DataFramed

#288 How Generative AI is Transforming Finance with Andrew Reiskind, CDO at Mastercard

Mar 3, 2025

Andrew Reiskind, Chief Data Officer at Mastercard, shares insights on how generative AI is revolutionizing the financial sector. He discusses the democratization of AI tools and their potential for enhancing personalization and fraud detection. The conversation delves into the importance of data quality and governance amidst AI's rise, addressing both benefits and ethical concerns. Reiskind emphasizes building trust and agility in finance while navigating regulatory challenges, illustrating AI's transformative potential like past technological shifts.

48:17

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Episode guests

Andrew Reiskind

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Quick takeaways

The democratization of generative AI allows broader organizational access, enabling employees to enhance productivity and innovate within their roles.

Generative AI is improving personalization and internal efficiencies at organizations like Mastercard, fostering quicker product development and streamlined operations.

As organizations navigate AI adoption, they must adapt data governance principles to ensure quality, compliance, and ethical use in evolving contexts.

Deep dives

Democratization of AI in Finance

AI technology is becoming more accessible, moving it from the hands of specialized data scientists to a broader audience within organizations. This democratization allows employees at different levels to explore how AI can improve their roles and productivity. For instance, tools like chatbots and AI-generated content enable quicker and more efficient product development processes. The impact of generative AI is already being felt across financial services, sparking curiosity and fostering innovation in how data is utilized.

Intro

2min

The Transformation of Financial Services through Generative AI

8min

Governance of Generative AI in Data Management

8min

Categorizing Generative AI for Impact

7min

Navigating AI in Finance: Trust and Governance

16min

The Double-Edged Sword of Generative AI

7min

Generative AI has transformed the financial services sector, sparking interest at all organizational levels. As AI becomes more accessible, professionals are exploring its potential to enhance their work. How can AI tools improve personalization and fraud detection? What efficiencies can be gained in product development and internal processes? These are the questions driving the adoption of AI as companies strive to innovate responsibly while maximizing value.

Andrew serves as the Chief Data Officer for Mastercard, leading the organization’s data strategy and innovation efforts while navigating current and future data risks. Andrews's prior roles at Mastercard include Senior Vice President, Data Management, in which he was responsible for the quality, collection, and use of data for Mastercard’s information services and advisory business, and Mastercard’s Deputy Chief Privacy Officer, in which he was responsible for privacy and data protection issues globally for Mastercard. Andrew also spent many years as a Privacy & Intellectual Property Council advising direct marketing services, interactive advertising, and industrial chemicals industries.

Andrew holds Juris Doctor from Columbia University School of Law and has his bachelor’s degree, cum laude, in Chemical Engineering from the University of Delaware. Andrew is a retired member of the State Bar of New York.

In the episode, Adel and Andrew explore GenAI's transformative impact on financial services, the democratization of AI tools, efficiency gains in product development, the importance of AI governance and data quality, the cultural shifts and regulatory landscapes shaping AI's future, and much more.

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DataFramed

#288 How Generative AI is Transforming Finance with Andrew Reiskind, CDO at Mastercard

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Democratization of AI in Finance

Enhancing Operational Efficiencies

AI Use Case Portfolio Evolution

Governance and Data Quality Challenges

Cultural Shift Towards Responsible AI Use

Remember Everything You Learn from Podcasts