world, including banking, retail, tourism and entertainment.
SOURCE: Businesswire