Mastercard Launches First AI Assistant Developed With New In-House Capability

Mastercard has launched a generative artificial intelligence (AI)-powered digital assistant that is designed to simplify the customer onboarding process.

This is the first application developed by Mastercard’s new in-house capability for building and deploying knowledge agent tools, the company said in a Tuesday (Oct. 29) press release.

Mastercard’s new in-house capability was built in collaboration with Databricks, using its Data Intelligence Platform, according to the release.

“With core functionalities like a chat-based assistant user interface, source management and learning with human feedback, the program ensures that new knowledge agents are continuously trained on Mastercard’s trusted, proprietary datasets while always operating under the company’s rigorous AI and data governance principles and standards,” the release said. “The effort also removes the friction associated with vetting and procuring third-party solutions, further streamlining operations.”

Mastercard’s new onboarding assistant has a knowledge base that includes the company’s existing onboarding documentation and uses it to automate routine tasks and answer each customer’s questions during onboarding, per the release.

To reinforce its continuous learning and ensure its accuracy, the AI agent also integrates feedback from subject matter experts, according to the release.

This is the first of many applications Mastercard plans to build on its new infrastructure, the release said.

“AI, like other advanced technologies, is a critical enabler for Mastercard’s mission to power economies and empower people,” the release said.

Companies across industries have been deploying AI assistants to help with a variety of tasks.

Amazon Web Services (AWS) and Smartsheet said Oct. 8 that they partnered to help companies access their work management data through AWS’ generative AI assistant. This collaboration involves launching a connector that synchronizes data from Smartsheet’s enterprise work management platform into AWS’ generative AI assistant, Amazon Q Business, enabling customers to query their AI assistant for information managed in Smartsheet.

In September, Amazon unveiled a generative AI-powered personal assistant designed to help the independent sellers using its platform streamline their business operations and scale their businesses more efficiently.

Expedia Group launched an AI assistant in May, saying it is designed to help travelers plan their trip. The tool can help with planning, shopping, booking and making changes during a trip.

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