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How AI is Helping Mastercard, Siemens, John Deere - AI Trends

#artificialintelligence

AI is having an impact in business, government and healthcare. But nowhere is it having more impact than for the biggest companies with the most resources. Advantages big companies have include access to lots of data and funds to buy smaller companies with the expertise to do something innovative and profitable with the data. Each company has had to decide on the best way to leverage AI for their business. "The question is how do you use AI right or use it wisely," stated Ed McLaughlin, Chief Emerging Payments Officer for Mastercard, at the recent EmTech Digital event on AI and big data, as reported in MIT Sloan Review.


Artificial Intelligence Gets Real for Big Firms

#artificialintelligence

As artificial intelligence continues to move into the mainstream, companies are combining AI and big data to build and design better products, react faster to changing market conditions, and protect consumers from fraud. According to experts at EmTech Digital, MIT Technology Review's annual event on artificial intelligence, big data plus AI creates a foundation for more intelligent products and services -- ones that initiate maintenance procedures before something breaks, perform more precise operations, or automatically recalibrate resources to meet changing demand and usage patterns. While AI and big data pave the way for such evolutionary use cases, the pair do not constitute a business strategy on their own accord. "The question is how do you use AI right or use it wisely," said panelist Ed McLaughlin, president of operations and technology for Mastercard. "The biggest lesson learned is how to take these powerful tools and start backward from the problem," McLaughlin said.


How big firms leverage artificial intelligence for competitive advantage

#artificialintelligence

As artificial intelligence continues to move into the mainstream, companies are combining AI and big data to build and design better products, react faster to changing market conditions, and protect consumers from fraud. According to experts at EmTech Digital, MIT Technology Review's annual event on artificial intelligence, big data plus AI creates a foundation for more intelligent products and services -- ones that initiate maintenance procedures before something breaks, perform more precise operations, or automatically recalibrate resources to meet changing demand and usage patterns. While AI and big data pave the way for such evolutionary use cases, the pair do not constitute a business strategy on their own accord. "The question is how do you use AI right or use it wisely," said panelist Ed McLaughlin, president of operations and technology for Mastercard. "The biggest lesson learned is how to take these powerful tools and start backwards from the problem," McLaughlin said.


Artificial intelligence could beckon new innovation wave: MasterCard exec

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Mastercard President of Operations and Technology Ed McLaughlin discusses the upcoming artificial intelligence conference at the White House and how his company is utilizing AI. "I don't think there's a company, an industry, a country which isn't interested in advancing artificial intelligence right now," he told Liz Claman during a FOX Business interview on Wednesday. MasterCard as well as Amazon, Facebook, Google and Intel are among the close to 40 companies expected to attend a White House meeting Thursday on artificial intelligence. Topics will include the impact of artificial intelligence on the job market. AI is set to have an impact on a variety of industries that include agriculture, automotive, healthcare and manufacturing. "This can be a true foundation for a whole new wave of innovation, a whole new wave of economic growth and development," McLaughlin said.


Human behaviour touted as key to plugging security gaps

ZDNet

With more devices coming online and technology changing rapidly, a more effective way of securing data may well be to monitor human behaviour. Cybersecurity proponents such as Forcepoint and Mastercard are pointing to humans as the key to strengthening overall cybersecurity posture, touting the analysis of behavioural patterns as a way to identify abnormal, and potentially, malicious intent. As the adoption of Internet of Things (IoT) took form, it would be increasingly challenging to protect against online threats, said Forcepoint CEO Matthew Moynahan. More and more businesses also were moving to the cloud and becoming more mobile and inter-connected. This meant traditional methods of building walled gardens and firewalls to protect corporate networks no longer made sense.