Mastercard unveils Gen AI tool, safeguarding consumers with advanced technology.

TLDR:

Mastercard has launched Decision Intelligence Pro (DI Pro), a Gen AI-powered transaction risk assessment tool designed to protect consumers from fraud. DI Pro assesses the relationships between multiple entities surrounding a transaction and scans one trillion data points in real-time to predict the likelihood of a genuine or false transaction. Initial modelling shows that AI enhancements can increase fraud detection rates by 20% on average, and up to 300% in some cases. The tool aims to reduce false positives by more than 85% and will be available for banks and financial institutions later in 2024.

Key elements:

• Mastercard has launched Decision Intelligence Pro (DI Pro), a transaction risk assessment tool powered by Gen AI.
• DI Pro assesses the relationships between multiple entities surrounding a transaction and scans one trillion data points in real-time.
• Initial modelling shows that AI enhancements can increase fraud detection rates by up to 300%.
• The tool aims to reduce false positives by more than 85%.
• DI Pro will be available for banks and financial institutions later in 2024.

Mastercard has launched Decision Intelligence Pro (DI Pro), a Gen AI-powered transaction risk assessment tool designed to protect consumers from fraud. DI Pro assesses the relationships between multiple entities surrounding a transaction and scans one trillion data points in real-time to predict the likelihood of a genuine or false transaction. Initial modelling shows that AI enhancements can increase fraud detection rates by 20% on average, and up to 300% in some cases. The tool aims to reduce false positives by more than 85% and will be available for banks and financial institutions later in 2024.